Index
ISBN: 978-1-78743-414-1, eISBN: 978-1-78743-413-4
Publication date: 8 March 2018
This content is currently only available as a PDF
Citation
(2018), "Index", Chan, D.Y., Chiu, V. and Vasarhelyi, M.A. (Ed.) Continuous Auditing (Rutgers Studies in Accounting Analytics), Emerald Publishing Limited, Leeds, pp. 341-350. https://doi.org/10.1108/978-1-78743-413-420181019
Publisher
:Emerald Publishing Limited
Copyright © 2018 Emerald Publishing Limited
INDEX
Access violations
, 116–117
Accounting Standards Board (ASB)
, 171
Accounts payable
, 3
Accounts receivables
, 3
Activity-Based Management
, 153
Adaptation to technologies
, 78–79
Advanced Decision Support System
, 131
Agency costs, continuous online auditing of
, 139–141
AIC
, 42
Alarm hierarchy
, 240–243
Amazon
, 43
American Institute of Certified Public Accountants (AICPA)
, 32, 54, 59, 150, 173, 188, 251
Accounting Standards Board
, 171
ASEC Emerging Assurance Technologies Task Force
, 27
assurance independence
, 162
Assurance Services Executive Committee
, 294
Auditing Procedures Study
, 178
Committee on Continuous Auditing
, 130
Elliot Committee
, 129, 152, 158
Enhanced Business Reporting project
, 8
Red Book
, 7, 8, 16, 46, 249, 261
Statement on Auditing Procedure
, 286, 288–289
Systems Reliability Task Force
, 129–130
SysTrust
, 130, 152, 158, 160
Vision Project 1998
, 170
WebTrust
, 130, 152, 158, 160
Analytical procedures
, 277
Analytic method
, 34–36, 78
Analytic monitoring, for continuous assurance
, 191–215
automatic confirmations
, 212–213
continuity equations
, 208–209
control tags
, 213
data taps
, 211–212
dynamic reconciliation of accounts
, 211
hierarchy of auditing
, 204–205
levels of assurance and audit objectives
, 196–202
MC layer
, 205–207
outcomes
, 213–214
process
, 203–204
supply and demand
, 193–196
tagging data accuracy
, 209–210
tertiary ‘black box’ monitoring
, 207
time series analysis
, 210–211
timing of
, 202–203
tools for
, 207–213
Annual World Continuous Auditing and Reporting Symposium
, 323
Anti-money laundering
, 15
Apple
, 43
Application agents
, 306–308, 311
Approva
, 249, 250
Archival audit
, 150
Article collection
, 62
Article source
, 62
Artificial neural network assistant (ANNA)
, 61
Association of Certified Fraud Examiners
, 289
Assurance
, 8
continuous
, 149–165, 251
continuous data
, 9, 261–268, 277
control level
, 30
costs of providing
, 160–161
embedded modules
, 163–164
entity
, 36
estimation of
, 200–201
independence
, 162, 164
judgment
, 201–202
levels of
, 29–30, 196–202
measurement rule
, 199–200
products, ownership of
, 161–162
Assurance Services Executive Committee (ASEC)
, 294
Emerging Assurance Technologies Task Force
, 27
Assuror’s independence, and continuous assurance
, 162–164
AT&T Corp.
