In a recent survey of 200 internal auditors, over 90 percent reported significant gaps in their organization's internal control framework.

According to the survey, conducted by risk and compliance consulting firm Jefferson Wells International and the Institute of Internal Auditors, the greatest number of the respondents (34 percent) cited lack of process control-related documentation.

Another 23 cited "formal review and approvals," which Jefferson Wells' National Practice Director of Internal Controls Daniel Langer described as "evidence documenting that a review was performed independent of the preparer, for example as related to the preparation of an account reconciliation."

The complete survey is available, below.

92 Percent Of Internal Auditors Identified Internal Control Gaps

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