CHAN CONTINUOUS CONTROL MONITORING TECHNOLOGY

 Continuous Control Monitoring Technology (CCMT) represents an exciting, high value approach to assessing internal controls. CCMT can be used by internal auditors to support continuous auditing and by management to support continuous monitoring. Continuous Auditing/Monitoring has been promoted by many as one of the most critical trends in internal auditing. PWC’s Internal Audit 2012* study stated:

 “To remain relevant in 2012, internal auditors need to move beyond a static, cyclical audit approach and adopt a continuous, comprehensive approach to audit and risk assessment—one that optimizes the use of technology.”

 Benefits of using CCMT include the ability to efficiently and effectively test 100 % of transactions and more timely detection of control breakdowns.

 Based on requests from our clients, CHAN has developed a number of CCMTs and is currently offering two web-based fully automated Continuous Control Monitoring Technology Tools on a fee-for-service basis: Accounts Receivable Hindsight and Revenue Charge Capture.