（2001）Using Audit Software for Risk Management, Continuous Monitoring and data analysis.pdfVIP

Using Audit Software for Risk Management, Continuous Monitoring, And Data Analysis By Scott Fargason Louisiana State University For The IIA Research Foundation Esther R. Sawyer Scholarship Award July, 2001 Introduction In order to improve the quality of the audit process, the auditor must avoid complacency and be receptive to change, including innovative ways of using audit software for risk management, continuous monitoring, and data analysis.1 This article is a commentary based on literature reviews, on-sight observations, a written survey, and a live feedback session. The subjects of this article included, but were not limited to, Fortune 500 Companies, Research I educational institutions, and governmental agencies. This article focuses on methods of improving the use of audit software and employing innovative ways of improving audit efficiency and effectiveness. Thus, this article is designed to be a qualitative analysis, coupled with suggested ways of improving the audit process using audit software. The Underutilized Basics 2 3 Our survey and feedback session results indicate that many of the organizations under review employ the use of basic word-processing, spreadsheet, and/or database software.4 Such software packages also include other helpful tools such as centralized calendars and simple planning programs. As one commentator noted, better use of such programs can greatly improve staff participation in the audit process up to and including the final audit report. [The] possibilities for word processing, flowchart[ing], and presentation software include 1 Patterson, Sara S.; Svevo-Cia