How well companies implement technology in audit depends upon how well they’ve dealt with the basics. And more often than not, there’s still a lot of work to be done. What should you consider before moving forward with technology in audit?
Organizations have made significant steps towards implementing technology in audit over the last few years. However, although many companies are discussing and investing in emerging technologies such as blockchain and robotics, most still struggle with concepts like data analytics, control automation and digitalization of business processes.
In fact, we regularly see clients struggling with issues that emerged nearly a decade ago. According to the Harvey Nash/KPMG CIO Survey 2018, businesses still list their top three operational priorities as improving business processes, delivering a stable IT environment and increasing operational efficiencies.
Why are businesses unable to move beyond these issues?