8 Best Audit Management Software in 2023


Audit management software streamlines the audit process and facilitates compliance through monitoring, management and reporting. In this internal audit management software comparison, we will look at the best audit software currently available. I will look at both closed source and open source audit management software, taking into account versatility, range and sophistication of features, and other factors.

For those who don't have time to read the full list, SolarWinds® Access Rights Manager is my choice for the best internal audit management software. This tool offers an impressive range of advanced features and functions as a complete access rights manager.

SolarWinds Access Rights Manager

SolarWinds Access Rights Manager (ARM) is a versatile audit management solution that allows you to manage and audit access rights across your IT infrastructure. It is able to delegate to Active Directory, automate user account management, support GDPR compliance, monitor OneDrive permissions and much more. ARM combines quality management, compliance management, document management and audit planning to provide a holistic approach to the audit process.

ARM can help you improve risk assessment processes and easily demonstrate industry-specific compliance. If users access data from multiple devices and applications, validating compliance status is essential, and ARM simplifies this process by providing you with a unified platform that seamlessly delivers accounting, authorization and authentication. You can control access to your data, files and systems from a single window, centralizing all key functionality. This tool also supports real-time reporting and the creation of audit checklists, so you can verify compliance with key regulations.

ARM stands out as my top audit software in part because it automates the analysis of audits on folders, servers and files, making the audit process much less time-consuming. Proactively identifying and fixing insecure account configurations before an audit helps you establish credibility with your auditor. ARM helps you with this by giving you visibility into Active Directory account management, access levels, activity and Azure AD provisioning. This means you have a view of who is accessing specific resources, accompanied by a complete audit trail. Role-specific templates are also available to help you secure and automate Azure AD and AD user provisioning, entitlement delegation and deprovisioning.

ARM simplifies Microsoft Exchange Server audit management, helping to ensure compliance and data security. Detailed reports allow you to track user activity and account access changes, so you can quickly identify any security issues. Thanks to intelligent alerts, you'll learn about insecure account configurations in real time. The active incident response feature allows you to safeguard sensitive company data and standardized audit-ready reports to help you speed up security audits.

One of the main reasons ARM tops this list of the best audit management software is that it helps you identify internal risks. With a centralized view of IT security policies and account permissions, you can quickly investigate privilege abuses, suspicious activity and other potential weaknesses in your system.

By combining audit management with access rights management, ARM stands out from the competition. You can save time with automated user access management processes that allow you to modify, create, activate and remove access to services and files. The self-service permissions portal is web-based, so it can be accessed from anywhere, and allows users to request access rights directly from resource owners. This saves the administrator from being inundated with permission requests.

ARM offers an easy-to-use experience along with a number of very advanced features. If you are looking for a tool to streamline, simplify and speed up your audit management processes, this software is highly recommended. A 30-day free trial is available.

Pentana Audit

Pentana Audit, formerly known as MKInsight, is one of the best internal audit management software programs. It helps you perform faster and more efficient internal audits, increase your audit strategy and reduce costs. Pentana Audit supports audit types including financial audits, regulatory audits, operational audits, IT audits, SOX compliance audits and statutory audits.

This software is especially useful if you want to align your business with the Institute of Internal Auditors (IIA) audit maturity model. Ideagen, the developer behind Pentana Audit, works with the IIA to help you become a mature, risk-aware organization with the ability to make informed decisions about future uncertainties. With Ideagen's step-by-step guidance, you can move from the initial stages of audit maturity to the optimized stage, where continuous audit and monitoring processes are established and supported by reliable data analysis. Pentana Audit brings you in line with this stage by providing a risk-based continuous monitoring solution.

Pentana Audit takes a very modern approach to its features, with an emphasis on technological flexibility. The user interface allows you to work quickly and efficiently from anywhere and at any time. You can perform audits both online and offline; the tool automatically synchronizes when you reconnect, preserving your work.

This tool has flexible APIs, which integrate your processes by connecting data from third-party applications. This flexibility allows you to provide users of other systems with key information and simplifies audit management. The live content library is another example of Pentana Audit's simplifying features. With ready-to-use frameworks, standards and regulatory content, you can automate your compliance processes for multiple industry-specific regulations.

Pentana Audit also has a risk, testing, objectives and controls library, allowing you to define and evaluate risks and controls automatically. Other features include:

· Time and expense management

· Automated generation of internal and external reports

· Audit working papers management

· Audit testing management

· Audit project management

· Data analysis and business intelligence tools

· Issue tracking and action management

· Audit planning

· Audit escalation

· Audit scheduling

Pentana Audit is a versatile audit management tool and can significantly improve and simplify your audit management processes. However, the user interface would benefit from a more intuitive design. You can request a demo here.

