MONTCLAIR, N.J.--(BUSINESS WIRE)--The increased focus on compliance and risk posture from executive management has created greater pressure and increased workload on internal audit. With fewer resources internal audit must reduce manual and paper-intensive processes by implementing automated Internal Audit processes and management.

Results of the Aberdeen Beyond Demonstrating Compliance study, sponsored by Modulo, revealed that companies earning top results are rebalancing their focus to include risk from operations, information technology (IT), strategy, and IT security in addition to financial risk.

Key findings of the study:

Internal audit’s current hit and run approach is a consequence of its heavy workloads and over-reliance on manual and paper-intensive processes, but it leaves much of the function’s potential added value to the business on the table according to Aberdeen.

Some of the main results pointed out by the research shows that the top-performing companies:

• Spend an average of US$400,000 less per year on their internal audit function, compared to all other respondents.
• Reduced the average time to produce an internal audit report by 21% compared to lagging performers.
• Decreased the average total cost to produce a completed internal audit report by 16% compared to laggards.

Register today for the executive webinar Beyond Demonstrating Compliance: The Reinvention of Internal Audit and receive a complimentary copy of the full research report.

About:

Modulo is a global leader in IT Governance, Risk Management and Compliance (GRC) automation. Our Award-winning Modulo Risk Manager provides organizations with a consistent and structured methodology to integrated IT GRC that greatly simplifies the process of risk and compliance management.

Aberdeen Group is the leading provider of fact-based research focused on the global technology-driven value chain. Since 1988, Aberdeen has been known as the “voice that matters” when it comes to understanding the measurable results being delivered by technology in business.

For more information about Modulo, please visit us at: http://www.modulo.com