ITM537 Mod 1 SLP Assignmet: Control Structures: Auditing

ITM537 MOD1 SLP CONTROL STRUCTURES: AUDITING
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Small Business Internal Audit by Sobesoft
The Small Business Internal Audit by Sobesoft is a free trial auditing program, but one has to pay after the trial period ends. This software helps auditors to conduct the audit process through a step by step process and is suitable for conducting internal audits in small businesses. The program also suggests growth targets based on the financial accounting results, and hence the software allows small businesses to focus on improving profitability, while conducting internal audits. The software is suitable for various businesses since it is applicable to the different categories. It is noteworthy that with tracking business performance it is possible to improve overall business, as business owners and the management have the opportunity to manage their business. The small businesses also need to optimize their business, and the case for using the program is that it assists in auditing, planning and controlling operations. The management makes decisions based on audited results.
Ideally, the audit software should analyze results to ensure that the auditor’s report and monitor progress of the auditing process. This software can be used when one understanding basic IT and accounting, as one simply has to follow the steps. The ease of use and customer service also influences decisions to use this software. Additionally, compliance with both audit and risk management highlight the suitability of the audit program. Bayuk (2009) highlights that defining the scope of the audit when planning is necessary, but should be based on the audit objective. The software allows this to ensure that the automated process captures information necessary for the audit.
Audit Master:
Audit Master by Harrington Group allows users to perform both internal and external audits, through auditing to improve efficiency in the process. The program has a user-friendly interface allowing users to navigate easily and besides analytics other features useful for conducting auditing include internal control and compliance management. Improving information security capabilities is necessary to make informed decisions on risk awareness (ISACA, 2012, p. 15). The audit software achieves the intended purpose by automating audits to allow for the preparation of audit reports, and risk management. Nonetheless, the auditors need to be more vigilant when using the software as they monitor inter controls to ensure one adheres to the standards. Nonetheless, one of the challenges when using the software is that it does not display the database conversion progress.
AuditNet
The audit program documents include questionnaires, audit checklists, internal control matrices and the audit procedures. Auditors rely on the built in version, but can also customize the information based on previously audited areas. When conducting audits, the work papers from previous audits are updated. One of the challenges of using the software is that it is used on iOS devices. Auditors mainly conduct IS audits using computers, highlighting that it might be difficult to undertake full audits of the information system. The program integrates internal controls, risk and compliance management options, where the auditors assess the risk level to determine the materiality of different financial aspects.
Even though the software claims to be free, this is the basic account for the thirty-days trial and subscribing to a premium account allows users to access more premium content that is...