, 3, 248, 273
continuity equations
, 208
continuous monitoring versus continuous auditing
, 18
Continuous Process Audit System. See Continuous Process Audit System (CPAS)
RCAM system
, 11, 17–18
transaction evaluation
, 199
Attestation
, 88, 92
Audit Action Sheets (AASs)
, 224–226, 236, 239, 254, 256, 259, 260
selection of
, 230–233
AUDITAPE
, 287
Audit applications approach
, 294
Audit Applications Group (AAG)
, 184
Audit automation
, 56–57, 75
Audit Command Language (ACL)
, 175, 195, 248, 249, 250, 268, 288
Audit Data Standard (ADS)
, 26–28
ecosystem architecture
, 28
Audit data warehouse model
, 293–294
Audit ecosystem
, 42–45
characteristics of
, 43, 299, 309
defined
, 299
external influences on
, 310
to support blockchain-based accounting and assurance
, 299–312
Auditees–auditors relationship
, 144
Audit fatigue
, 21
Auditing: A Journal of Practice and Theory
, 3
Auditing Standards Board
, 178
Statement on Auditing Standards
, 178, 266, 267
Audit-like organizations (ALOs)
, 16, 20, 21
Audit methodology, continuous auditing innovations in
, 273–278
audit reporting
, 278
automation of audit procedures
, 275
continuous or frequent audit
, 274
data modeling and data analytics, for monitoring and testing
, 277–278
internal and external auditors, work and role of
, 275–276
nature, timing, and extent of testing
, 276–277
proactive audit
, 274
Audit modules into DBMS application programs, embedding of
, 110–111
Audit objectives
, 196–202
Auditor interface
, 117–119
Auditors
external
, 2
heuristics
, 92
internal
, 2
relationship with auditees
, 144
Audit process
, 278–280
Audit Reference Library (ARL)
, 184
Audit reporting
, 278
Audit risk assessment
, 134
Audit stages
, 278–280
Audit trial of continuous monitoring of business process controls
, 243
AuSoftware
, 293–294
Australian Institute of Chartered Accountants
Continuous Assurance for the Now Economy
, 16
Automated auditing capability, building
, 169–188
continuous auditing applications
, 182–186
future research
, 186–188
Automated continuous transaction verification environment (ACTVE)
, 60
Automatic confirmations
, 212–213
Automation
, 10, 240, 272, 275, 290
audit
, 56–57, 75
data analytics as precursor to
, 315–321
migration of functions to
, 41–42
path for future
, 76–77
BAAN
, 127, 179
Balanced Scorecard
, 153
Behavioral effects, of continuous online auditing
, 143
Big
, 8, 288
Big Data
, 9, 75–76
BizTalk
, 153, 158
Blockchain-enabled audit model
audit ecosystem to support
, 299–312
Bring-your-own-device (BYOD)
, 31
Business process (BP)
controls, continuous monitoring of. See continuous monitoring of business process controls (CMBPC)
defined
, 220, 262
reengineering
, 153, 239–240
Business transaction agents
, 306
Business transactions, continuous reading of
, 153–154
BW-Bex
, 238
CA analyzer
, 234–239
Canadian Institute of Chartered Accountants (CICA)
, 32, 54, 59, 171, 173
Committee on Continuous Auditing
, 130
Red Book
, 7, 8, 16, 46, 249, 261
Systems Reliability Task Force
, 129–130
SysTrust
, 130, 152, 158, 160
WebTrust
, 130, 152, 158, 160
Carolina Power and Light
SMART Auditing
, 183
Caseware
, 249, 250
Center for Audit Quality (CAQ)
, 27
Choice of assertion
, 33–34
CL Grocers (CLG)
, 42
COBOL
, 110, 132, 288
Cognitive effects, of continuous online auditing
, 143
Committee on Continuous Auditing (CICA/AICPA)
, 130
Compliance
, 199–200
Compliance monitoring (COMO)
continuous
, 14–16
COMPUSTAT
, 63
Computer Associates
, 3
Computerized aided audit tools (CAATs)
, 1, 195, 244, 250, 287, 288, 290–292
Concept confusion
, 40–41
Concurrent auditing techniques (CAT)
, 106–108
Conservation laws
, 262
Content analysis
, 62
Continuity equations
, 208–209, 262
Continuous and intermittent simulation (CIS)
, 179
Continuous assurance (CA)
, 251
analytic monitoring for
, 191–215
in ASP setting, analysis of
, 150–152
assuror’s independence and
, 162–164
business transactions, continuous reading of
, 153–154
components of
, 152–153
