Newark, N.J. (April 12, 2004) -- Rutgers University plans to establish a lab to research and test technologies and methods for continuous business reporting and auditing.

Continuous business reporting refers to the ability for companies to provide timely, updated, audited financial information.

The Continuous Assurance and Reporting Laboratory (CAR-Lab), which will be funded by a grant from KPMG, will be housed at the Rutgers Accounting Research Center. It will develop experiments that use actual corporate information from cooperating companies to test continuous auditing techniques.

The CAR-Lab hopes to improve audit procedures by publishing its findings in research reports and presenting live demonstrations of new technologies to business executives, policy-makers and regulators. In addition, an advisory board composed of professionals in accounting, auditing, information systems and technology will advise the CAR-Lab.

-- WebCPA Staff

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