85% of corporate audit and compliance workers in big firms find data too hard to access

The overwhelming majority of corporate audit and compliance workers in large firms find the access to information to be difficult, a report from Sinequa claims.

Its survey of decision-makers across Europe also claims that 90% of information relevant to investigations and audits is hidden within unstructured sources, such as emails and documents.

As a result of the poor structure, a third of respondents in French and English-speaking areas said they spend five hours reporting assignments every day.

Some of the other finds in the report include: 12% respondents consider access to data in their organisation as easy, 73% considered qualified personnel had a direct impact on risk assessment and mapping, and 77% of respondents stated that digital tools were essential to a comprehensive risk approach.

Sinequa’s report also highlights a need for employees to be well versed in acquiring data. Despite this, 78% considered their teams to have average or poor digital skills. Furthermore, 25% felt there a was a lack of data culture.

The survey also revealed 58% of respondents did not consider their staff to be efficient in producing reports.

However, it is not all doom and gloom. A fifth of audit and compliance leaders want IT solutions that allow their teams to focus on higher-value assignments.

Finally, 25% of English-speaking respondents said intelligence tools were a strategic driver for them.

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