Audit Software

Audit Software are systems that enable organisations to carry out operational and compliance audits. This may involve detecting security threats, analysing user behaviour, accessing inspection reports, checking documents against industry and government protocols, managing alerts, generating action reports, and scheduling audits. Accessible from a consolidated platform, such software typically complement a company’s IT security infrastructure, as well as in-house operational and compliance tools. Audit management software can be used by companies in every business sector, as well as auditing service providers. Depending on the type of program, such platforms may test accounting records, evaluate internal control measures, carry out analytical tests, generate exception reports, or track software use. They may also be used to check licencing and industry standards compliance, monitor quality assurance (QA), and meet legal requirements. Operational audit software can help streamline auditing tasks by automatically checking the quality, progress, and compliance of software, workflows, and internal processes against company goals, industry standards, and government regulations. As such tools help highlight data anomalies, errors, and exceptions, and also inform auditors of any errors or flaws within their activities, documents, or internal processes, they can help do away with the need for complex programming skills on the part of the auditor. Typical features of compliance audit software are audit management and audit planning tools, compliance management, and workflow management tools, and risk assessment solutions made available on a single dashboard for all stakeholders to access and engage with. Audit Software could be thought of as a combination of Risk Management Software, Compliance Software, and Inspection Software.