GTAG 3 - Continuous Auditing: Implications for Assurance, Monitoring, and Risk Assessment

GTAG 3 - Continuous Auditing: Implications for Assurance, Monitoring, and Risk Assessment

The information in the second edition of GTAG 3: Continuous Auditing: Coordinating Continuous Auditing and Monitoring to Provide Continuous Assurance, provide practitioners the most up-to-date guidance and best practices to enable them to successfully implement a continuous auditing approach. It focuses on technology-enabled aspects of continuous auditing and addresses:

• A definition of related terms and techniques including continuous auditing, ongoing control assessment, ongoing risk assessment, continuous monitoring, and assurance.
• The role of continuous auditing in relation to continuous monitoring.
• Areas where continuous auditing can be applied by the internal audit activity.
• Challenges and opportunities related to continuous auditing. 
• The implications for internal auditing, the chief audit executive, and management.

The guide provides the key considerations practitioners need to implement continuous auditing, which will ultimately help them develop a better understanding of the business environment and the risks to the company to support compliance and drive business performance.