Best Audit Management Software

Best Audit management software are AuditBoard, MeazureUp, Qualityze Suite, and TeamMate+ Audit. Such audit management systems automate and streamline the entire audit process with regulations or internal policies.

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List of 20 Best Audit Management Software

Showing 1 - 20 of 139 products

Contenders | 2024

Product Description

This information is provided by vendor.

ADAudit Plus from ManageEngine is one of the best internal audit software for IT auditing. It has exciting features like Real-time Change Notification, Windows Logon Monitoring, Account Lockout Analysis, Audit-ready Reports, File Change Monitoring, Audit File Accesses, etc. Using User Behavior Analysis (UBA), it detects threats, streamlines audit, and manages compliance. Learn more about ManageEngine ADAudit Plus

Monitor every aspect of your active directory

Product Description

This information is provided by vendor.

ManageEngine AD360 is an integrated identity and access management (IAM) solution that supports organizations  in managing and securing user identities, facilitating identity governance, and ensuring compliance. Learn more about ManageEngine AD360

Category Champions | 2024

Leading cloud-based business management solution

Product Description

This information is provided by vendor.

Oracle Fusion Cloud ERP is a well-known audit management software. It has features like Audit Trail, Audit Management, Financial Accounting, Audit Planning, etc. to help businesses of all sizes. Moreover, it is a comprehensive business management solution including features to manage other aspects of business such as Marketing, Project Management, Materials Management, etc. Learn more about Oracle Fusion Cloud ERP

Most Reviewed

Software by Wolters Kluwer

Product Description

An online audit management solution, TeamMate Audit offers businesses of all sizes a host of services in audit and assurance. Features like Internal Controls Management, Audit Planning, Operational Risk Management, CAPA, etc., improve audit productivity and accuracy. Its 25 years of expertise and high-level analytics are major USPs for this software. Learn more about TeamMate Audit

Software by AuditBoard

Product Description

AuditBoard is an audit management software that combines ESG, audit, compliance, and risk management for a comprehensive strategic advantage for companies. Its attractive and easy-to-use interface is one reason for its popularity. It also includes features like Risk Oversight, Audit Trail, ISO Compliance, Environmental Compliance, Business Process Control, Legal Risk Management, etc. Learn more about AuditBoard

Software by MetricStream

Product Description

MetricStream Policy and Document Management is one of the best audit software for reducing third-party risks. It automates the audit lifecycle and has filtering options for smoother records management. Some more of its exciting features are Collaboration Tools, File Recovery, Offline Access, Compliance Tracking, etc., all of which are available from a single platform. Learn more about MetricStream

Software by Compliance Experts

Product Description

Compliance Checkpoint is a top audit software that streamlines the compliance process for businesses. Using systematic and controlled digital techniques, this program helps companies keep up with complex requirements, new risks, and changing standards. Features like Compliance Monitoring, Automated Workflows, Increased Data Visibility, Audit Trail, etc., allow businesses to improve compliance efficiency while reducing costs. Learn more about Compliance Checkpoint

Software by AuditDesktop

Product Description

The best internal audit software for small and medium-sized businesses, AuditDesktop is completely free software with helpful features. Features like Risk Identification and Assessment, Controls Evaluation, Risk-control Matrix, Graphic Analysis, etc., provide essential tools for automating the audit process. This software supports audit of compliance, financial statements, Internal Controls, and other types of audits. Learn more about AuditDesktop

Software by Riskonnect

Product Description

Riskonnect is a risk and compliance management platform that helps to manage the audit process from end to end. Its audit management tools include Audit Planning, Disaster Recovery, Risk Analytics Benchmarks, OSHA Compliance, Corrective Actions (CAPA), Auditing, etc. It offers integrated solutions for Healthcare, ESG, GRC, and Insurable risks via a powerful and user-friendly interface. Learn more about Riskonnect

Emergents | 2024

Operationalize Your Risk Management Through Agile

Product Description

This information is provided by vendor.

LogicGate is an audit management software that makes it easy to automate businesses’ risk and compliance processes. Its no-code platform combines with functionalities like Archiving & Retention, Environmental Compliance, ISO Compliance, Audit Trail, Risk Alerts, etc. It has pre-configured templates and a drag-and-drop workflow builder that make the automation of auditing processes convenient. Learn more about LogicGate

Software by Netwrix Corporation

Product Description

This information is provided by vendor.

