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Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Monitoring Accounting Information via Control Charts

Monitoring Accounting Information via Control Charts
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Author(s): Richard B. Dull (Clemson University, USA)and David P. Tegarden (Virginia Tech, USA)
Copyright: 2003
Pages: 2
Source title: Information Technology & Organizations: Trends, Issues, Challenges & Solutions
Source Editor(s): Mehdi Khosrow-Pour, D.B.A. (Information Resources Management Association, USA)
DOI: 10.4018/978-1-59140-066-0.ch309
ISBN13: 9781616921248
EISBN13: 9781466665330


Currently, there is a lot of interest in supporting the continuous assurance of financial statements (Vasarhelyi, 2002). The current research suggests using control charts to assist decision-makers in the identification of patterns in the underlying processes that produce financial statements. Once interesting patterns are identified, decision-makers may focus on the processes that generated the patterns. The objective of continuous monitoring is detecting abnormalities as near as possible to the time of occurrence of the underlying event that generated the data. If an error or irregularity occurs, the situation can be corrected, and the effect mitigated. Overall, the purpose for monitoring financial information is to gain confidence that systems are operating as intended through the ability to identify and resolve of errors, irregularities, or inconsistencies.

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