JMC speaks at IIAP webinar
SGV Consulting Partner and EY ASEAN Consulting Quality Leader Joseph Ian M. Canlas (JMC) was one of the panelists at a webinar titled Benefits and Challenges of Continuous Auditing hosted by the Institute of Internal Auditors Philippines (IIAP). Other panelists and participants included risk, compliance and governance professionals in the Philippines.
JMC’s presentation at the IIAP webinar
The webinar covered the benefits and challenges of continuous auditing, its effects on organizations, and its difference from continuous monitoring. Drawing from his experience as an internal audit professional, JMC provided tips and techniques on how companies can implement continuous auditing to positively impact their organizations. He discussed how a technology-driven continuous auditing program can help organizations detect fraud and errors, accomplish compliance with regulatory guidelines and policies, and minimize cost while increasing productivity and effectiveness. He also emphasized the difference between continuous auditing and continuous monitoring as explained in the Global Audit Technology Guide of the Institute of Internal Auditors. Continuous auditing is primarily a method used by auditors while continuous monitoring is overseen by management functions. However, with proper coordination between the two activities, continuous auditing and monitoring can more effectively identify the gaps and weaknesses in risk management and control, and create a more responsive environment.