demand for
, 155–159
feasibility and economics of
, 149–165
issues for future research
, 164
paying for
, 160–162
supply and demand for
, 193–196
technical architecture of
, 162–164
timing of
, 202–203
transaction monitoring, assurance, and reporting
, 154–155
Continuous Audit
, 3, 7, 8, 16, 46, 249, 261
Continuous auditing (CA)
characteristics of
, 62–75
defined
, 2, 8, 54, 169, 173–174, 186, 221, 251
distinguished from traditional auditing
, 273
elements of
, 10, 20–21
emergence of
, 56–57
guidance on
, 16
implementation of
, 60–61
process
, 174–176
research directory 1983–2011
, 327–338
research distribution
, 4
versus continuous monitoring
, 16–20
See also individual entries
Continuous Audit Monograph
, 291
Continuous audit tools and techniques (CATTs)
, 175, 178, 179, 187
Continuous compliance monitoring
, 14–16
Continuous control monitoring (CCM)
, 9, 12–13, 23–24, 59–60, 71, 74, 252, 277
implementation of
, 60–61
Siemens
, 254–261
Continuous data assurance (CDA)
, 9, 261–268, 277
Continuous data audit
, 11–12
Continuous Management Monitoring (CMM)
, 268
Continuous monitoring (CM)
versus continuous auditing
, 16–20
Continuous monitoring of business process controls (CMBPC)
, 59, 219–245
Audit Action Sheets, selection of
, 230–233
audit trial of
, 243
CA analyzer
, 234–239
continuous monitoring software, developers of
, 243–244
control and alarm hierarchy, management of
, 240–243
data issues
, 233
formalization
, 239–240
implementation of
, 230–239
MC layer–ERP system interaction
, 229–230
modes of
, 226–228
pilot implementation
, 222–226
reengineering
, 239–240
system architecture for
, 228–229
Continuous online auditing (COA)
, 58, 125–147, 250
architectural issues
, 132–137
database applications
, 128–129
defined
, 126–127
economic feasibility
, 127–128
effects/consequences
, 138–146
experiences
, 129–132
factors affecting
, 137–138
history and institutional background
, 128–147
program of research in
, 132–146
research priorities
, 133, 146–147
technological feasibility
, 127
Continuous Process Audit Methodology (CPAM)
online systems
, 88, 92, 102, 103
Continuous Process Audit System (CPAS)
, 17–19, 249, 250
Advanced Decision Support System
, 131
architecture
, 131
online systems
, 87, 88, 92, 94–98, 101–103, 130–132
software implementation
, 96–101
Continuous risk monitoring and assessment (CRMA)
, 13–14, 20, 59
Control(s)
, 231, 240–243
charts
, 60
compliance
, 9
level assurance
, 30
processes, improvement on
, 214
settings
, 227
structure
, 9
tags
, 213
violations
, 116
Corporate governance
, 1
Costs of providing assurance
, 160–161
CRSP
, 63
Data
, 9
capture
, 134
integrity
, 214
mining
, 315
modeling
, 277–278
source
, 32–33
standardization
, 181
taps
, 211–212
Data analytics
, 277–278
exceptions versus audit automation exceptions
, 316
as precursor to audit automation
, 315–321
Database applications, continuous audit of
, 128–129
Database audit
, 24–25
Database control
, 109
Database Management System (DBMS)
, 56, 90–91
audit modules into DBMS application programs, embedding of
, 110–111
controls using DBMS facilities, establishing
, 109–110
environment, need for EAMs in
, 106–107
Database security
, 109
Data description language (DDL)
, 108–110, 123
Data warehousing project interrelationships, auditing of
, 183
Decentralized Autonomous Organization/Corporation (DAO/DAC)
, 301, 303, 305
Decision Support Systems
, 3
Deloitte & Touche, LLP
, 176, 319
Demand for continuous assurance
guarantee of
, 156–158
inherent
, 155–156
real-time assurance
, 158–159
Development and intellectual structure, of continuous auditing research
, 53–81
continuous auditing, characteristics of
, 62–75
continuous controls monitoring
, 59–60
electronic data processing and audit automation
, 56–57
implications of
, 80–81
paths for future research
, 75–80
real-time reporting and assurance, demanding and promoting
, 57–59
Development of continuous auditing
, 249–251
Digital ecosystem
