CPE Session 15: Sunday, August 7, 8:00 AM – 12:00 PM
Continuous Audit and Reporting Laboratory:
Assurance in a Real-Time Economy
Description/Objectives:
The objectives of this workshop are to provide an overview of the state of the art of continuous auditing and assurance (CAA), describe the work currently in progress at the continuous audit and reporting laboratory (CARLAB), and to discuss significant issues, challenges, and opportunities going forward.
- Historical events, current practices, demand for CAA, auditor/assurer independence, and the relationship with the Emerging Business Reporting Model.
- Continuous assurance technologies, emerging practices, and products in the market.
- Continuity equations and the work with HCA.
- Continuous Control Monitoring and the work with Siemens.
- The continuous audit simulator and work with Liberty data.
- Impounding control information on XBRL tags and the work with KPMG including issues around data level assurance and links CAA to the developments in XBRL, XML, and Web Services.
- Conclusions on the needs for standards, the emerging issues on continuous reporting, necessary condition and contingencies for CAA, and a discussion of promising research directions.
Format/Structure:
- Historical events, current practices, demand for CAA, auditor/assurer independence, and the relationship with the EBRM.
- Continuous assurance technologies, emerging practices, and products in the market.
- Continuity equations and the work with HCA.
- Continuous Control Monitoring and the work with Siemens
- The continuous audit simulator and work with Liberty data
- Impounding control information on XBRL tags and the work with KPMG.
- Conclusions: the emerging issues on continuous reporting, necessary condition and contingencies for CAA, and a discussion of promising research directions.
Intended Audience:
Given its broad focus, the workshop is useful for accounting faculty with an interest in continuous auditing and assurance, e.g., AIS, auditing, managerial. The discussion is not technical, and no prior knowledge of this area is necessary. Also, the workshop will be of value to accounting practitioners, who wish to gain knowledge of the state of the art of continuous auditing and assurance and emerging issues.
Presenters:
Miklos A. Vasarhelyi, Rutgers University
Michael Alles, Rutgers University
Alexander Kogan, Rutgers University
Don Warren, Rutgers University
Lili Sun, Rutgers University
David Vun Kannon, KPMG
Sponsor:
Artificial Intelligence/Emerging Technologies Section
* Denotes special requirements or prerequisite
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