how financial services caes are adding value beyond compliance

1

Click here to load reader

Upload: grant-thornton-llp

Post on 20-Jun-2015

229 views

Category:

Economy & Finance


2 download

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/1vlxANx

TRANSCRIPT

Page 1: How financial services CAEs are adding value beyond compliance

“Grant Thornton” refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. Services are delivered by the member firms. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions. Please see grantthornton.com for further details.

© 2014 Grant Thornton LLP | All rights reserved | U.S. member firm of Grant Thornton International Ltd

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