Continuous Auditing has significant potential in the Cloud Services environment. Machine learning and variable computational time means an audit can be stopped and started relatively quickly and cost effectively. 

Useful in enhancing standard audit methodologies. Could be used in my Firm in up and coming audits.

Continuous auditing helps identify risks and issues as they occur rather than some time after the event, by which time it can be too late to address the problems.  The disaster that was Carillion particularly comes to mind.

Traditionally monthly management accounts are produced to sometimes very tight timescales.  My present organisation doesn't do this, but instead takes a longer approach thus providing time to review costs and other numbers in detail.