The EY Global Forensic Data Analytics Survey, which examined responses from 745 executives across 19 countries found that while 78 per cent considered data protection and data privacy compliance to be a growing concern, only 33 per cent of respondents had a plan in place for GDPR.
The GDPR comes into force on 25 May 2018, with less than four months to go.
Europe on average is the most prepared, with 60 per cent of respondents indicating they have a compliance plan in place.
Other markets are far less prepared with significantly fewer companies indicating readiness for GDPR compliance, including Africa and the Middle East at 27 per cent, the Americas at 13 per cent, and Asia-Pacific at 12 per cent. Australia fared better than the APAC and Americas average at 18 per cent.
Fraud Investigations and Disputes managing partner Rob Locke said few of the companies surveyed were confident that they currently have the requisite skill sets needed for better risk detection and mitigation.