The Impact of Continuous Auditing on Fraud Prevention and Real-Time Financial Reporting Accuracy
Posted: Aug 31, 2015
Abstract
This research investigates the transformative effects of continuous auditing methodologies on organizational fraud prevention capabilities and financial reporting accuracy in real-time environments. Traditional auditing approaches, characterized by periodic reviews and retrospective analysis, have demonstrated significant limitations in detecting sophisticated fraud schemes and ensuring timely financial information accuracy. Our study introduces a novel framework that integrates artificial intelligence, blockchain technology, and behavioral analytics to create a comprehensive continuous auditing ecosystem. We developed and tested this framework across three distinct industry sectors—financial services, healthcare, and manufacturing—over an 18-month period. The methodology employed a mixed-methods approach combining quantitative analysis of transaction data with qualitative assessments of internal control effectiveness. Our findings reveal that organizations implementing the proposed continuous auditing framework experienced an 87
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