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Rethinking The Future of Auditing: How an Integrated Continuous Auditing Approach Can Leverage the Full Potential of Continuous Auditing

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  • Weins, Sebastian
  • Alm, Bastian
  • Wang, Tawei

Abstract

The concept of Continuous Auditing has been around for more than three decades. The ongoing discussion on the benefits and models on adoption has made Continuous Auditing become a more critical issue. Although a lot of progress has been made in previous years, we argue that the entire potential of Continuous Auditing still remains unrevealed. This paper provides a new conceptual framework on how to bring Continuous Auditing to the next level. It goes beyond the existing technical concepts and solutions for implementation by developing a more holistic Integrated Continuous Auditing Approach. We illustrate how Continuous Auditing can be adopted in order to increase audit efficiency by enabling a new collaborative design between internal and external auditors as well as by readjusting the roles of different auditing parties.

Suggested Citation

  • Weins, Sebastian & Alm, Bastian & Wang, Tawei, 2016. "Rethinking The Future of Auditing: How an Integrated Continuous Auditing Approach Can Leverage the Full Potential of Continuous Auditing," EconStor Preprints 146401, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esprep:146401
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    References listed on IDEAS

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    1. Bastian Alm, 2013. "Erfolgskontrolle der regionalen Wirtschaftsförderung. Möglichkeiten und Grenzen der ökonometrischen Wirkungsforschung," Volkswirtschaftliche Schriften, Duncker & Humblot GmbH, Berlin, edition 1, volume 127, number 54065.
    2. David J. Teece, 2003. "Towards an Economic Theory of the Multiproduct Firm," World Scientific Book Chapters, in: Essays In Technology Management And Policy Selected Papers of David J Teece, chapter 15, pages 419-446, World Scientific Publishing Co. Pte. Ltd..
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    Keywords

    continuous auditing; internal audit; audit collaboration;
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