Netwrix Auditor is a visibility platform for easy implementation of risk-appropriate security controls. It has integrations with Office 365, Sharepoint, and Windows File Servers. It also has functions like Applications Management, Real-time Monitoring, Event Logs, etc. Its focus on improving productivity makes it one of the best audit management software for IT auditing. Learn more about Netwrix

Software by Qualtrax

Product Description

Qualtrax is an audit management solution that serves industries like manufacturing, aerospace, clinical labs, energy & utility, and others. It helps businesses focus on productivity by automating the compliance process and other value additions. Features like Document Management, Customized Workflow, Process Management, Testing & Training, etc., allow businesses to manage audits seamlessly. Learn more about Qualtrax

One of the best audit software

Product Description

An audit management software with a particular focus on Document Management, MasterControl improves to-market times of businesses significantly. Its Quality Management System and Manufacturing Execution System drive business excellence. It also helps firms simplify and pass audits easily through features like Corrective Action (CAPA), ISO Compliance, Audit Checklists, Internal Audit Management, Document Indexing, Workflow Management, etc. Learn more about MasterControl

Software by Reciprocity

Product Description

This information is provided by vendor.

ZenGRC is a program for software audit management and risk management from RiskOptics (formerly known as Reciprocity). It helps small and large businesses manage their compliance and cyber risk faster and smoother by focusing on customizing the audit management experience. Its features include HIPAA Compliance, Audit Trail, Compliance Reporting, Sensitive Data Identification, etc. Learn more about ZenGRC

Contenders | 2024

Product Description

Workiva is one of the rare audit management tools that combine multiple capabilities. It brings together financial reporting, risk, ESG, and audit in a single platform. It supports collaboration, automation of financial reporting, and dynamic regulation management. This software has excellent features like Internal Audit Management, ESG Reporting, Statutory Reporting, SOX Compliance, etc. Learn more about Workiva

Software by Galvanize

Product Description

Highbond is one of the best audit software that boasts industry leaders like Coca-Cola, Washington Trust Bank, and Uniting Care as clients. Features like Audit Planning, Controls Testing, Archiving & Retention, Incident Management, Compliance Tracking, etc., enable businesses to manage audit, risk, and compliance efficiently. Its unified platform reduces audit costs, time, and errors. Learn more about Highbond

Software by RSA Security LLC

Product Description

RSA Archer is a top audit software designed for enterprises. It is a flexible and integrated platform. It has exciting features like Vendor Management, Policy Management, IT Risk Management, Disaster Recovery, etc. It also provides companies various risk management services, which include ESG Management, 3rd Party Governance, Business Resiliency, etc. Learn more about RSA Archer

Software by Onspring

Product Description

Onspring is an audit management software that simplifies reporting and data management. With an easy-to-use interface and streamlined workflows, it makes the process of auditing and compliance easier for businesses. It also offers supplier management through features like Buy Side (Suppliers), Completion Tracking, Government Contracts, Sell Side (Customers), Specialty Contracts, etc. Learn more about Onspring

Software by Fastpath

Product Description

Fastpath Assure is an audit tracking software designed by auditors to simplify and accelerate the business compliance process. It automates critical processes, improving efficiency and reducing both errors and efforts. It has features like Pervasive Retention, Streamlined Access Control Performance, Data Extraction, 360-degree Overview, Audit Readiness, etc. This program also helps businesses with Access Certifications. Learn more about Fastpath Assure

Software by Hyperproof

Product Description

Hyperproof is a user-friendly and intuitive audit management software that can manage multiple compliance frameworks such as ISO, NIST CSF, SOC 2, etc. Features like Quickstart Templates, Illustrative Controls, Compliance Work Forecasting, Duplication Minimization, etc., make it valuable for businesses. Its excellent functionalities and ease of use have earned clients like Motorola, 3M, and Blackberry. Learn more about Hyperproof

 audit management software guide

Audit Management Software: A Buyer's Guide

Audits are an essential part of any business organization. They can be conducted in-house by a team of employees or outsourced to auditing agencies. Audits take up considerable time and effort. Organizations must ensure that all processes are streamlined and paperwork is in order. This is why most organizations rely on audit software to simplify the entire procedure.

Audit management software is a highly popular tool in the current business scenario. It leads to the complete automation of most audit-related tasks and ensures smooth documentation. Internal audit software can keep financial figures in check and facilitates compliance with government regulations. It is a useful solution that can exponentially slash the time taken to conduct audits.

Audit software is designed to develop a comprehensive framework that manages large volumes of data and auditing processes. It is flexible enough to support any external, internal, supplier, IT, or quality organizational audit. A smart business platform and audit software can enhance systematic workflow and risk management and reduce man-made errors.

Why Need an Audit Management Software?

Organizations all across the globe have realized the immense potential of auditing management software. There has been a manifold increase in the adoption rates of auditing systems in organizations of various industries/ sectors. Audit software is a great tool that can help managers with seamless data flow, documentation management, and safety regulation compliance. Here are some compelling advantages of automated audit management systems:

need an audit management software

  1. Improved Performance

    Most audit tools are tailor-made to give users a holistic view of organizational processes and work. This allows managers to identify poor performances. They can locate under-utilized departments, low-performing teams, and even individual workers. Audit software facilitates managers to destroy any wasteful practices and eliminate time-consuming activities. It leads to improved performance, thus leading to higher business revenues.

