Assurance is just the beginning of what board members and executives seek from their audit teams today. What new requirements are on the horizon, and how will strategic initiatives need to adapt? What risks and compliance issues threaten business performance? Moreover, leaders increasingly seek this information in real time throughout the year, not just during reporting periods and at board meetings.

It’s a new type of role with new responsibilities, and the backward-looking processes and pre-defined checklists of traditional auditing are no longer enough. To effectively serve as trusted advisors and demonstrate their business value, internal audit teams must take a more proactive approach, adopt more agile methods and expand their scope.

While traditional auditing follows a set schedule and timetable — gather data, compile analyses, rinse and repeat — continuous monitoring is, as its name implies, “always on.”

While traditional auditing typically involves highly manual activities, continuous monitoring takes advantage of technology such as automation, artificial intelligence, machine learning and robotic processes that transform how data is collected and analyzed. This enables teams to work more efficiently and frees up these skilled professionals for higher-level work.

Finally, where traditional auditing offers a snapshot of a discrete moment in time (often well after the fact), continuous monitoring offers consistent insights in near-real time — enabling audit teams to identify and address issues at once. This advantage of continuous reporting also improves visibility and reporting capabilities, both of which establish trust between organizational leadership and audit teams.

Amid rapid change and rising expectations — both internal and external — continuous monitoring is an audit team’s secret weapon for keeping up and navigating their shift from assurance specialist to valued business advisor. Here’s a breakdown of continuous monitoring’s many benefits.

Continuous monitoring builds credibility and trust

Board members and executive management want to ensure they’re making decisions with the most up-to-date, accurate data available. Continuous auditing helps audit teams fulfill this charge and earn trust and credibility with these organizational leaders.

Continuous data collection and analysis enables errors to be detected right away and on an ongoing basis. This allows for far swifter correction and remediation than the older, periodic style. Automation decreases the risk of human error, and rules-based processes further optimize accuracy. Audit teams can think of it almost like a second layer of control, ensuring that their accounts are watertight and stand up to scrutiny.

Furthermore, continuous monitoring collects more data, more frequently. This provides audit teams and the executives and board members to whom they report assurance that they’re making decisions with the most complete, up-to-date information available.

With continuous monitoring, audit teams and leadership also have a significantly greater scope of data to guide their decision-making. The audit management software used in continuous monitoring is able to tap into data from across the organization: transactions, finances, processes, operations and beyond — enabling them to look broadly and dive deep when needed. Because this information is collected on a continuous basis, they’re able to surface it at any time.

This not only strengthens an audit team’s ability to identify issues on the traditional auditing checklist, but it also gives them an expanded view into the state of the business. Do irregularities in an acquired company’s transaction data indicate control failures or possible fraud? Could a subsidiary’s compliance violations impact business performance? As scrutiny rises in areas such as data privacy, cybersecurity and company ethics and integrity, such enhanced visibility is essential.

As the purview of compliance and assurance expands into overall risk management, continuous monitoring gives audit teams superpowers for both immediate needs and future strategy.

Ongoing data collection and assessment enables constant risk awareness, so audit teams can work with their colleagues in IT and infosec to detect and address threats more swiftly.

Meanwhile, the collection of data across many systems, in concert with advanced analytics, enables teams to see patterns and connections across the enterprise. Could a rise in noncompliance actions in one department or division indicate greater trends across the organization? How well are internal operations mapping against risk frameworks and taxonomies, particularly as regulations in areas like cybersecurity evolve? These insights make audit teams a valuable partner to their organization’s legal, risk management and executive leadership teams.

Continuous monitoring gives audit a say on performance

Now more than ever, board members and executives want to know which areas of the business are operating as they should be and where lags and gaps could pose larger problems.

Audit teams are uniquely positioned to provide this insight. Their oversight, responsibilities and activities span the breadth of critical business functions: processes, objectives, risks, controls, technologies and more.

Continuous auditing strengthens auditors’ ability to join conversations about business performance. With the data now at their fingertips, they’re able to deliver a quick, early indication of a program’s or process’s effectiveness, or of gaps in need of remediation.

Continuous monitoring increases efficiency

Managing an expanding role and responsibilities takes time — something most audit teams don’t exactly have in abundance right now. Continuous monitoring can help here as well.

Digital audit management solutions enable accounts to be prepared faster, without compromising accuracy. Automation streamlines and accelerates time-consuming manual tasks. Finally, a continuous monitoring system enables audit work to be planned proactively, so that the team avoids the peaks and valleys of overwork before a big report or board meeting.

Continuous monitoring powers overall business insight

All of this time saved and data collected — over time and across the organization — adds up. In the long term, continuous monitoring provides audit teams with a powerful foundation for their new role as trusted advisor.

