A Validated Model of Comtinuous Auditing for Management Control Testing and Business Process Improvement

Responsibilities of an Internal Audil Department is to independently test and evaluate the status of management comtrols over all company operations in order to recommend improvement to internal controls , to safeguard company assets , promote efficiency or operations , and ensure compliance with company policies and procedures and government laws and regulatios. However , realistically speaking, in a large corporation with hundreds of disperded business systems and multitue of customized applications processing millions of customer transactions, testing of internal controls over all company operations , is a very dauniting,if not an impossible undertaking. Many fortune 500 companies still depend on the legacy systems for their operations These systems often have poor documentations and are unlikely to have a centralized data base containing the key intemal control attributes.

Keywords:

Continuous Auditing , Business Process Improvement , Management Controls , Internal Auditing