Be Compliant with these IT Audit Management Software

Internal audit your organization to achieve smoother internal controls, including maintaining operational efficiency, reliable financial reporting, and in line with the rules and regulations.

Its primary goal is to find areas of improvement and come up with suggestions to enhance efficiency, mitigating risks.

Basically, it is a kind of monitoring of various aspects of your organization, especially internal controls.

On the other hand, audit management software is a set of tools designed to include automation in the audits conducted across different areas of your organization. It streamlines the process of internal auditing, identifying vulnerabilities, and recommending remedies.

So, this article will take you through the best IT audit management software.

How an IT Audit Works?

Though there are many types of audits, a typical IT audit implements a similar approach to examine different aspects of your company. It usually has the following stages:

Planning – IT auditing starts by planning how each area of the audit should be performed. This phase involves understanding your IT environment, setting objectives, and defining the scope. Its primary purpose is to create a detailed roadmap that outlines the approach, areas of improvement, and instructions for a comprehensive audit.

Internal Controls – Reduce IT risks and enhance integrity with effective internal controls. They are a company’s rules, practices, and procedures implemented for reliable access controls, data recovery, and patch management.

Testing – Check whether your expectations are live or not during this phase. The effectiveness, functionalities, and security measures of the actual outcomes are tested against defined objectives to see how successful we’re in maintaining efficient IT systems and controls.

Reporting – A detailed summary of the results, observations, and opinions is reported to the stakeholders and management team. This reporting stage is all about communicating the IT audit scope, findings from the testing phase, conclusions based on the analysis, and recommendations to improve IT controls and security measures.

Why do you need audit management software?

An IT audit management software evaluates your company’s IT infrastructure, networks, and systems. It ensures that your IT resources are utilized as planned by your teams, profiting your stakeholders and satisfying your clients or customers.

You need audit management software to streamline the workflow from planning audits to reporting, automate managing audit-related data, ensure your networks are risk-free, and maintain a comprehensive audit history.

Today’s market offers vast audit management solutions. While a few are worth paying, some do come for free. So, choose from the below best IT audit management software to automate repetitive auditing tasks

AuditBoard

From planning to reporting, all the audit phases are efficiently implemented with AuditBoard.

Gartner says AuditBoard tops the list of the best IT audit management software. 40% of the Fortune 500 companies and hundreds of audit, risk, and compliance teams from various global companies use AuditBoard for effective IT audit management.

The possibilities are endless and seamless if you want to integrate AuditBoard with the other tools and platforms that your organization uses.

This modern connected risk platform lets you identify, assess, and mitigate risks, providing you with the most efficient risk management capabilities.

Streamline the process of identifying issues, assessing them, and issue remediation with the tool’s automatic IT audit issue management functionalities.

Top Features:

• Even those with little technical expertise can use this intuitive tool.
• Schedules relevant and timely IT audits.
• Generates customizable audit reports.
• Seamless integration with PowerBI.
• Automates findings management and reporting.
• Automatically sends requests and audit surveys to stakeholders.

isoTracker

With the help of isoTracker, companies can automate their audit management system, including risk management, simplified compliance, and audit reporting. It can automatically identify compliance and audit issues and reliably resolve them.

You can easily run internal audits to assess your company’s internal controls and come up with recommendations to strengthen them. Its flexible pricing options cover a broad range of customers, offering affordable rates for small to mid-sized businesses.

isoTracker has built-in corrective and preventive(CAPA) features to ensure that no audit issue is left unresolved.

With all these amazing features, you get a free trial for the first 60 days.

Top Features:

• Built-in templates are available for creating audits. Also, saves previous audit templates from conducting new audits.
• Generates automated audit reports and feedback.
• Its CAPA features automatically detects audit issues, finds root causes, and resolve them.
• Offers flexible pricing options.
• A perfect tool for compliance management.

ManageEngine ADAudit Plus

ADAudit Plus serves your business as more than just an audit management software. It’s an advanced auditing and compliance solution from ManageEngine that can track and manage all the changes made to your Active Directory environment.

With the tool’s customizable compliance documents, get to know what tasks users performed, permissions requested, log-in and log-out activities, and risky operations.

Its comprehensive user management auditing shows who did what, how they did it, and where they did it in your network. Moreover, you can track added and removed users, ensuring robust authentication.

Top Features:

• Streamline IT auditing with just a few clicks.
• Provides 250+ built-in reports for real-time IT compliance auditing.
• Detects threats with UBA.
• It is easier to find logs with this Audit Plus.
• The tool is licensed on a per-server basis and available in standard and professional editions.
• Its free edition can monitor 25 workstations.