, 302
Direct costs, continuous online auditing of
, 139
Discrepancy analysis
, 207
Distance auditing
, 137
Distributed resource protection mechanism
, 305
Dynamic reconciliation of accounts
, 211
E-Audit
, 230–231, 258
EbXML
, 153, 158
Economic feasibility, of continuous online auditing
, 127–128
EDGAR system
, 65, 172, 250
ElderTrust Plus
, 152
Electronic commerce
, 170
Electronic data interchange (EDI)
, 57, 163, 170, 250
Electronic data processing (EDP)
, 56–57, 126, 135, 179, 287
Electronic Data Processing and Auditing
, 286–287
Electronic financial reporting
, 171–173
Electronic records
, 137
Elliot Committee
, 129, 152, 158
Embedded assurance modules
, 163–164
Embedded audit modules (EAMs)
, 57, 105–123, 228, 229, 258, 292, 293
access violations
, 116–117
advantages of
, 121–122
audit modules into DBMS application programs, embedding of
, 110–111
auditor interface
, 117–119
as audit tool, use of
, 119–121
control violations
, 116
controls using DBMS facilities, establishing
, 109–110
database control and security
, 109
in DBMS environment, need for
, 106–107
drawbacks of
, 122
error handling approaches
, 112
implementation of
, 112–116
operational considerations
, 121
prior research
, 107–108
Enhanced Business Reporting (EBR) project
, 8
Enterprise resource planning (ERP) systems
, 9, 10, 13, 14, 22, 24, 30, 32, 58, 127, 150, 154, 161, 188, 193, 195–196, 272
interaction with MC layer
, 229–230
EQUEL (Embedded QUEry Language)
, 112–113
Equity Funding Corporation scandal of 1973
, 287–288
Ernst & Young (E&Y)
, 132
Error handling approaches
, 112
ETL (extract, transform, and load) process
, 179, 181
European Commission
, 302
Evolution of auditing
, 285–296
Expanded opinion conceptualization
, 37
Exploratory Data Analysis (EDA)
, 34, 47
EXtensible Business Reporting Language (XBRL)
, 58, 65, 74, 171, 172, 186, 188, 250, 268
EXtensible Markup Language (XML)
, 171
Extent of testing
, 276–277
External audit
, 8
technology
, 88
External auditors
, 2
characteristics of
, 138
work and role of
, 275–276
External contracts, continuous online auditing of
, 143–144
Exxon Company USA
, 183–184
FASB
, 188
File transfer protocol (FTP)
, 181
Financial Reporting and Auditing Agent with Net Knowledge (FRAANK)
, 250
Foreign Corrupt Practices Act (FCPA) of 1977
, 288
Formalization
, 219, 220, 222, 226, 231, 232, 233, 236, 237, 239–241, 245
FORTRAN
, 110, 119
Frequent audit
, 274
Fund Radar
, 132, 134
Future audit
, 291–295
General auditing software (GAS)
, 287
General business activity agents
, 306
Generalized audit software (GAS)
, 106
Generally Accepted Accounting Principles (GAAP)
, 54, 161, 187, 197, 199, 202, 275, 286
Generally accepted auditing standards (GAAS)
, 7, 32, 186
Generally accepted data standards (GADS)
, 316
Geographical distribution
, 66
Go Digital initiative
, 302
Google
, 43, 249
Guidance on continuous auditing
, 16
Haskins & Sells
, 287
HCA Inc.
, 273
Health service provider (HSP)
, 250, 253
continuous data assurance
, 261–268
Hierarchy of auditing
, 204–205
History of auditing
, 285–289
Home Depot
, 37
HP
, 3, 273
Human resources
, 1
IBM
, 3, 273, 287
IMS
, 90
internal audit approach
, 17
Watson
, 319
IDEA
, 195
IMS
, 90
Incremental technological change
, 26
Independence
, 41
Industrial Revolution
, 286
Information and communication technologies (ICT)
, 302
Information brokering agents
, 306
Information Systems Audit and Control Association (ISACA)
, 3
IT Audit and Assurance Guidelines, G42, Continuous Assurance
, 16
Information Systems Reliability service
, 129
Information technology (IT)
, 22–28, 221
Audit Data Standard
, 26–28
database audit
, 24–25
evolution of
, 22–23
incremental technological change
, 26
INGRES
, 105, 110, 117
Innovation
, 271–281
in audit methodology
, 273–278
technological process
, 272
Institute of Internal Auditors (IIA)
, 3, 248, 268
GTAG 3 Continuous Auditing: Implications for Assurance, Monitoring, and Risk Assessment
, 16
Intacct Corp.
