According to a new survey from Thomson Reuters Accelus
, internal audit practitioners are carrying extra burden to stay on top of the regulatory changes and keep up with the changed expectations. The survey is based on answers from over 1,100 internal audit practitioners around the world that took place during February and March 2013.
The report states that while corporations are increasing their expectations of what Internal Audit can and should do, they also display a concern of insufficient skilled resources.
- 26% of organisations stated Fraud and Corruption as of their top three areas for time and resources
- 61% of organisations’ audit committees only reported to the board on a quarterly basis
- 50% of auditors thought that the risk management tools they currently used either provided them with no satisfaction or left them very dissatisfied when used to conduct risk assessments
- 47% of the respondents in Asia answered that their risk management function ranged from implemented (but requires further work and resources) to robust and embedded