Report: Nearly 9 in 10 internal auditors find it difficult to prevent fraud in pandemic
By Canadian Security StaffNews Data Security fraud internal audit software remote work
New research from CaseWare International shows that 89 per cent of internal auditors have experienced difficulty in preventing fraud following the large-scale shift to remote work; moreover, over one third of organizations surveyed report lacking fraud prevention and response plans.
To produce the report, CaseWare International surveyed 3,296 business professionals tasked with internal auditing globally. Participants answered questions about how they address challenges, manage changes in their business and how they use technology to battle fraud risk. CaseWare International has documented results of this survey in the 2022 State of Internal Audit Trends Report and made it available to the public free of charge.
“We look to the market to tell us what solutions they need and this report tells us that in a remote first world, internal auditors increasingly need tools to effectively mitigate and minimize fraud risks and impact,” said Dave Osborne, CEO at CaseWare in a statement.
“A comprehensive data analysis software like CaseWare IDEA is the game changing solution for forward thinking internal auditors looking to gain new perspectives and exceed client expectations.”
More than 70 per cent of companies surveyed reported that the pandemic has increased fraud threats within their organizations.
More than 90 per cent of internal auditors reported that they are sometimes or always involved in a fraud investigation.
Forty percent of internal auditors said they either don’t currently use or are unaware of whether their organization uses analytics software to help mitigate fraud risks.
At the same time, 43 per cent of participants said the pandemic has caused their organizations to invest more in technology, and CaseWare suggests this signals a transition toward digital technology adoption to replace manual processes for many.
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