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System and method of continuous assurance for internal control

  • US 20060080281A1
  • Filed: 10/14/2005
  • Published: 04/13/2006
  • Est. Priority Date: 10/12/2004
  • Status: Active Grant
First Claim
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1. A continuous assurance for internal control method comprising the steps of:

  • accessing client database;

    downloading total population from client database;

    performing statistical analysis;

    evaluating analysis results;

    comparing total population to financial disclosures, wherein the financial disclosures are grouped by a predetermined selection;

    determining a risk rating for each predetermined group; and

    determining a materiality of anomalies, wherein the materiality of anomalies is related to the effectiveness of the internal control of the accounting system.

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