By Mike Vilimek
If Ernst & Young’s Global Internal Audit Survey in 2008 was any indication, then it’s safe to assume most audit leaders would say no.
“Only 21% of respondents were able to complete the prior year Internal Audit plan, and only 24% completed up to 80% of the plan.”
Now granted that survey is over a year old, but have things changed for internal audit? Since then we have experienced the largest recession that many of us have seen. It brought reduced head counts, budget reductions and all sorts of renewed fraud concerns that often arise during recessions. It’s no wonder in a recent blog post titled Internal Audit Solutions for Tough Times , Richard Chambers, President & CEO of the IIA, listed ‘Leveraging technology to achieve greater efficiencies’ as among the 10 most significant challenges facing internal auditors this coming year. It stands to reason, if you’re not getting enough done and you don’t have additional resources, you’re going to need to work more efficiently, and the right technology can help you do that.
Key areas for efficiency gains through the use of ACL technology include:
Find out more: ACL Blog