The Assurance Services Executive Committee (ASEC) Emerging Assurance Technologies Task Force is responsible for developing a conceptual framework and guidance to capitalize on emerging technologies affecting the business information supply chain, covering both internal and external reporting.
Continuous assurance is one of the project streams that ASEC’s Emerging Assurance Technologies Task Force is currently undertaking. At this time, the working group is in the process of drafting a series of whitepapers that will discuss the theory of continuous audit and will allow auditors to connect steps that they currently perform manually in an audit to elements of advanced analytics, continuous assurance, and continuous control monitoring. This series is intended to be an update to the 1999 CICA and AICPA Research Report on Continuous Auditing.
The working group has completed the following white papers in the series:
- The Current State of Continuous Auditing and Continuous Monitoring
- The intent of this white paper is to offer insight into what companies are currently doing with respect to continuous auditing and continuous control monitoring. The subject matter outlined in this paper is of interest to AICPA members in public practice, internal audit, and business and industry as well as those in the accounting profession as a whole and those it serves.
- Evolution of Auditing: From the Traditional Approach to the Future Audit
- The intent of this white paper is to offer insight into the traditional audit approach, how it has evolved, and how it might continue to evolve into the future audit. This paper is also intended to provide an improved understanding of movements that have taken and are taking place relative to technology such that readers might better envision how accountants will continue to be the assurance providers of choice in the evolving real-time global economy. The subject matter outlined in this paper is of interest to AICPA members and those in the accounting profession as a whole.
Brian Fox,CPA & Associate Member ACFE, is the Founder & Chief Marketing Officer of Capital Confirmations, Inc., the world's leading web-based audit confirmation service provider. Click here to see his recent interview with the Business News Network where he discusses targeting accounting fraud.
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