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By Dimitris N. Chorafas (auth.)

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This is a mid-to-late 1980s' solution, which has itself been subject to steady The Role of Auditing 21 improvement. For instance, instead of expert systems resident at a workstation we are now using agents, or interactive knowledge artefacts which are mobile and proactive - flushing out inconsistencies, violations of compliance, inordinate risks, and other weak points, and therefore alerting their master to take the required action. But while technology is a welcome supplement to the auditor's functions, the No.

4 Front desk and back office should be separated, and the same is true of other functions, but all must be transparent to auditing 14 Why Internal Control Systems Must be Audited A steady and focused assessment and self-assessment requires a framework for reviewing and evaluating business areas, analyzing the design and execution of operations, evaluating necessary control means and methods, and achieving evaluation of ongoing activities in a way characterized by the quality of results. The more recent trend is towards: • • • Empowering auditing with a growing range of control responsibilities Continuously improving quality goals and expected quality results, Providing the audit functions with focus, so that it becomes top management's primary feedback element.

This leads to the definition of education and training requirements, as well as auditing research and development efforts and the sophistication of technological supports: • Today, research and development is the necessary supplement to any business activity worth its salt, and auditing is no exception. • Every function can be done better if we pay enough attention to improving it, as well as to shortening the timetables of deliverables by bettering the means used in its execution. The discussion above mentioned the use of expert systems as an example.

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