Continuous auditing 1. How has this concept developed? 2. How has the accounting information system and other technologies opened up the opportunity for continuous auditing? 3. What is involved in calculating the costs and benefits of continuous auditing? 4. What other technologies will be available to make the cost benefit of continuous auditing a reality for companies? 5. What will this do to the future of the auditor?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

Continuous auditing

1. How has this concept developed?

2. How has the accounting information system and other technologies opened up the opportunity for continuous auditing?

3. What is involved in calculating the costs and benefits of continuous auditing?

4. What other technologies will be available to make the cost benefit of continuous auditing a reality for companies?

5. What will this do to the future of the auditor?

Expert Solution
Step 1

Audit Planning:

Audit Planning signifies fostering an overall technique and a nitty-gritty methodology for the normal nature, timing, and degree of the audit. It leads toward the start of the review cycle to guarantee that suitable consideration is dedicated to significant regions, potential issues are instantly recognized, work is finished speedily, and work is appropriately organized.

 

trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 6 steps

Blurred answer
Knowledge Booster
Internal Control Audit
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education