Hyperproof

Hyperproof is an elaborate audit management software that can plan and execute all your compliance work, standardize and automate workflows, create a scalable evidence management system, assess your risk, and make real-time dashboards and custom reports.

The tool manages various compliance frameworks, including SOC 2, ISO, SOX, and CCPA. Adding new frameworks or monitoring guidelines is much easier and faster with the tool’s 70+ templates.

One of its best features is its compatibility with various platforms across project management, security, and business applications. Doing so allows your existing services to expand their capabilities and work more optimally.

You have seamless Slack, zoom, and Teams integrations available for compliance managers and stakeholders to talk. Also, the tool works well with Jira and Asana for the effective implementation of project management principles.

Top Features:

• Seamless integration with too many other tools and platforms like GitHub, AWS, Dropbox, Splunk, etc.,
• Streamlines collaboration and automates common workflows.
• Sharable evidence across an organization meaning a stakeholder can choose to apply practices from another business unit of the same organization.
• With Hyperproof, understand the real risks and spot areas of improvement.
• You can easily create real-time dashboards and sharable custom reports.
• Mitigate critical risks by continuously monitoring the internal controls of your organization.

Netwrix

Ease the burden of IT auditing with one of the most popular audit and compliance tools, Netwrix Auditor. The tool’s intense investigations and automated alerts detect and immediately respond to threats, mitigating risks.

It can even detect subtle indicators of threats like unusual logins and suspicious admin activity before they become critical and affect your organization.

Gathering and preparing necessary information for audits is now 85% faster with the tool’s predefined reports.

You no longer have to flip through records and logs in search of answers to auditors’ questions. Its Google-like search feature shows the exact results for your queries.

Top Features:

• Netwrix Data Classification feature regularly monitors your sensitive data and who has access to it.
• Accurately detects threat patterns and detects suspicious activity.
• Get audit details from all your on-premises and cloud-based networks.
• Streamline regular user access reviews.

LogicGate

Modern businesses are constantly transforming with internal audit management evolving practices. It is challenging to manually comply with these changes. However, you have the LogicGate to help you with internal audit management.

The tool performs control audits to identify weak points and assigns enhancement activities to the right team so that you can be more efficient and scale faster. Moreover, LogicGate prepares you well for external audits by tracking and remediating internal issues and managing findings ahead of external audits.

LogicGate offers a cloud-based platform called Risk Cloud to audit, assess risk, manage GRC, and secure storage. 

Top Features:

• Automates due date reminders to ensure tasks are finished on time.
• Centralizes audit management and risk assessment across the organization.
• Unlock the full power of audit management by integrating the tool with hundreds of other platforms.
• Auto-generates controls audit and internal audits reports.
• Offers flexible pricing model for your GRC program.

Workiva

Companies can break down silos, increase trust, and remain agile using the internal auditing of Workiva. It simplifies internal audit management to automate repetitive audit tasks and helps you stay ahead of risk.

With Workiva audit analytics, you can plan, implement, test, report, and manage all your audit work in a single platform whenever you want.

Users love this tool for its effective internal controls, financial reporting, and ESG reporting. Also, 3000+ ready-made AuditNet templates can be directly used inside Workiva for more productive audit and risk teams.

Top Features:

• Built-in audit analytics platform for efficient risk management and auditing.
• Generates understandable internal audit reports.
• Easy and quick collaboration with key stakeholders.
• Centralized repository for documenting evidence and reports of control testing.
• Detailed workflow and reporting solutions for efficient ECG strategies.

Pathlock

Pathlock is your go-to tool for automating your audits and reducing risks. Built by combining application security and control automation, the tool provides robust risk reduction features.

With Pathlock, you can now rely on less manual effort and more automation as the tool automates your audit and compliance processes. Also, the Pathlock ensures that access controls are effective and secure in your critical business applications, removing conflicts and frauds within the access controls.

Top Features:

• Fully documented automated workflow approach for easy auditing.
• It has solutions for all kinds of critical business systems.
• Offers comprehensive risk analysis.
• Spots ineffective processes and helps you fix them.
• Secures sensitive financial and customer data.

Conclusion

Auditing your business networks and critical applications is necessary to reduce your IT risks, ensure compliance, and boost security. So, we’ve listed some of the best IT audit management software that lets you automate auditing tasks and optimize your IT infrastructure.

Through this article, you will know the top features of the best tools and their specializations before picking one.

You may also explore some best IT asset management software if you are planning to manage your software subscriptions, bonds, digital documents, tools, etc.,