PracticeAuditE&Y: companies to invest in internal controls

E&Y: companies to invest in internal controls

Big Four firm's survey shows that businesses see benefits in spending on internal controls

Three-quarters of the world’s largest organisations are preparing to invest
in internal controls, a survey by
Ernst
& Young
has found.

In a poll of 140 companies in 17 countries, mainly
SEC registrants, E&Y
found that many CFOs and heads of i
nternal audit still
believed that some internal controls were ineffective.

The biggest ‘blind spots’ were controls over expansion into international
markets, post-acquisition integration, and real estate and construction
projects.

‘There is now widespread recognition that effective internal control directly
impacts business performance in a number of areas,’ enthused Adrian Godfrey, of
Ernst & Young’s risk advisory services.

Further reading:

FDs tackle reporting processes

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