The 10 Best Internal Audit Software of 2022

Choose from the top 10 internal audit software and find the right one for your organization based on features and free version availability

iAuditor
Audit app
Get everyone on the same paperless page.
Rated 4.6/5 stars on Capterra from 76 ratings
Available on iOS, Android and Web
Download iAuditor for FREE

Published 27 May 2022

What is Internal Audit Software?

An internal audit software is a digital tool used by in-house auditors and compliance officers in performing walkthrough inspections and data analysis. It helps to identify weak points, inefficiencies, and non-compliance in business operations to implement appropriate corrective actions.

5 Attributes of Internal Audit Excellence

Internal audits are done to assess a company’s internal controls, governance, and risk management system to ensure its effectiveness. An excellent internal auditing process needs to possess the following attributes in order to deliver results:

Business Alignment

Internal audit processes should have a clear understanding of the company’s strategic direction so it can clearly define the value it wants to deliver to an organization. This can be achieved by staying updated on the business’ goals, objectives, and decisions.

Risk Awareness

One of the major internal audit functions is to ensure regulatory and legal compliance. Excellent internal auditing invests time in performing dynamic risk assessments to pinpoint critical risk factors that can negatively affect business operations. Risk assessment methods should also be flexible and adapt to business changes to stay effective.

Resource Awareness

Internal audits should have a clear understanding of interdepartmental relations, and a good grasp of employee capability. This is achieved through one-on-one feedback sessions, surveys, and interviews. In doing so, managers and supervisors can work to provide additional training and support where necessary. Internal audits with effective communication protocols can help with business alignment efforts and overall risk awareness.

Adaptability

Considering the numerous aspects of a business operation, having only one internal auditing process is impractical and ineffective. An excellent internal audit software can be easily customized to adapt to a variety of needs; streamlining your entire internal audit process for maximum efficiency.

Internal Audit Software Advanced Technology

Excellent internal audits should be efficient, and utilizing the right technology can optimize internal audit processes for maximum returns. Good internal audit software can automate what would normally be manual processes such as data storage and organization, as well as internal and external reporting to help companies stay cost-effective.

A good internal audit process is an invaluable asset since it helps businesses achieve and maintain optimal performance for maximum results and zero non-compliance. With iAuditor as your mobile audit software, you can take advantage of a versatile, easy-to-use platform to streamline your internal audits and get more done with less effort and time. Try iAuditor for free today.

SafetyCulture Content Specialist

Zarina Gonzalez

Zarina is a content writer and researcher for SafetyCulture. She enjoys discovering new ways for businesses to improve their safety, quality, and operations. She is working towards helping companies become more efficient and better equipped to thrive through change.

Zarina is a content writer and researcher for SafetyCulture. She enjoys discovering new ways for businesses to improve their safety, quality, and operations. She is working towards helping companies become more efficient and better equipped to thrive through change.