Assess your business’s everyday audit readiness

ITWeb, in collaboration with Global Micro, has introduced a survey exploring how South African businesses approach audit readiness on a daily basis and if they possess the necessary processes, technology, and accountability to respond when auditors visit. The survey aims to expand beyond the usual last-minute preparations for an audit, delving into how organizations manage controls, evidence, accountability, and corrective actions as part of their everyday governance, risk, and compliance (GRC) processes.

It also examines the potential of technology to make audit readiness an ongoing effort rather than a one-time event. Specifically, the survey focuses on whether GRC platforms and artificial intelligence can enhance visibility, decrease manual administration, bolster evidence management, and assist organizations in identifying and rectifying issues before they manifest as audit findings.

JJ Milner, Managing Director of Global Micro, emphasizes that being audit-ready should not imply scrambling to gather evidence upon receiving an audit notice. "Organizations should be able to demonstrate at any given moment that their controls are functioning, evidence is up-to-date, responsibilities are clear, and corrective actions are being pursued," he states.

However, for numerous organizations, attaining this level of visibility can be challenging due to scattered information across spreadsheets, emails, shared drives, and various business systems. The survey's findings will offer a snapshot of the current state of South African organizations and highlight opportunities for enhancement.

By completing the questionnaire and supplying their business contact information, participants have a chance to win a R3,000 Takealot gift voucher. The comprehensive survey results, shedding light on how South African companies approach audit readiness and GRC, will be published on ITWeb alongside the name of the lucky prize winner.