SolarWinds Security Event Manager

Security Event Manager (SEM) is another SolarWinds product that offers exceptional compliance management capabilities. For effective auditing, forensics and reporting, you need robust log storage and monitoring capabilities. SEM helps you meet the log management and network security monitoring requirements imposed by auditing authorities. It gives you access to real-time log analysis, along with the ability to achieve cross-source event correlation across your infrastructure. This helps you identify attacks, pinpoint threats and uncover violations of existing policies.

SEM provides real-time monitoring and robust audit trails designed to meet key IT compliance regulations. The tool collects user activity logs and proactively monitors them. It also monitors databases, applications and network elements, allowing you to identify regulatory violations quickly and easily.

Certain problems or threats will require immediate action, so automated responses are very useful. SEM allows you to automate responses to regulatory violations, which can accelerate your responsiveness and reduce the likelihood of errors. The interface allows you to troubleshoot problems interactively and respond to IT issues directly. Alternatively, you can implement correlation rules to monitor and automatically react to events.

Some professionals prefer to take action themselves. SEM gives you the flexibility to choose to respond to critical events with active response functionality or, alternatively, have notifications sent if you prefer to manually take action yourself. Automated actions include blocking an IP address, sending an alert (via email, SNMP trap or pop-up notification) and resetting a password, as well as creating, disabling or deleting a user group or account.

SEM allows you to generate industry-specific compliance reports for PCI DSS, SOX, GLBA, NERC CIP and HIPAA, as well as internal compliance standards. Built-in reporting functionality makes it easy to generate compliance reports, including graphical summaries to make demonstrating IT compliance more dynamic. SEM comes with ready-to-use customizable report templates, so you don't have to start from scratch.

SEM's user interface is dynamic and easy to use, with data visualization, interactive search and drag-and-drop utilities. Other compliance management capabilities include:

· Creation of user and system activity logs, so that events of interest can be reconstructed

· Correlation of multiple events, plus the ability to create separate activity thresholds per group or event

· Correlation between devices and events in real time

· Correlation of relationships between nominally unrelated events and activities

· Highly compressed data storage, to facilitate reduction of storage space usage and associated costs

· Compliance with monitoring and data retention requirements

· Monitored access to confidential information, creating a chain of custody for log data

This tool can also improve your security by helping you quickly detect and respond to threats. A 30-day free trial is available for download.

Galvanize AuditBond

Formerly known as ACL, Galvanize has developed an audit management solution called AuditBond, which helps you in all aspects of your audit workflow. This includes risk assessment, planning, field work, reporting, analysis and issue management. AuditBond is a flexible solution that accommodates multiple types of team transitions. If you are looking to move away from paper and spreadsheet-based audit methodologies to an agile or integrated risk-based audit, then AuditBond is a good choice.

This tool is highly scalable and has built-in best practices to support your entire audit workflow. Beyond the ability to create risk-based audit plans, you can manage and schedule audit projects to support your project management strategy. In addition, to reduce time spent on repetitive tasks, AuditBond maintains a library of past audits and templates for your workflows.

AuditBond allows you to conduct field work even when you are offline, with mobile applications that feature offline modes. This means you will have access to your audit software when you are in an area without connectivity. With built-in reminders and emails, you can send requests to process owners directly.

This tool also has intelligent issue management features, with real-time visibility into all your audits. Individualized dashboards allow you to separate audits from each other and centralize your analysis activities. You can drill down into audit results, status and remediation strategies, and consolidate issues found so you can track remediation plans. From a single dashboard, you can schedule reminders, follow-ups and notifications. When it comes to informing stakeholders of your progress, you can create reports with a single click.

AuditBond's integrated analytics and robotics features help you modernize your approach to audit management. These include:

· Built-in connectors, allowing you to connect to any data source directly

· Automated tracking of operational control operations, including SoD, payroll, P2P, AP analytics, SOX, AML, access control, fixed asset management and general ledger analytics

· Real-time tracking of KPIs and KRIs, automatically integrating them with your scorecards

· R and Python integration for prescriptive analytics and machine learning

· Full analytical audit trail

This tool offers an effective, analytics-driven approach to audit management, although it is not as easy to use as some of its competitors. You can request a demo of AuditBond here.

