New SOX Survey: COVID-19 Environment Further Drives Need for Greater Automation and Technology Adoption for Compliance Processes

Only 46% of audit teams are utilizing advanced technologies to optimize compliance processes – a decrease from last year, according to the 2020 Sarbanes-Oxley survey by Protiviti. The longstanding challenges associated with compliance with the Sarbanes-Oxley Act are being exacerbated by the COVID-19 pandemic. The survey revealed that the number of hours devoted to the SOX compliance process continues to rise, despite regulatory requirements remaining the same.

This article outlines some of the most significant results from Protiviti’s 2020 Sarbanes-Oxley Compliance Survey, which includes a special section for conducting proper audits during the pandemic.