The most widespread challenge facing audit, risk management and compliance professionals is putting their work into a context that speaks to executives. According to the 2014 GRC Technology Pulse Survey, conducted by ACL, the company that is transforming audit and risk, 42 percent of the more than 1,700 finance, audit, risk, and compliance professionals surveyed cited this issue as the largest obstacle they face today.
One reason this remains a challenge may well be that executives are not providing the resources required. A majority number of respondents reported that they are not using purpose-built audit and risk software, with 27 percent reporting they use Microsoft products like Word and Excel, shared drives or Sharepoint. While these general products are adequate for many tasks, they fall short of easily creating visibility around an organization’s major risks, or linking findings to actionable results.
source : cpapracticeadvisor.com