Why your audit budget actually needs to go up when you automate compliance processes.

Automation provides two possibilities – 

  1. Get things right at scale.
  2. Get things wrong at scale.

When things go wrong, they’re going to go wrong at scale.

This means that audit needs to happen more often.

This is how an ATM software bug ended with the Commonwealth Bank being fined $784 Million by AUSTRAC.

Things went wrong at scale for CBA. 

The only organisation that noticed was the regulator.

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