Continuous auditing and continuous monitoring have remained more of a goal than a reality for most auditors. It is a concept that shifts the paradigm of internal audit from the routine periodic audits of smaller transactions to a continuing review of larger volumes of financial data. The implementation of continuous monitoring has remained a work-in-progress for quite a while and only a few firms are beginning to reap its benefits. At Incraminer, we've found that continuous auditing allows us to "provide audit at the speed of business". That way, we are better positioned to determine more accurately and quickly where to focus our resources and attention, improving the quality of the audit. We take pride in helping auditors leverage financial analytics software bringing data analysis to the forefront of the audit approach. As a result, you get faster insights into the areas to focus on and ask relevant and specific questions about the reliability of the financial statements. Putting you on the driver seat of an organization's financial control. The continuous audit programme will help you provide the following components to your clients.
Continuous financial control monitoring.
Continuous reporting to the relevant stakeholders including the board of directors, internal audit teams, and the management.
Investigation into any possibly inappropriate activities detected.
Continuous risk monitoring as well as monitoring of KPIs (key performance indicators).
Continuous monitoring of activities and transactions.
Incraminer will walk with you from developing the rules to detect anomalies to continuously deploying those rules, and help you operate continuously.
Benefits
With continuous auditing and monitoring, you help your clients minimize the risk of financial losses. You're empowered to detect errors in data before the financial impact is actualized.
Timely identification of non-compliance, fraud, transactional errors, and abuse.
The granular data in your hands can be utilized to track KPIs and identify or fix bottlenecks. As a result, you can provide additional information to the management helping them drive more efficiencies in the monitored process.
You provide clients with additional assurance in their risky or high-value processes. The regulatory environment is ever-changing so continuous audit allows you to offer more flexibility.
Being in the loop all year round helps provide ongoing improvements to financial controls through early anomalies detection. Additionally, you increase the scope of your audit coverage.
Take advantage of our continuous audit programme.