Small Audit Departments Find Technology Critical to Success

31 July 2013

Wolters Kluwer Audit, Risk & Compliance Report Explains How Smaller Shops are Using Technology to Overcome Their Biggest Challenges

How are small audit departments successfully utilizing technology to strengthen compliance with IIA standards, make operations more efficient, and reduce their organizational footprint? That’s the focus of “Audit Technology Insights 2013,” a report published by Wolters Kluwer Audit, Risk & Compliance’s TeamMate line of audit management solutions.

“Audit Technology Insights 2013” features conversations with more than 16 audit leaders from small audit departments, those with 10 staff members or less, across multiple industries and organizations. The report highlights how small audit departments are leveraging technology to overcome a number of obstacles. These range from available time, funding, and skills constraints to the need to master new technologies and retain acquired knowledge.

“For small audit shops, the use of technology is an imperative, not a luxury, and is the only way to truly obtain their needed audit coverage,” said Mike Gowell, global vice president and general manager for TeamMate. “This report verifies that and offers direct insight into how smaller shops are utilizing technologies in very practical, yet powerful ways.”

“Audit Technology Insights 2013” is part of TeamMate’s ongoing effort to help auditors determine the effectiveness of their technology efforts. Earlier this year, TeamMate released the results of its annual Internal Audit Technology Survey (IATS), which was completed by 820 internal auditors across the globe and provided a baseline of responses to questions dealing with internal audit trends and directions.

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