How Audit Tools Can Make The Auditing Process So Much Easier

Audit tools are software programs which can be used to carry out the financial and process audits which companies need to make sure they are running as efficiently as possible. Auditing has a long history, but only in the most recent part of it has it been possible to automate so many of the tasks. Manual auditing did not seem laborious to people at the time, because they had nothing to compare it with. It did, though, necessarily limit the numbers of calculations which could be carried out.

The original audits were carried out by governments and royalty to show people under them that their tax contributions were being spent in their own interests. An independent review will always retain more credibility than one produced by the organization itself, and so it is with corporate auditing. Most modern audits are carried out by third parties who are paid for by the company or government entity being audited, and the purpose of them is to improve public relations. Often, the companies are looking for more investment.

Another form of audit which is becoming increasingly common is the internal audit, where companies are trying to improve their own performance from within. This audit is nearly always carried out by the company's own employees, whether they are trained accountants or not. Using software tools can be especially important here, because they allow people who are not trained accountants to get a far better idea of how a trained accountant would carry out a certain task. They also reduce the chances of inaccurate figures skewing a result.

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There are other types of audit which can be crucially important to the improvement of a company's performance, and these are known as process audits. A process audit allows you to examine the effectiveness of one of the processes within a company, that is, one of the systems which is designed to produce a specific result or objective. Each process can be audited in turn to see if changes would produce a better result for the same investment of time and resources. The tools needed for process auditing can be more varied, and can even need to be custom ordered from software developers.

These specialist audit tools will not be cheap as they will need to be developed specifically for the process of your company. Make sure you don't spend money on any software you cannot adapt as your processes adapt. Expensive software needs to last for many years to make the investment worthwhile. It is even possible, if yours is a large enough company and you intend to do enough auditing, to hire your own full time in house software developers. You will then be able to give specific ongoing instruction as you develop your audit tools.

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