Audit executives say they are hampered by a shortage of competent internal audit staff.
In a new survey of internal auditors, 70 percent said difficulty hiring competent staff was their biggest business challenge. Another 60 percent cited complex IT infrastructures.
The survey of 858 senior audit professionals was conducted by ACL Services Ltd. and the Institute of Internal Auditors. ACL — which provides business-assurance analytics to financial executives, compliance professionals, and auditors — and the IIA say the survey demonstrates that auditors view the adoption of continuous monitoring and auditing technology as an important solution to many of the problems identified.
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