TheneedforContinuousMonitoringandAssurancefor.pptVIP

The need for Continuous Monitoring and Assurance for Financial Institutions Michael Alles Miklos Vasarhelyi Department Of Accounting, Business Ethics And Information Systems CONTECSI 2008: I SIMPóSIO DE AUDITORIA CONTíNUA Background: A Serious Crisis Bank write-downs from subprime crisis are $355 billion and growing: by most measures, larger than either SL or Latin American debt crises of 1980’s. Estimates are that this crisis will be longer and deeper than any other before and losses at investment banks could amount to 2 ? years of profits! House prices in free-fall in much of the developed