Survey finds SOX compliance wanting in use of data and automation
Protiviti’s tenth annual Sarbanes-Oxley (SOX) Compliance Survey has found that 47% of audit teams are neglecting to adopt the advanced next-generation technologies capable of making the compliance process less time-intensive and more efficient. Among the survey respondents already leveraging technology in their organization’s SOX compliance process, data analytics is the most widely used tool (41%), followed by automated process approval workflow tools (38%) and access controls, user provisioning and segregation of duties review tools (36%). The Protiviti report, titled Benchmarking SOX Costs, Hours and Controls, is based on a survey of 693 audit, compliance and finance leaders and professionals at U.S. public companies, representing a wide range of industries.
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