Thursday, June 23, 2011

What is Contineuous Auditing?

Continuous Auditing:

Continuous auditing is the idea that a company or business could get “real-time” financial information by a set of financial audits conducted simultaneously or in quick succession. This kind of financial system is generally more theoretical than practical for most businesses. This is largely because, in most cases, the cost of continuous auditing would outweigh the benefit.

Audits provide important financial data for a business. Audits help with error prevention, fraud prevention, and many other kinds of liability prevention. They also help provide a game plan for the future of a business or company. 
Source: Here 

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