Real-time data with a big-picture view enables valuable insight into risk, compliance and broader business issues: cost reduction strategies, operational efficiencies and suggestions for improving business performance, revenues, brand reputation and beyond.

continuous audit brings auditors close to business processes

, so these teams overseeing their organization’s critical internal audit functions can strengthen their ability to deliver insight and business value.

Get the granularity and insight you need, with time-saving automation, in Diligent’s continuous monitoring solution.

Continuous monitoring: Using “always on” auditing for efficiency and business value

Staying current with the rapidly changing dynamics of governance and risk management isn’t a choice — it’s fundamental to your organization’s success. Becoming your organization’s expert on government policy, risk management, shareholder communications and ongoing education and training isn’t easy. You need help from both industry experts and your peers. That’s why we invite you to join us at 

Wondering if Elevate is for you? Here are ten reasons not to miss it:

We're featuring a lineup of renowned speakers and thought leaders, like Michael Rasmussen, GRC Analyst and Pundit at GRC 20/20 Research, and Cody Scott, Senior Analyst at Forrester, with dozens more to be announced soon. From AI and enterprise risk management to sustainability and nonprofit board experience, 

 covers a range of topics with more than 60 sessions that will make this your most valuable learning experience of the year. Gain valuable insights, explore actionable strategies and discover practical tools from the people shaping the future of GRC and ESG.

2. Invest in yourself with continued learning

You play a vital role in promoting a culture of ongoing learning in your organization, so now it's your turn to sharpen your own skills. Get practical, hands-on training and earn continuing education credits and CLEs for ongoing professional development.

3. Hear expert advice for getting the most from your Diligent software

Whether you're a seasoned user or just getting started, 

 prepares you to extract the full potential of Diligent software. You can ask questions, explore upcoming features and learn about industry-specific best practices — directly from Diligent subject matter and product experts.

Elevate is the year’s singular event where the world’s leading GRC solutions provider shares industry insights, best practices and emerging solutions that you can use to achieve your own GRC goals. Discover how to turn the art of governance into a clear strategic advantage by participating in a wide range of sessions, training workshops, round table discussions and solution demonstrations. Explore topics ranging from AI to ethical compliance to enterprise risk management. If you're looking for practical skills and actionable strategies that enhance everyday organizational practices and drive success, 

5. Build your network and create high-value connections


Networking is essential in the public and nonprofit sectors. Developing relationships with peers you trust is a great way to advance your organization—and your own career. Elevate is the ideal venue to forge these meaningful connections and develop relationships with like-minded professionals who face the same challenges you do. 

 provides an intentional space for connecting with 600+ of your peers. You’ll have multiple opportunities to form new relationships with people who understand the complexities of your sector.

Houston boasts a vibrant culinary scene with a wide range of restaurants and food trucks, offering everything from traditional Texan barbecue to international cuisines. The city is also home to many green spaces, so if you need fresh air, visit one of the city’s many parks and gardens.


7. Problem-solve with peers — and connect in person


Elevate allows you to explore and experiment with new ideas, new software and innovative strategies. So, don’t hold back! We designed Elevate for you to collaborate and problem-solve through workshops, training sessions, and networking opportunities. It's a chance to escape the daily grind, learn from experts and share ideas with peers.


8. Discover practical insights for real-world solutions


Elevate isn’t just about the theoretical. Every session offers actionable takeaways you can use to drive results right away. Bring practical insights, proven strategies and new tools back to your team and find new ways to solve familiar challenges — and create new growth opportunities in the process.

9. Strengthen governance and compliance across your organization

Elevate offers a unique opportunity to explore future innovations planned for the Diligent One Platform. Expand your understanding of how the platform strengthens governance and improves risk management and compliance workflows in your organization. In addition to new and emerging features, you’ll also have multiple opportunities to explore the many integrations we offer that contribute to improved outcomes within your organization or community.

10. Build a solid plan for long-term success

Diligent is investing in the future of GRC and continually introducing new technologies and best practices to help organizations like yours succeed. Elevate is the one event where all of this technology, knowledge and innovation is on display. Attending Elevate and absorbing everything it has to offer will give you the knowledge and tools you need to build the right long-term plan for your organization.

Is it obvious that we want leaders like you to be part of Elevate 2024? We hope so. Join us in Houston this September and get everything you need to make a difference in your organization and in the communities you serve.

Save up to $400 by registering before May 31. 

 to secure your spot (and save!) at Elevate 2024.

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Continuous monitoring: Using “always on” auditing for efficiency and business value

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Continuous monitoring: Using “always on” auditing for efficiency and business value

10 reasons why you won’t want to miss Elevate 2024

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Your Data Matters

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