Internal Audit Management System
What is Audit Software?
Audit software automates the process of preparing and executing audits by helping organizations analyze data, assess risks, track issues, report results and manage paperwork.
Audits are an internal or external review of a company’s financial information, business operations or ability to comply with regulations or guidelines.
Companies use audits for an internal assessment or as an assurance to outside stakeholders about the company’s business functions.
Public accounting firms usually conduct audits for companies since professional accountants have expertise and knowledge in various financial and operational business practices. Performing these operations usually follows a standard process, although it can change to meet the needs of a client.
Collect a sample of financial or business information. Auditors do not test every document a company produces; they simply take a representative sample from each business process. The sample must be large enough to provide auditors with an accurate picture of the company yet small enough to complete in a short period of time.
The entire internal audit management process
- Audit management software supporting transparent workflow for planning, approvals, verification, and control
- Ownership identification and corrective action management
- Effective communication of findings and observations within the audit software system
- Automatic notification of planned activities and reminders of due dates and deadlines
- Standard protocol identification in accordance with ISO 9000 and 14000 standards and support of internal requirements identification.
- Your internal audit management process will be highly compatible with the standard audit management software workflow in improsys, covering everything from planning and execution to follow-up and analysis improsys.
- Enables systematic and workflow driven audit processes across the enterprise with standardized data collection to eliminate audit errors and inconsistencies
- Facilitates a closed-loop audit cycle for recording findings, developing recommendations, and implementing action plans
- Provides complete visibility into audit processes and metrics for better risk management and assured compliance
- Strengthens the efficiency of the audit staff, enabling them to be focused on value-oriented functions such as analyzing and recognizing trends in the audit data.