, 176
Integrated test facilities (ITF)
, 108, 178, 179, 292
Interactive Data Extraction and Analysis (IDEA)
, 288
Internal audit
, 8, 54
technology
, 88
Internal auditors
, 2
work and role of
, 275–276
Internal controls
, 56, 76
Internal vs. external COA effects
, 144
International Federation of Accountants (IFAC)
, 60
International Journal of Accounting Information Systems
, 3
International Journal of Digital Accounting Research, The
, 3
Internet
, 170
Interoperation agents
, 306
Itau Unibanco
, 273
J. D. Edwards
, 127
Journal of Information System
, 3
Judgment assurance
, 201–202
Kaufman, Felix
, 286–287
Key performance indicators (KPIs)
, 12, 204, 206
Key risk indicators (KRIs)
, 14
King Commission
, 46
Kira Systems Inc.
, 319
KPMG
, 16, 174, 220, 244, 319
Large database systems, current environment for
, 90–91
Linear regression
, 266
Longitudinal analysis, by specific area of emphasis
research methods
, 67–70
topical area
, 70–75
Machine learning
, 315
Management advisory services (MAS)
, 161
Management information systems (MIS)
, 80, 87–89
Managerial effects, of continuous online auditing
, 143–144
Marketing
, 1
Materiality
, 38
MC (monitoring and control) layer
, 195, 203, 205–207, 228–229, 240, 243, 292–293
interaction with ERP system
, 229–230
McKesson & Robbins
, 286
Measurement rule assurance
, 199–200
MetLife
, 3, 273
Microsoft
, 318
Mobile robotics
, 303
Moral hazard, auditors
, 142–143
Motorola
, 43
MS Office
, 195
Multi-agent systems (MAS)
, 304
Nature of testing
, 276–277
Negotiation and contracting agents
, 306
New audit products
, 38–40
New continuous audit
, 28–36, 48
analytic method
, 34–36
assurance entity
, 36
assurance level
, 29–30
choice of assertion
, 33–34
chosen procedure
, 33
data source
, 32–33
dimensions of
, 29
time focus
, 30–31
time interval
, 32
Online financial reporting
, 145
Online systems, continuous audit of
, 87–103
alarms
, 95–96
analysis
, 94–95
analytics
, 95
large applications, current environment for
, 90–91
measurement
, 93
metrics
, 95
monitoring
, 93–94
software implementation
, 96–101
technology precluded auditors
, 88–89
Oracle
, 134, 179, 318
Oracle Applications
, 163, 227
Oracle Financials
, 127
Oversight Systems
, 249, 250
Ownership of assurance products
, 161–162
PASCAL
, 119
Payment infrastructure, for continuous assurance
, 160
Penetration testing
, 227, 257
PeopleSoft
, 127, 134, 163, 179
Personal (or interface) agents
, 306
Pilot implementation
, 222–226
Planning and scheduling agents
, 306
Predictive audit
, 3
PricewaterhouseCoopers (PWC)
, 59, 60, 248, 249, 268
Proactive audit
, 274
Probabilistic reporting
, 38
Proctor & Gamble (P&G)
, 3, 273
Program of research, in continuous online auditing
architectural issues
, 132–137
effects/consequences
, 138–146
factors affecting
, 137–138
Prometheus system
, 17, 18
Psychological effects, of continuous online auditing
, 143–144
Push button audit
, 252
Quality of audit, continuous online auditing effects on
, 141–143
auditor’s moral hazard
, 142–143
thoroughness
, 142
timeliness
, 141
Quality of Service (QoS) Framework
, 302
Rating criterion
, 255
RCAM system
, 11, 17–18
Real-time accounting systems (RTA)
, 58, 171–173, 178
Real-time analytical review procedures
, 135–136
Real-time assurance, demand for
, 158–159
Real Time Error Correction
, 267
Real-time reporting and assurance, demanding and promoting
, 57–59
Red Book. See Continuous Audit
Reengineering
, 153, 239–240, 249
Reporting
, 278
Research method
, 62, 63–64
longitudinal analysis of, by specific area of emphasis
, 67–70
SAP
, 12, 134, 188, 249, 318
Audit Action Sheet
, 224, 225
