Audit dread has increased from 78% in 2020 to 95% in 2021
Telos Corporation released new findings from research conducted by independent research firm Vanson Bourne that examines how financial services are faring with the ever-increasing challenge of audit overload.
The study, which surveyed 200 U.S. IT security professionals in the financial services industry, revealed that nearly all (97%) financial institutions experience challenges when working on audits. While these challenges clearly impact the overall audit process, they also have implications for the IT security team members themselves. Just over three-quarters (78%) of surveyed IT security professionals in 2020 reported that they personally dread when their organization is audited. This figure has risen to 95% in 2021.