Internal Audit: Efficiency Through Automation
Internal AuditEfficiency through AutomationIncreased globalization of businesses, market pressure to improve operations, and rapidly changing business conditions are creating demand for technology-enabled auditing (TEA) to ensure timely ongoing assurance that controls are working effectively and that risk is properly mitigated.Part of Wiley's Institute of Internal Auditors Series,Internal Audit: Efficiency through Automationenables auditors to radically improve the effectiveness of their individual audits and the complete audit function through the application of computer-based audit tools and techniques.Uniquely providing auditors with strategic and implementational guidance on computer-assisted audit tools and techniques (CAATTs),Internal Audit: Efficiency through Automationexplains what continuous auditing does and how it can help auditors make better use of data analytics, while maintaining their independence and objectivity in evaluating the effectiveness of risk management and control assessment processes.This practical book guides auditors in taking advantage of TEA to allow continuous auditing that tracks anomalies, deficiencies, and unusual trends in every step of the auditing process, from the initial development of the risk-based annual audit plan, to the planning, conducting, reporting, and follow-up phases of individual audits. Filled with numerous case studies illustrating the power and flexibility of standard and audit-specific software packages, it thoroughly discusses relevant topics, including:Audit technologyCAATTs benefits and opportunitiesCAATTs for broader-scoped auditsThe Internet as an audit toolThe new audit paradigmValue-added auditing of inventory systemsDeveloping CAATT capabilitiesInternal auditors cannot stand by and watch as the rest of the business world embraces new technology. This timely guidebook shows audit managers how to advance the functioning of the audit organization and provides the essential tools to meet the challenges of auditing in today's business environment.