Internal Audit
Efficiency through Automation
Increased 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 Automation enables 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 Automation explains 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:
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Audit technology
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CAATTs benefits and opportunities
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CAATTs for broader-scoped audits
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The Internet as an audit tool
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The new audit paradigm
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Value-added auditing of inventory systems
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Developing CAATT capabilities
Internal 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.
About the Author
David Coderre has over twenty years of experience in internal audit, management consulting, policy development, management information systems, system development, and application implementation areas. He is currently President of CAATS (Computer-Assisted Analysis Techniques and Solutions). He is the author of three highly regarded books on using data analysis for audit and fraud detection.