Continuous Auditing

David Y. Chan is an Associate Professor at St. John’s University. Dr. Chan earned a Ph.D. in Management with a concentration in Accounting Information Systems from Rutgers, The State University of New Jersey. He also holds a Master of Science in Accounting and Bachelor of Science in Finance from St. John's University. Dr. Chan is a licensed Certified Public Accountant in the State of New York, Certified Internal Auditor, Certified Information Systems Auditor, and Certified Fraud Examiner. His teaching interest includes financial auditing, internal auditing, fraud examination, and information technology auditing. Dr. Chan's research interest includes auditing, auditing technology, and the application of technology in accounting and auditing.Victoria Chiu received her Ph.D. in Accounting from Rutgers, The State University of New Jersey. She is an Assistant Professor at the State University of New York at Oswego. Dr. Chiu’s teaching interests include financial accounting, managerial accounting and cost accounting. Prior to joining SUNY Oswego, Dr. Chiu was an Assistant Professor at SUNY New Paltz and the Dean’s Distinguished Graduate Instructor at Rutgers University. Her research interests include accounting bibliometrics, continuous audit, emerging technologies in accounting, textual and classification analysis, product costing analysis and accounting pedagogy. Dr. Chiu's research has been published in a number of academic journals such as International Journal of Accounting Information Systems, Journal of Accounting Literature, Eurasian Journal of Business and Economics, Journal of Emerging Technologies in Accounting…etc. Dr. Chiu is an active member of the American Accounting Association and Strategic and Emerging Technologies Section.Miklos A. Vasarhelyi [Ph.D in MIS (UCLA) MBA (MIT) and BS in Economics and Electrical Engineering (the State University of Guanabara and Catholic University of Rio de Janeiro)]. Professor Vasarhelyi is currently the KPMG Distinguished Professor of Accounting Information Systems and Director of the Rutgers Accounting Research Center (RARC) & Continuous Auditing and Reporting Laboratory (CARLAB) at Rutgers University. He has published more than 200 journal articles, 20 books, and directed over 40 PhD theses. He is the editor of the Journal of Emerging Technologies in Accounting. Professor Vasarhelyi has taught executive programs on electronic commerce to many large international organizations including GE, J&J, Eli Lilly, Baxter, ADL, Volvo, Siemens, Chase Bank, and AT&T. Professor Vasarhelyi is credited with the original continuous audit application and as the leading researcher in this field. The CAR Lab’s projects include among others Siemens, KPMG, P&G, AICPA, CA Technologies, and Itau-Unibanco. Prof. Vasarhelyi has been awarded the Outstanding Educator of the year by the AAA in 2014 and the Wasserman award by ISACA in 2013.

Accounting researchers explain the theory and practice of continuous auditing, which many in the profession expect to be the next paradigm in auditing. Their topics include the development and intellectual structure of continuous auditing research, the continuous auditing of database applications: an embedded audit module approach, continuous online auditing: a program of research, principles of analytic monitoring for continuous assurance, the continuous monitoring of business process controls: a pilot implementation of a continuous auditing system as Siemens, the evolution of auditing: from the traditional approach to the future audit, and new perspectives: data analytics as a precursor to audit automation.

• Introduction; David Y Chan, Victoria Chiu, and Miklos A. Vasarhelyi 1. Continuous Auditing--A New View; Nancy Bumgarner, Miklos A. Vasarhelyi 2. The development and intellectual structure of continuous auditing research; Victoria Chiu, Qi Liu, Miklos A. Vasarhelyi 3. The Continuous Audit of Online Systems; Miklos A. Vasarhelyi, Fern B. Halper 4. Continuous Auditing of Database Applications: An Embedded Audit Module Approach; S. Michael Groomer, Uday S. Murthy 5. Continuous Online Auditing: A Program of Research; Alexander Kogan, Ephraim F. Sudit, Miklos A. Vasarhelyi 6. Feasibility and Economics of Continuous Assurance; Michael G. Alles, Alexander Kogan, Miklos A. Vasarhelyi 7. Continuous Auditing: Building Automated Auditing Capability; Zabihollah Rezaee, Ahmad Sharbatoghlie, Rick Elam,Peter L. McMickle 8. Principles of Analytic Monitoring for Continuous Assurance; Miklos A. Vasarhelyi, Michael G. Alles, Alexander Kogan, Rutgers University 9. Continuous monitoring of business process controls: A pilot implementation of a continuous auditing system at Siemens; Michael Alles, Gerard Brennan, Alexander Kogan, Miklos A. Vasarhelyi 10. Putting Continuous Auditing Theory into Practice: Lessons from Two Pilot Implementations; Michael G. Alles, Alexander Kogan, Miklos A. Vasarhelyi 11. Innovation and Practice of Continuous Auditing; David Y. Chan, Miklos A. Vasarhelyi 12. Evolution of Auditing: From the Traditional Approach to the Future Audit; Paul Eric Byrnes, Abdullah Al-Awadhi, Benita Gullvist, Helen Brown-Liburd, Ryan Teeter, J. Donald Warren, Miklos Vasarhelyi 13. An Audit Ecosystem to support Blockchain-based Accounting & Assurance; Stephen Kozlowski 14. New Perspective: Data Analytics as a Precursor to Audit Automation; David Y. Chan, Victoria Chiu, Miklos A. Vasarhelyi Conclusion; David Y. Chan, Victoria Chiu, Miklos A. Vasarhelyi