（2006）The wave of the future.pdfVIP

RESEARCH CONNECTION E D I T E D B Y D O U G L A S E . Z I E G E N F U S S The Wave of the Future ONTINUOUS ALIDITING (CA) REPRKhTVTS or a short period after, the occurrence of the future of internal auditing. Organi- events underlying the subject matter. zations are producing information con- Generic applications that are often tinuously, and information users need appropriate for CA include purchasing, pay- assurances that it is accurate, complete, ment cycles, vendor relationships, human and relevant to their needs. In the near resources, and payroll. These areas are char- future, organizations may be producing acterized by many small dollar transactions, daily financial statements. In such a sce- and they must be well-controlled because nario, CA presents the only means by things can go wrong very quickly. which auditors can provide assurances The authors present a five-step method- over the fairness of those statements . ology to accomplish CA: New rese