Firms warned to step up IT auditing.
Only 16 per cent of respondents to KPMG's IT internal audit survey have rolling or quarterly planning processes in place, while a quarter of respondents said that they didn't use a planning framework at all. The big-four auditor surveyed 297 finance professionals across EMEA to identify trends in IT internal audit practices.
"It's clear from our survey that IT internal auditors must position themselves at the heart of the business to ensure that the technology risks are well understood," said Warren Middleton, global head of IT internal audit at KPMG. "Regular reviews should be a fundamental part of the audit process--especially in the current economic climate. Life without technology is unthinkable and the need to get this right should make it a priority for all boards."
More seriously, 59 per cent said they did not align their IT internal audits with their wider governance plans. "This is a worrying trend in a recession, where the propensity for fraud remains high," Middleton said.
Visit www.snipurl.com/hsrn2 to access the survey report.