Continuous audit: understand what it is and what its advantages are!

by Aaa Cas Auditors & Business Consultant in Dubai

Keeping the business transparent before society and the market is one of the greatest concerns of the manager in the times we live in. To avoid scandals that could put the company's reputation at stake and, also, guarantee credibility to its name, many organizations have adopted corporate governance and compliance practices, such as continuous auditing.

 

Therefore, we have prepared this post so that you understand what continuous auditing is, what this set of strategies is for and what are its main advantages. Want to know more about it? Then continue reading this content!

 

What is continuous auditing?

 

An audit encompasses a series of processes of analysis, inspection and mapping of the activities carried out by a company. Thus, it is possible to draw up an action plan that helps the company achieve its goals and also overcome possible challenges.

 

That said, a continuous audit is nothing more than keeping the organization under the constant process of monitoring its activities, thus ensuring more transparency to the business. This is due to the fact that the important information of the operation is always kept in evidence for all involved.

 

What is a continuous audit for?

 

From the adoption of a disciplined and systemic strategy, that is, a continuous audit, managers have what they need to generate maximum efficiency in the processes, as well as reduce risks and also improve productivity.

 

Therefore, the continuous audit is intended to be an indispensable element of control, whose possibilities for evaluation and monitoring are infinite. In addition, if carried out with the help of technology, continuous auditing contributes to more assertive decision-making and also for the organization to remain in compliance with legislation.

 

What are the benefits of continuous auditing?

 

Now that you know what continuous auditing is and what it is for, see what its main benefits are!

 

Helps to identify risks

 

With the help of technological tools, such as management software, it is possible to measure risk possibilities in the most diverse areas of the company - such as finance, purchasing cycle, accounting , inventory control, etc. — and identify them.

 

Creating contingency plans

 

By identifying operational problems and bottlenecks, measuring their possible impacts on the organization, managers have the information they need to create action, contingency and even risk mitigation plans.

 

Improvement in the decision-making process

 

The structuring of more assertive strategies and actions, as well as the alignment of processes with the organizational culture of the business, are aspects that directly impact a more intelligent decision-making process, since continuous Auditors in Dubai  allows managers to base concise information on the market, the behavior of customers and competitors and, of course, the company itself

 

As you can see, continuous auditing is a concept that encompasses compliance and corporate governance practices, with the main purpose of ensuring the transparency of processes and information so that the company remains in compliance with the legislation. In this way, not only is their reputation preserved, but also their credibility is improved in the eyes of society.

 

Do you have any interesting experiences about continuous auditing that you would like to share with us? Do you have an opinion different from what was covered in the content? Then leave your comment here on the post!

 

 Read also: What is the difference between consulting and auditing?

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Created on Mar 1st 2022 02:16. Viewed 165 times.

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