Whoever
performs a company's internal audit is responsible for auditing
compliance program implementation and evaluating program
effectiveness. An internal audit is also an in-depth review of the
finances and procedures of a company. Audit software is generally a
great replacement to using multiple Microsoft Excel spreadsheets to
track the audit, and Microsoft Word to write the audit report.
Internal audit software could help your company to report directly
to the audit committee of the board of directors rather than having
to prepare reports and distribute them manually. Auditors are
required to communicate all significant deficiencies in internal
control to management and using software will make this task much
easier. Auditors will enter and submit their audit reports online
and in the required standard format, including the required certified
documents.
Audits
may be conducted much more efficiently using an auditing software
product. Internal audits can then focus on extending continuous
auditing techniques to those areas that are not monitored by
management. Internal audits are pro actively shifting the focus of
audit plans in response to organizations’ changing risk profiles.
Internal auditors are responsible for coordinating audit planning and
scheduling activities with external auditors. Auditors will test the
internal controls during the second internal audit fieldwork phase.
Audit management software can be used for internal, industry
standards and requirements from various government regulations.
Internal audit can also play a significant part in helping comply
with new EPA regulations. Internal audit is a resource to aid in
identifying and resolving problems.
Auditing
can be a resource intensive operation if you choose to audit a large
number of objects, but with auditing software you can cut out a lot
of wasted time and expense by automating a large amount of the
process.
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