Audit software helps to organize audit information so businesses can make coordinated decisions with a generalized idea of the company’s financial statistics. Auditing software is also usually designed to speed auditing processes within an organization. Audit software includes; department to department audit Software, automation, fraud detection, audit exporting, data mining, and network security.
Centralized audit software helps to auditors create standards regarding audits, according to the master control, an audit management software system. Email notifications can be set up so that appropriate personnel and management can be alerted to problems discovered through the audits. Different companies have different needs and each company can have different email notification setups. Audit software is designed to automate many aspects of the auditing process so that time and company resources can be saved. Many types of auditing software allow auditors to focus on specific areas in the business so that the business can prioritize, according to software auditing. Auditor software often attempts to find abnormal data to determine if there is any fraud occurring within the according to audit software. Data extraction and analysis software takes data found in certain forms, such as statistics taken from the operation of software, and analyzes and summarizes this data. This process is called data mining. Some auditing programs are designed to assess network security also.
There are five steps include the software audit; initially determine which applications to be audited, then run a report on current usage with a usage tool, then check that report have created and determine the non-usage software, after this determine which users have not used the applications for more than 60 days, then determine by the usage report if the correct versions of the applications are being used. Finally install and run a report from a tool and establish the updated compliance figures. So a software audit is important because it is a cost-saving method for you to remove software you no longer use, and it can help you identify which programs you will need to reclaim in the future.