The continuous monitoring of business processes, a concept that has been promoted by academics and practitioners alike for the last two decades, has been made widely feasible through the advancement of information technology (IT) and its resulting combination of low hardware and software costs, high storage capacity, and high processing speeds. While the concept of continuous monitoring is not new (Groomer and Murthy 1989; Vasarhelyi and Halper 1991; Alles et al. 2006; Alles et al. 2008; Brown et al. 2007), the actual adoption of continuous monitoring technology by organizations has fallen short in comparison (Chan and Vasarhelyi 2011; Grant Thornton 2011; KPMG 2010a; PwC 2006). A white paper by one of the Big Four firms makes the observation that, in spite of the potential benefits of continuous monitoring (CM), many enterprises have failed to adopt CM technology due to...
