EMPOWERING THE PROGRESS OF SOX INNOVATION WITH ANALYTICS AND AUTOMATION Findings From a SOX Compliance Poll of Audit and Finance Executives and Professionals Key takeaways from our poll The scope, hours and costs for SOX compliance continue to increase.Most organisations are not currently using AI in their SOX compliance programmes, but they acknowledge its potential for transformation.There is a significant opportunity to use enabling technologies to manage SOX compliance costs — just one in three organisations currently are doing so.Insufficient availability of skilled personnel is a significant barrier to using analytics and automation in SOX compliance — just one in five poll participants have a high level of confidence that they possess the necessary skills.Yet, few organisations see training and development in the use of analytics and automation in SOX compliance as a high priority. Read more There is an urgent need among SOX professionals to ramp up the development of AI/ML skills. Topics Internal Audit and Corporate Governance Risk Management and Regulatory Compliance Data, Analytics and Business Intelligence Technology Enablement Highlights of organisations believe AI has high or moderate potential to transform SOX compliance activities. of organisations are currently not using AI to support their SOX compliance programme. of poll participants indicated they lack the necessary skills or have room for improvement when it comes to utilising SOX compliance technologies effectively. of poll participants noted a moderate or significant increase in SOX compliance scope over the past year. of poll participants noted an increase in SOX compliance internal costs over the last two years. of audit and finance executives and leaders say IT access controls and security represent the area of the control environment in which they encounter the most challenges or deficiencies. View past SOX survey reports: 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 Automation and technology tools can ease the burden of SOX work yet only 35% are maximising the use of enabling technologies. Leadership Andrew Struthers-Kennedy Andrew is Protiviti’s Global Leader of Internal Audit & Financial Advisory services. He is responsible for the strategy, offerings, consulting delivery and external alliance partnerships for all Protiviti's internal audit capabilities, including technology audit, ... Learn More Jeffrey Hau Jeffrey leads Protiviti Hong Kong's risk and compliance and internal audit practices with more than 20 years of experience in regulatory compliance consulting and auditing. As the leader of the financial services practice, his specific areas of focus include advising ... Learn More Doris Lam Doris is a director at Protiviti Hong Kong, with over 15 years of experience in providing internal audit and risk management consulting services in Hong Kong and China. She has extensive knowledge in business process improvement, Sarbanes-Oxley and financial ... Learn More Featured insights SURVEY SOX Compliance Amid Rising Costs, Labor Shortages and Other Post-Pandemic Challenges Assessing SOX internal costs, hours, controls and other trends in the results of Protiviti’s 2022 Sarbanes-Oxley Compliance SurveyTwo-plus years into contending with a global pandemic, business leaders recognise that Sarbanes-Oxley compliance... SURVEY Internal Auditing Around the World® Studying the cosmos has transformed our understanding of how planets, stars and galaxies form, and revealed deeper insights into the fundamental nature of the universe. Astrophysicists and cosmologists pursue this knowledge, in effect, by looking... WHITEPAPER Exploring the Next Generation of Internal Auditing Within the Technology, Media & Telecommunications Industry Mammoth waves of disruption are both buffeting and igniting organizations in their drive to change and stay relevant, and internal audit functions have seen the effects. It’s now time for internal audit leaders and their teams to take the initiative,... SURVEY The Next-Generation Internal Audit Journey Needs to Begin Now Assessing the North American Results of Protiviti’s 2021 Next-Generation Internal Audit Survey Every Journey Begins With the First Step A global pandemic caused by a rare airborne virus that continues to affect organisations in different ways... WHITEPAPER SOX Compliance and the Promise of Technology and Automation Assessing the results of Protiviti’s 2021 SOX Compliance Survey within the energy and utilities industries It’s been more than a year since a historic global pandemic changed the way companies operate in the near-term and very likely for the long... Button Button
of poll participants indicated they lack the necessary skills or have room for improvement when it comes to utilising SOX compliance technologies effectively.
of poll participants noted a moderate or significant increase in SOX compliance scope over the past year.
of audit and finance executives and leaders say IT access controls and security represent the area of the control environment in which they encounter the most challenges or deficiencies.
