An investigation into the impact of continuous auditing on the external auditors of the four largest banks in South Africa

Abstract

With the increasing demands on technology and the increase in the number of transactions processed by organisations, users of financial information require information that is accurate, valid and reliable, but, most importantly, relevant – which means having the information available on a timelier basis than before. These requirements therefore necessitate a process of continuous monitoring of controls from a management perspective, and a process of continuous auditing on, as far as possible, a real-time basis from an external audit perspective.