Fortunately, only 6 percent of companies in Australia need to comply with the mandate.

But even outside legal mandates, companies find other audit controls covering both internal partners and suppliers a struggle.

KPMG claims only six percent of companies conduct audits of reporting controls and, as a result, businesses are losing billions of dollars.

KPMG claims 90 percent of IT businesses that undertake a review of self-reporting relationships (SRR) find under-reporting by partners or customers.

This figure translates into billions of unaccounted dollars, according to a KPMG report.