Thursday, June 29, 2006
PwC Study: Continuous Auditing a Growing Trend
More companies are using "continuous auditing" techniques, which are designed to use technology to accelerate the internal audit cycle and improve risk and control assurance, according to a new study from PricewaterhouseCoopers.
Conducted earlier this year, the survey includes responses from 444 audit managers -- half of whom said that they already use continuous auditing techniques, an increase from 35 percent in 2005. Of the companies without techniques in place, 31 percent said that they have plans in place to begin making changes.
PwC advisory partner Dick Anderson said that the shift is due in part to a dynamic risk environment that increasingly demands timeliness and reliable assurance. He said that continuous auditing also employs non-traditional approaches when it comes to strengthening reporting and communication with senior management and the audit committee.
posted by Brian Moran @ 9:29 AM