Security News > 2021 > July > Most companies still rely on manual tools and tech for internal audit processes

Despite volatility of the risk landscape in the wake of the COVID-19 pandemic, most organizations still rely on manual tools and technologies for internal audit processes, a MetricStream survey reveals.

The state of internal audit processes 67% of internal auditors have had to change their plans, and reprioritize audit activities during the pandemic.

60% of internal auditors do not follow an agile approach to internal auditing.

80% of organizations still use office productivity software or point solutions while only 10% of respondents said they use one integrated solution for policy, audit, risk, and compliance management.

Organizations mostly use audit software for conducting field work, creating audit plans, scheduling audit and tasks, and creating reports.

Although changing business priorities, risk and compliance landscape, and the lack of right tools and technologies were cited as the top challenges faced by internal auditors, only 27% of those surveyed said that they will dedicate future investments towards adopting an integrated solution for policy, audit, risk, and compliance.

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