Continuous monitoring vs continuous auditing. They are often put together. Moreover, these terms may sound synonymous. But, consider the difference in continuous monitoring vs continuous auditing.
What do these individual terms refer to? How do they do good in the business?
What Is Continuous Monitoring?
Also called ‘ConMon or Continuous Control Monitoring’ or CCM. This monitors business processes. Processes of what? On the other hand, how healthy is the IT infrastructure? How about the networks and applications installed in the cloud?
What is the purpose of this analysis? This sees to it if the level of business processes’ performance is still effective. Are the security controls of your information system still in control? Especially, there are inevitable changes in security threats.
Moreover, the analysis will help in the proactive measures of defense. Thus, risk management decisions are dependent on what CM implies
How About, Continuous Auditing?
Continuous auditing examines the internal processes. This may include accounting practices, compliance, risk controls, IT systems, and business procedures. Additionally, continuous audits are real-time. It self-operates error checking and data verification.
This is similar to continuous monitoring. Also, this aids in control and risk assessments.
These two terms are often put together. They are both continuous. In what sense? Both are automated. Both are ongoing processes.
These programs monitor and audit the systems on a more frequent basis. Plus, it is automated. This means ease of security assessments.
These terms are often merged as one. However, what are there primary differences? Consider continuous monitoring vs continuous auditing.
The Difference In Between
The question arises, ‘who owns the activity?’.
Auditing is an individual function. This is done by the auditor.
What does the auditor report? The auditor helps to identify areas that need improvement. As a result, this helps the board perform a better analysis. Thus, answers the concerns. Which are the weak points? How can we better our approach?
On the other hand, monitoring is another vital function. Continuous monitoring is for the company itself. Who are the key persons for this process? They are the managers.
Managers monitor the existing processes and analyses. First, they make sure to address the inadequacies. Second, they monitor the vulnerabilities. Also, are the processes still handling the vulnerabilities well?
Thus, the first difference is the ownership of tasks.
The Continuous Nature
Both are continuous. But what is the difference?
- Continuous auditing- does simply ‘auditing’ regularly. The difference is, it is more frequent than the standard process. This is done by technology. It collects data and analyzes these data quickly.
What does the auditor do? He will assess the data. Report the assessment. Also, do some tests that are part of the program.
- Continuous monitoring- on the other hand, is more direct and immediate. In what sense? It includes daily generation of reports. Moreover, in every hour, or even minutes.
The management reviews the data. They should make sure that the metrics stay at a manageable range. If otherwise, the management does appropriate measures to address it.
Therefore, these two often combined terms are somehow similar. However, they differ in areas of ownership and frequency. That is, even if they’re both ‘continuous’.