Agile Auditing: Fundamentals and Applications

Agile Auditing: Fundamentals and Applications teaches readers how to use agile project management principles to improve the efficiency and effectiveness of auditing. It emphasizes risk-based auditing, collaboration, and speedy delivery of assurance assessments while ensuring quality results.

\n Format: Hardback
\n Length: 336 pages
\n Publication date: 23 August 2021
\n Publisher: John Wiley & Sons Inc
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Agile auditing is a revolutionary approach to the field of auditing that leverages cutting-edge technologies to enhance efficiency, effectiveness, and quality of assurance assessments. By embracing agile project management principles, auditors can adapt to rapidly changing business environments and deliver value to their clients in a more timely and cost-effective manner.

One of the key benefits of agile auditing is its emphasis on risk-based auditing. Rather than relying on traditional, rule-based approaches, agile auditing focuses on identifying and assessing the areas that pose the greatest material risks to the business under audit. This approach allows auditors to prioritize their efforts and allocate resources more effectively, ensuring that they focus on the most critical issues that impact the organization's success.

Another hallmark of agile auditing is collaboration. Agile auditing encourages auditors to work closely with stakeholders, including management, employees, and customers, to gather information and understand the business's operations and risks. This collaborative approach fosters a deeper understanding of the organization and enables auditors to provide more insightful and valuable assurance assessments.

Agile auditing also emphasizes the speedy delivery of meaningful assurance assessments. By adopting agile techniques such as sprint planning, daily stand-up meetings, and continuous feedback, auditors can deliver results more quickly and efficiently. This not only saves time and resources for the organization but also provides auditors with a more up-to-date and accurate view of the business's financial and operational performance.

In addition to these benefits, agile auditing also provides auditors with a range of new tools and techniques that can enhance their effectiveness. For example, machine learning and virtual conferencing technologies can be used to automate routine audit tasks and facilitate remote collaboration. Process automation can be used to streamline audit processes and reduce the risk of errors. Data analytics can be used to identify patterns and trends in audit data and provide insights that can inform decision-making.

Despite its many benefits, agile auditing is not without its challenges. One of the biggest challenges is the need for auditors to develop new skills and competencies to implement agile techniques and methods. Auditors must be comfortable working in a fast-paced, collaborative environment and be able to adapt to changing priorities and requirements.

Another challenge is the potential for cultural resistance within organizations. Some organizations may be hesitant to adopt agile auditing due to concerns about the impact on their existing processes and systems. It is important for auditors to communicate the benefits of agile auditing and work closely with management to ensure that the transition is successful.

To address these challenges, auditors can take several steps. First, they can invest in training and development programs to enhance their skills and competencies in agile auditing. Second, they can work closely with management to identify the areas that are most in need of improvement and develop a plan for implementing agile auditing. Third, they can communicate the benefits of agile auditing to stakeholders and build support for the initiative.

In conclusion, agile auditing is a revolutionary approach to the field of auditing that leverages cutting-edge technologies to enhance efficiency, effectiveness, and quality of assurance assessments. By embracing agile project management principles, auditors can adapt to rapidly changing business environments and deliver value to their clients in a more timely and cost-effective manner. While there are challenges to implementing agile auditing, by developing new skills and competencies and working closely with management, auditors can overcome these challenges and drive positive change within their organizations.

\n Weight: 556g\n
Dimension: 161 x 236 x 35 (mm)\n
ISBN-13: 9781119693321\n \n