Audit Use of Technology Survey Early Results

The AuditNet® Audit Use of Technology Survey has gotten off to a great start with over 600 responses. A preliminary review of the responses to the questions reinforces the fact that although auditors have more advanced audit software solutions available then ever before, auditors are not embracing these state of the art technologies. Most auditors are still relying on basic tools for data analysis and have not even begun to consider software technology for areas such as GRC, continuous auditing and monitoring for fraud detection, audit management and more. When asked to rate themselves on the Audit Use of Technology Optimization Scale (AUTOS) more than half indicated that they were at the ad hoc or informal use stage or below. The main reasons cited for not embracing technology more were inadequate financial resources, limited low cost high quality training options and CAE support. 

We will be monitoring the survey results and issue another preliminary report before closing the survey this month. 

Stay tuned for the details on the audit software technologies being used and what will be needed to move professionals higher on the AUTOS.