Webclass 54: Continuous Audit

Q1. Is Continuous auditing based on 100% transactions?

Yes it can be

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No it is based on sampling only

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Q2. Can continuous auditing reduce the time required for follow-up audits?

Yes

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No

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Q3. Can we prevent risk materialization with continuous auditing?

Yes

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No

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Q4. How can continuous auditing reduce external audit costs?

Because it becomes more efficient for external audit to do their work

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Because external audit will do the continuous auditing

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Q5. Why does continuous auditing drive a higher level of control adherence over time?

Allows audit to understand and take action when things don't happen as we expect them to

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Because it takes more time to do the controls while the controls are being done

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Q6. What were not the rules that Alain spoke about for the example concerning badge access?

Must badge in and out and if don't badge out it will automatically badge out at midnight

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If the people work more than six hours they must take a break

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Must badge in and out before 8PM

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Q7. Which tool is Neil using to find exceptions in the data and automatically email them out?

Arbutus

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ACL

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Q8. Who can automatic alerts go to?

Can go to whoever the audtior chooses to

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Only to the audit

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Q9. How do continuous controls monitoring allow management to be more empowered?

Because management can follow up on the points as they arise

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Because management will install the software on their system

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Q10. Does the software have to be installed on the client site?

Not necessarily, and if not installed on the client system, it can still connect to the database system

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Yes, it needs to be installed on the client site

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Q11. Can auditors be considered independent if they use continuous auditing?

Auditors can install continuous auditing, and run the system, for example during the first six months, and then hand over the system to management, if this is agreed with the audit committee.

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If auditors do continuous auditing then they are not independent from internal control.

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Q12. What is the Tactical Wins Approach?

Management can see straight off the impact. Includes facilitation workshops – typically 5 to 10 tests; Design and deploy; Results review and updates (as required)… takes 30 – 60 days to have continuous auditing for 5-10 continuous controls.

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Management decides to implement at least 100 controls in the first instance in order to show maximum coverage

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Q13. What is audit cycle (re-cycle)?

Grow incrementally each control. Audit team should be upskilled for each test as you go. Convert the audit test into a continuous audit test as we go forward. Provides evidence for follow-up audit.

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The internal audit team decide to implement all of the audit tests for the year as data analytics, so that they can be used next year.

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Q14. Does Arbutus have connectors to SAP?

Yes

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No

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Webclass 54: Continuous Audit

Webclass 54: Continuous Audit

admin June 9, 2026

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