Problem:
The CICA/AICPA's study defines a continuous audit as a
"...process or methodology that enables independent auditors to provide written assurance on a subject matter using a series of auditors' reports issued simultaneously with, or a short period of time after, the occurrence of events underlying the subject matter".
One of the success factors that the continuous audit would be based upon would be "reliable and well-controlled application systems".
What do you think is the likelihood of the continuous audit's success in the future? Do you see any potential roadblocks to that success?