how financial services caes are adding value beyond compliance
DESCRIPTION
In Grant Thornton LLP’s fourth annual survey of chief audit executives (CAEs), financial services CAEs revealed that increased regulatory burdens are forcing them to make trade-offs between meeting regulatory compliance requirements and pursuing higher-value activities. Read the full report: http://gt-us.co/1vlxANxTRANSCRIPT
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Financial services CAEs are feeling the pain of regulation even more than their peers in other industries.
of CAEs see increased cost as the biggest impact of regulation.
of CAEs say they are unable to devote resources to higher-value activities.
CAEs have opportunities to create real value
Optimizing compliance with the one-to-many approach
of CAEs believe they can leverage up to half of their control testing for multiple compliance requirements.
But only 66% of CAEs are doing it.
of CAEs use data analytics for a more efficient audit process.
32+68+D 44% 69+31+D 23%
For more information, read the report at grantthornton.com/fs-cae-survey
Better leveraging technology 92%
Employing data analytics
Only 37% of CAEs use a GRC-specific tool.
Doing more with less:
How CAEs are adding value beyond compliance