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Audit All the Time

Please note: This item is from our archives and was published in 2007. It is provided for historical reference. The content may be out of date and links may no longer function.

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According to the Ernst & Young Global Internal Audit Survey , 44% of companies’ internal auditors have implemented a continuous auditing program to:

Follow up on implemented recommendations

Identify control deficiencies

Monitor risks

Identify potential fraud

 

Why aren’t the other 56% of respondents using continuous auditing? The top three reasons given are:

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1. Do not see the value (40%)
2. Lack of skills within internal audit (25%)
3. Budget constraints (16%)

Source: Ernst & Young LLP’s Global Internal Audit Survey , www.ey.com.