Business Warehouse
, 238
SAP R/3
, 127, 163, 179, 222, 224, 227, 229, 243
Sarbanes Oxley Act of 2002 (SOX)
, 1, 11, 29, 41, 192, 193, 251–252, 288, 296
Section
, 201, 65, 244, 252
Section
, 404, 65, 76, 214, 224, 244, 252, 254, 261, 268
Section
, 409, 58
Scope of auditing
, 134–135
Screen scrapping
, 11
Securities Act of 1933
, 7
Securities and Exchange Act of 1934
, 1, 7, 286
Securities and Exchange Commission (SEC)
, 286, 288
Security agents
, 307
Security of continuous online auditing
, 136–137
Selective Monitoring and Assessment of Risks and Trends (SMART) Auditing
, 183
Service oriented computing (SOC)
, 304
Siemens
, 3, 11, 59, 253, 268, 273
continuous control monitoring
, 254–261
continuous monitoring of business process controls
, 222–245
Simultaneous Equation Modeling (SEM)
, 265
Small Audit Support (SAS)
, 175
Snapshot approach and systems control and audit review facility (SCARF)
, 179
Software-based agent research
, 302
Special Committee on Assurance Services (SCAS). See Elliot Committee
Specific area of emphasis
, 65–66
longitudinal analysis of research method by
, 67–70
longitudinal analysis of topical area by
, 70–75
SQL
, 179
Standards, formalizing
, 79
Statement on Auditing Procedure (SAP)
, 286
Statement on Auditing Standards (SAS)
, 178, 266, 267
Stochastic opinion
, 38
Supply and demand, for continuous assurance
, 193–196
Supply chain management (SCM)
, 1, 153
System-level support agents
, 306
Systems audit
, 135
Systems Reliability Task Force (CICA/AICPA)
, 129–130
SysTrust
, 152, 160
denomination–system reliability assurance
, 130
Tagging data accuracy
, 209–210
Target
, 37
Taxonomic categories development
, 62–63
Technical architecture, of continuous assurance
, 162–164
Technological feasibility, of continuous online auditing
, 127
Technological process innovation
, 272
Tertiary ‘black box’ monitoring
, 207
Time focus
, 30–31
Time interval
, 32
Time series analysis
, 210–211
Timing of continuous assurance
, 202–203
Timing of testing
, 276–277
Topical area
, 62–65
longitudinal analysis of, by specific area of emphasis
, 70–75
Traditional auditing
, 289
distinguished from continuous auditing
, 273
Transaction evaluation
, 197–199
Transaction verification
, 267
Treasury transactions
, 3
Triple-entry accounting system
, 301
UNIVAC
, 286
Vector Autoregressive Models (VAR)
, 265–266
Verification
, 88
Walker, David
, 269
WebTrust
, 152, 158, 160
Seal assurance service
, 130
Wiener, Norbert
, 302
Wood, Richard
, 130
Wood Committee
, 171
WorldCom disaster
, 289
XBRLGL
, 250
- Prelims
- Introduction
- Continuous Auditing—A New View
- The Development and Intellectual Structure of Continuous Auditing Research
- The Continuous Audit of Online Systems
- Continuous Auditing of Database Applications: An Embedded Audit Module Approach
- Continuous Online Auditing: A Program of Research
- Feasibility and Economics of Continuous Assurance
- Continuous Auditing: Building Automated Auditing Capability
- Principles of Analytic Monitoring for Continuous Assurance
- Continuous Monitoring of Business Process Controls: A Pilot Implementation of a Continuous Auditing System at Siemens
- Putting Continuous Auditing Theory into Practice: Lessons from Two Pilot Implementations
- Innovation and Practice of Continuous Auditing
- Evolution of Auditing: From the Traditional Approach to the Future Audit
- An Audit Ecosystem to Support Blockchain-based Accounting and Assurance
- New Perspective: Data Analytics as a Precursor to Audit Automation
- Conclusion
- Appendix: Continuous Auditing Research Directory: 1983–2011
- About the Editors
- Index