TeamMate Audit

TeamMate Audit management software was built on three core principles: visibility, consistency and efficiency. To improve visibility across the enterprise, TeamMate Audit offers scheduling and report delivery, eliminating the need for manual data collection and report assembly. TeamMate can create a report in minutes and deliver it to anyone in your organization for review.

For easy visibility, TeamMate offers up to 30 different dimensions, giving you multiple ways to view your organization. It also gives you access to TeamStore, a comprehensive knowledge base that promotes consistency by sharing data for risk controls and audit programs. There are more than 20,000 audit procedures and 1,000 best practice controls in the TeamStore content library for your use, and this library will continue to grow, as all work entered into the tool is added automatically.

Consistency in reporting can reduce the likelihood of human error and can increase readability. TeamMate establishes consistency by delivering fully configurable audit reports. With this tool, you can establish departmental rules to ensure that reports are generated and formatted consistently.

TeamMate also offers multiple project phase workflow options. Simply select the number of phases for your audit workflow and configure the tool to recognize when each phase has been triggered. This allows you to perform follow-up audit processes even when the audit has been completed.

With capacity planning, document request management and audit report workflow functions, TeamMate can significantly improve the efficiency of your internal audit solution. Capacity planning enables your organization to make the most of your team and resources, reducing waste and redundant efforts. Document request management reduces wait times by allowing you to send an electronic request for the information you need. Auditees can then upload the documents directly into the system in a few seconds.

TeamMate is compatible with numerous browsers and devices, is optimized for any screen size and maintains a responsive design. It uses a web-based architecture, which facilitates rapid deployment. You can request a live demo here.

Qualsys Audit Manage

Qualsys Audit Manager offers simplicity and flexibility, freeing your time to focus on other priorities. This tool can work offline, allowing you to audit even your most remote locations on any device. Once you connect back to the Internet, all your work is synchronized.

Qualsys Audit Manager records every movement and activity to create a complete audit trail. This allows you to demonstrate compliance, if necessary, and improves traceability. To save you time, Qualsys can generate reports for you. With KPI dashboards, real-time reporting and data export capabilities, you can interrogate data trends and perform risk analysis quickly.

This highly configurable tool allows you to perform audits, including internal, financial and supplier audits, among many others. In addition to being versatile, Qualsys Audit Manager is also efficient, with templates that allow you to get started quickly. It helps you make auditing a habit by allowing you to set up routine audits of systems, policies and processes.

You can choose your Qualsys Audit Manager plan, view pricing and book a discovery call by visiting this page.

Eramba

This open source internal audit management software is ideal for companies that value the flexibility of open source solutions. Eramba is comprehensive and covers risk management, incident management, compliance management, internal control testing, policy reviews and online assessments. Its features also include notifications, reporting capabilities, filters and reminders.

Eramba identifies itself as Governance, Risk and Compliance (GRC) software, but its capabilities also address audit management. It has a lot to offer, including a custom API that allows you to create connections between the application and third-party products. This open source audit management software makes audit processes faster and easier, with the ability to run batch operations and uploads. It can also edit in bulk, which significantly reduces the time spent performing internal audit management activities.

Although very affordable, this open source audit management software is not as sophisticated as its closed source competitors. Two versions of Eramba are available: Community and Enterprise. The Community version is free, but its functionality is limited. In addition, it is only updated once a year, unlike the Enterprise version, which includes regular updates. The Enterprise version also offers technical support. You can access an online demo here.

EHS Insight audit management software

EHS Insight audit management software was designed to save you time, money and stress. With sophisticated audit and inspection checklists, it can help ensure compliance with regulatory requirements across the enterprise, with a minimum of fuss. By automating the audit process, EHS Insight reduces the time spent performing audits and inspections. It allows you to quickly generate reports with action items, photos, notes and other details.

EHS Insight helps you identify areas that need your attention by providing visual representations of audit data. This allows you to make quick, informed decisions about which improvements to prioritize. The tool allows you to work offline from your mobile device and synchronize whenever a connection is available.

With advanced data analysis tools and best practice advice, EHS Insight is a robust solution for conducting audits. You can access a free trial here.

The Bottom Line: The Best of the Best Audit Management Software

SolarWinds Access Rights Manager comes out on top in this comparison of internal audit management software. This tool offers a number of sophisticated features through a simple, easy-to-use interface. Its automation capabilities are extensive, saving users significant time and resources.

ARM offers maximum visibility, security and flexibility, and can be scaled to suit companies of any size. As a tool that combines access rights management with audit management, it is versatile and cost-effective. A 30-day free trial allows you to try it before committing to the software.


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