Dear Madam/ Dear Sir,
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In today%26rsquo;s economic environment, businesses are under constant pressure to reduce costs and work more efficiently. One of the ways they can do this is to improve internal controls so that emerging risks can be mitigated at an early stage, and losses can be reduced. So there is a pressing need for management to identify new approaches and tools enabling a sound internal control environment and release of quality information in real - time and on a continuous basis.

Continuous Auditing/Continuous Monitoring (CA/CM) is a relatively new concept which involves real - time and continuous collection of business info with the aid of IT techniques.

KPMG has concluded an international survey involving seven hundred organizations in the EMA region (Europe, the Middle East and Africa), including Romania and Moldova, on the adoption of the new concept as a tool for monitoring business risks. We would like to share the outcome with you in the following publication: Continuous auditing and continuous monitoring: The current status and the road ahead. It includes the results of the research, explores the advantages of applying CA/CM and assesses its implementation as well as looking at expected future developments.

We would also like to take this opportunity to thank all of you who participated in the survey.

The publication will provide you with additional insights into the current and future expected use of CA/CM. Please do not hesitate to contact us if you have any questions about this publication, or if you wish to discuss CA/CM in more detail.

Kind Regards,

Richard Perrin

Advisory Partner