AUDIT ANALYTICS AUDIT

AUDIT ANALYTICS AND CONTINUOUS AUDIT:LOOKING TOWARD THE FUTURE
Figure 1-10: The Audit Ecosystem
The 21CITE promises different levels of integration between the
organization and its data environment. The data sources to be scrutinized
closer are in internal data, and often outsourced data requires reliance on
a third party (the auditor of the outsourcer). As experiences with viruses
and control structures, new forms of technology, analytic methods, and
human inventiveness constantly change the panorama, new forms of
fraud, as well as weaknesses in software, are constantly appearing and
must be considered.
6. CONCLUSIONS
The rapidly accelerating pace of technological change has created a social
drag where socioeconomic systems hold back technological progress. The
ubiquity of computers in the performance of business processes brings
the need for strict formalization of legal and business rules (Krahel, 2011)
and automation has also resulted in a change in economics. This essay
sets the groundwork for the evolution of continuous assurance initially
formulated by Groomer and Murthy (1989) and Vasarhelyi and Halper
(1991) and divulged by the publication of the CICA and AICPA
continuous auditing guidance (Red Book, 1999) later supplemented by
the IIA (2003) and ISACA (2010).
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