Benefits of Internal Audit Software

Internal Audit software is a must today for every company. With the Companies Act 2013 coming down heavily on internal controls and internal audit, it is very important that companies can maximise value from the limited internal audit resources.

Web Based Internal Audit Software

First and foremost is to get a tool that is web based. There is not point in having a corporate level desktop tool that cannot be accessed by anyone except on the machine on which it is installed. With audits taking place across cities and geographies, a web based internal audit software should be first on your list.

Internal Audit software on the cloud

Next very big question that keeps coming up is whether the solution should be on the cloud or really...Can I safely invest in a solution that is on the cloud.

The answer to this really is whether you have the resources to host and support the system and the cost benefit analysis. If you had adequate resources, you might consider in house, else a cloud based internal audit software is equally. Just ensure that the servers used have adequate IT controls and are SSAE / SOC compliant.

Getting auditee to use internal audit software

Another big change management to deal with is to get non auditors to use the audit software. The fact that internal audit team proposed and bought the tool means that they will definitely use it. But how about auditee. This is a difficult one and should start in a phased manner. Initially, send them automated emails about their audit observations, get feedback and updates via email. Next setup automated reminders so that they are getting more communications from the audit software. Over time, they will start to log into the system.

Where do I get the internal audit software

Finding a good tool is not difficult. Finding one at your price and the vendor willing to make all the customization that you want is a difficult thing. Contact us at manoj.jain@riskpro.in to learn more about our offering in the internal audit software.

Other Services of Interest

  • Assurance Services

    In Riskpro we believe that Internal audit function has to align its activities with business activities of any organisation to achieve its objectives. IA can be of significant value if it maintains...
  • Risk Based Internal Audit Services

    Why Internal Audit Matters In order to run your business, you develop processes to manage the factors that drive performance and help control internal and external risks that could prevent you from...
  • GDPR Training: India gets ready for GDPR

    Riskpro welcomes you to GDPR Training Background GDPR and privacy issues, along with infrastructure management and emerging technologies, rank as the top technology challenges organisations face...
  • Digital Forensic Services

    Riskpro has partnered with a specialist Digital Forensics Services firm to offer digital forensic services. This involves analysis of digital assets for specified objectives. Whether it is a...
  • COSO ERM 2017 - Know the risks that matter

    In risk management, the end goal is to manage the risks that matter, and not to manage all the risks that can exist. For this, a welcome update to COSO ERM 2017 is the shift from process based risk...
  • Automating Legal Compliance Management

    Never miss a compliance. Register by sending an email to info@riskpro.in
  • Cybersecurity Checklist - NIST Framework

    Riskpro has developed a cybersecurity checklist based framework to perform a self assessment of cyber risk preparedness. Please email info@riskpro.in to obtain more information on this.
  • Legal and Compliance Audits

    Regulations and legal / compliance burden is affecting organisations of all sizes and across industry sectors. The challenge to timely identify updates to regulatory changes and the time consuming...
  • Part time and Staff Augmentation

    With the Companies Act, 2013 placing a lot of importance on Audit, Risk...
  • Go to top