PHOTO:
Adobe
Continuous monitoring can be traced back to the traditional business auditing practices and processes. However, it goes a bit further than the periodic, snapshot-like audits most companies are used to. Continuous monitoring (CM) refers to a continuous monitoring of transactions and controls that work to unearth and correct weak or ill-designed rules and processes to be replaced, thus minimizing the risks for companies.
For CM to be useful, it requires a company-wide effort so everybody involved in the process knows where the company was, where it is now, and what the future holds. It also needs to consider the significant global trends, as well as the organizationâs culture and the way companies manage risks.