A computer system for conducting continuous assurance for internal control of financial transactions is disclosed. The computer system comprises a processor, a bus coupled to the processor, a memory coupled to the bus, a mass storage system coupled to the bus, and continuous assurance software resident in the memory. The continuous assurance software, when executed, performing the steps of accessing client database, downloading total population, performing analysis, evaluating analysis results, comparing total population to financial statements, determining risk ratings for each predetermined financial group, determining a materiality of anomalies, and displaying results.