Report by Swimlane
GRC Chaos: The High Price of Audits and Non-Compliance
Key Findings
Organisations cited financial penalties (39%), security breaches (36%), and reputational damage (36%) as the top risks of poor compliance management
62% say their audit evidence-gathering process is at least occasionally error-prone.
Over half of organisations (54%) spend more than five hours each week on manual compliance tasks.
90% of organisations are concerned that poor collaboration between GRC and security teams is undermining audit preparation.
96% of organisations say it’s challenging to keep up with the growing number of industry regulations.
Only 29% of all organisations say their compliance programmes consistently meet internal and external standards.
On average, just 39% of the audit evidence process is automated.
92% of respondents rely on three or more tools to gather audit evidence.