Continuous monitoring with machine learning and interactive data visualization: An application to a healthcare payroll process

Guangyue Zhang, Hilal Atasoy and Miklos A. Vasarhelyi

International Journal of Accounting Information Systems, 2022, vol. 46, issue C

Abstract: This paper presents a framework for proactive and intelligent continuous control monitoring (CCM) that helps management gain higher assurance over business processes and alleviate information overload. We adopt a design science approach towards systematically developing CCM artifacts, including operation and internal control violation display and multidimensional anomaly detection. We illustrate the design with an implementation project whereby a CPA firm, the firm's healthcare sector client, and the research team work together to improve the assurance provided by payroll reviews. This study contributes to the CCM literature by envisioning that interactive data visualization and machine learning technologies can alleviate information overload for management in CCM. Second, we provide real-world evidence on the improvement brought to economic and behavioral aspects of the control monitoring process compared to the traditional approach. We show that emerging technologies substantially improve the efficiency and effectiveness of risk assessment, anomaly detection, and loss prevention. We also contribute to control monitoring practice by providing guidance on artifact development and application for practitioners to follow.

Keywords: Continuous control monitoring; Internal audit; Visualization; Data analytics; Healthcare; Machine learning; Information overload; Payroll management (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ijoais:v:46:y:2022:i:c:s1467089522000227

DOI: 10.1016/j.accinf.2022.100570

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