  2. Saves Time

    Traditional auditing processes are lengthy and cumbersome. They involve a lot of manual calculations. Hence organizations usually had to spend energy and time managing tons of paperwork. There was also always a chance of high errors or inaccuracies. However, audit management software automates and mechanizes all such processes. Complex calculations can be completed in a fraction of the time just by clicking a button.

  3. Ease-of-Use

    One very good aspect of audit software is that they have a very simple learning curve. Often managers are skeptical about investing in audit management software as they feel it would be highly complicated for employees. Most modern software, though, is extremely user-friendly and presents data in a navigable readable form. This improves visibility and allows managers to make more strategic decisions that help achieve organizational goals in the long run.

  4. Eliminates Ambiguities in Reports

    Reports and paperwork are important to audit management. When all documents are hand-written, there are high chances of errors. Audit software gathers and attaches evidence to audits on-site, thereby eliminating any confusion and ambiguity. Reports are unaffected by bias as all processes follow stringent rules and procedures. It makes reports highly accurate and organized for better clarity.

What are the Key Features of Audit Management Software?

Audit software has a range of impressive and innovative features. They implement the latest technology to monitor and calibrate all functions across departments. Here are some essential features that are popular in most audit management systems:

features of audit management software

  1. Scheduling

    Audits have to be completed promptly. Otherwise, organizations may find themselves defaulting on government regulation. Hence, one of the most important features of audit software is scheduling. It should have the capability to design one-off and recurring audits. Managers should also be able to set alerts and reminders so that audits are never missed.

  2. Document Management

    Internal audit software helps handle vast amounts of documents in a structured manner. Audit management software should allow users to attach required documents in soft form as evidence for audit procedures. All critical data is stored in a central unified repository from which authorized personnel can easily access it.

  3. Corrective and Preventive Action(CAPA)

    Audit management platforms must ensure that organizations address their weak areas and proactively act against them. Corrective and preventive action features make it simple for managers to initiate corrective measures. This results in proper issue resolution and complete compliance in all fields.

  4. Flexible Reporting and Analytics

    Audit tools are perfect business assets, facilitating proper audit closure and helping managers prepare detailed reports. They allow staff members to closely analyze all key metrics and display them in a visually friendly and graphic manner. This boosts improvement initiatives in low-performing areas and increases the efficacy of strategic business decisions.

  5. Audit Preparation Tools

    Audit tools notify auditors well in advance about upcoming audits. It provides important information access to auditors, such as past audits, revealed financials, and historical reports. It can automatically develop a checklist with pre-established criteria. This will help auditors perform their job with enhanced quality and at a quicker pace.

    There are tons of radical new features in modern audit management software. Organizations need to assess their business requirement and check their budget before opting for the best one. Most software vendors provide customized options tailored to specific organizational requirements. Hence managers can choose particular features or modules that benefit their business model.

What are the Key Considerations While Choosing Audit Management Software?

Regular audits are necessary to improve organizational performance and boost functional efficiency. Audit software is an automated system that can centralize, modify and implement risk and compliant processes. However, managers are often skeptical about adopting audit tools because they do not know enough about them.

key considerations while choosing audit management software

Organizations stay hooked on traditional auditing procedures because they do not know how to find the best audit software. Knowing what your organization needs is important before investing in a long-term audit system. Here are some important considerations to keep in mind while choosing the best audit management software in the market:

  1. Affordability

    Organizations must know their budget before venturing into the market to purchase audit software. Audit management platforms come in a wide price range, from free and open-source audit management software to costly solutions. Reliable and trustworthy service vendors generally customize audit software to sit within an organization’s financial resources to fit within the required range.

  2. Cloud-Access

    Cloud-based audit software is the current buzzword in the business arena. Organizations must decide whether they want an on-premise or cloud-based solution. Most companies opt for cloud-based audit management software as it provides high mobility as the system can be accessed at any geographical location.

  3. Customization

    Organizations need to choose a service provider that can personalize audit software. There is no one-size fits in auditing tools. Every organization has different requirements that must be catered to with care and precision. Hence, getting a customized audit management solution that will serve organizational needs is essential when deciding on an audit management platform.

  4. User-friendly Interface

    Audit tools must be intuitive and easy to understand so that even non-technical staff members can use them. Investing in user-friendly audit software is vital so that there is no difficulty in transitioning to the new technology.

    Organizations must scan the market, check all considerations, and make a final choice. Perfect audit management software can build up bottom-line results and help your organization achieve high profitability.

FAQs

Audit management software automates and simplifies the auditing procedure. It organizes, schedules, and streamlines audit procedures from planning, executing, and evaluating outcomes with associated reports and data.

Chirantan Mungara
By Chirantan Mungara | Last Updated: May 17, 2024