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Continuous auditing & continuous monitoring: Continuous value?

van Hillo,Rutger
; 
Weigand,Hans
Abstract
Advancements in information technology, new laws and regulations and rapidly changing business conditions have led to a need for more timely and ongoing assurance with effectively working controls. Continuous Auditing (CA) and Continuous Monitoring (CM) technologies have made this possible by obtaining real-time audit evidence and enabling organizations to review whether controls and systems function as intended on an ongoing basis. Although organizations understand the benefits of CA/CM, the current state of adoption is relatively low not the least because organizations find it difficult to quantify the value. This research used a design research approach to develop a framework that addresses the added value of redesigned internal controls within IT-supported business processes of organizations. The value of the CA/CM is broken down into three distinguished domains, Efficiency, Assurance and Quality. The Waterfall method is proposed as visualization method in order to indicate a possible cost saving and value increase of a redesigned control clearly. The framework has been tested and evaluated within a case organization. It can be concluded that the framework is applicable for providing more insights in the value of CA/CM.
Description
Date
2016
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Publisher
IEEE
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Tilburg University Research Output Collection
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Keywords
continuous monitoring, business value
Citation
van Hillo, R & Weigand, H 2016, Continuous auditing & continuous monitoring : Continuous value? in S Espana, J Ralyte & C Souveyet (eds), Proceedings of the 10TH IEEE International Conference on Research Challenges in Information Science (RCIS 2016). International Conference on Research Challenges in Information Science, IEEE, Grenoble, pp. 27-37, IEEE 10th International Conference on Research Challenges in Information Science, Grenoble, France, 1/05/16. https://doi.org/10.1109/RCIS.2016.7549279
URI
https://hdl.handle.net/20.500.14602/20993
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