20 Best Auditing Software for 2024

Business fraud is more rampant than we think, and they’re not confined to big names like Enron and Volkswagen. Most of these fraud-related incidents involve small businesses. And this is why SMBs are increasingly fortifying their internal controls, which include audit and compliance software.

In this article, we took the time to test and review 20 of the best auditing and compliance software in the market today, so you don’t have to. Right off the bat, you can choose which ones apply to your requirements.

Never allow your brand and business reputation to suffer when you already have access to all the right tools. You only need to adopt and implement these solutions, such as audit and compliance management software.

External threats are easier to address. To protect your business data and company website, you need to deploy a security software your business needs. Conversely, internal threats are far more challenging to contend with. This is because, along with many internal factors, even long-term employees are susceptible to committing fraud.

In view of this, more than half of organizations worldwide report that they turn to business controls to better fight fraud. And among these internal controls, they use routine internal audits the most.

A collaboration between man and technology

Experts argue that the best approach to fight fraud is through a man-and-machine combination. First is the human aspect, which involves the need to create a workplace culture that fosters honesty, transparency, and healthy competition. Second is the technological element, which includes deploying the correct audit software and security tools.

Whether you are auditing for safety or compliance management, taking stock of your internal audit controls, and making plans to upgrade them will help toughen your security. It will likewise ensure savings from paying penalties from non-compliance.

Furthermore, you must look for features that complement the type of business your company does. Remember, there’s no one-size-fits-all when it comes to audit and compliance. And with that said, browse through this top software selection, and you’ll likely find the solution that your business needs.

How do automation and AI enhance audit processes?

Automation and AI are transforming auditing by streamlining repetitive tasks, improving accuracy, and providing deeper insights into compliance and risk management. These technologies enable auditors to focus on high-value activities, while software handles routine tasks, leading to more efficient and comprehensive audits.

• Automating repetitive tasks: Automation simplifies time-consuming tasks like data entry, document comparison, and checklist management. By automating these processes, audit software can reduce human error and free up auditors to focus on more strategic analysis.
• AI-driven data analysis: Artificial Intelligence (AI) can analyze large volumes of data at high speed, detecting patterns, anomalies, and potential risks that might not be evident through manual inspection. This helps in identifying areas that require more in-depth review or immediate action.
• Predictive analytics for risk management: AI algorithms can predict potential compliance issues by analyzing historical data and identifying trends. This predictive capability enables companies to proactively address risks before they escalate, enhancing overall compliance and operational efficiency.
• Enhanced decision-making with insights: Automation and AI provide auditors with actionable insights through advanced reporting and visualization tools. These insights help auditors and management make informed decisions about resource allocation, compliance strategies, and internal controls.
• Real-time monitoring and alerts: Automation facilitates continuous monitoring of compliance activities, triggering alerts for irregularities, policy violations, or significant changes in data. This real-time capability allows businesses to address issues promptly, reducing the risk of non-compliance and fraud.
• Natural language processing for document review: AI-powered natural language processing can review contracts, policies, and other documents to ensure they meet regulatory standards. This automated review process speeds up the audit cycle while improving consistency and accuracy.
• Continuous improvement through machine learning: Machine learning algorithms improve over time by learning from past audit data and outcomes. This iterative learning process enhances the precision of risk detection and the efficiency of audit procedures.

20 Best Auditing Software for Small Business

1. ProntoForms

ProntoForms is a market-leading low-code app and form builder for transforming paper-based forms to digital ones. This enterprise-grade solution makes it easy even for non-technical users to create their own apps and forms.

Its powerful, drag-and-drop form builder has bulk editing features that make form creation and updating an efficient process. You can easily customize your form with advanced controls and conditional logic rules. Single-process solutions can be deployed in as little as a week. Using smartphones and tablets, users can collect and share data from the field in real-time. With reports and analytics, you have data-driven insights on how to improve operational performance.

This cloud-based software primarily helps technicians collect data on the field faster and more accurately. In addition, ProntoForms can also be used to simplify workflows for regulatory compliance, health and safety inspections, and site audits.

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Key ProntoForms Features

• Low-code form builder
• Input and output controls
• Dispatch pre-filled forms
• Offline access
• Version control

2. Form.com

Form.com is a comprehensive auditing platform that offers businesses the scalability and flexibility to collect mission-critical data and the corresponding business forms to facilitate data collection. It also provides robust automation and customization capabilities to streamline and improve a wide range of workflows and tasks.

This multi-awarded audit software is a feature-packed solution that businesses of any size will need. For instance, it allows seamless field-to-office collaboration among teams as well as provides an integrated inspection solution. Likewise, its dynamic forms boost audit efficiency and speed while sustaining a single version of the truth.

What’s more, this integrated solution has ready-made audit and inspection modules for businesses in various sectors. Further, it offers functionalities to simplify data collection, management, and reporting. And once you deploy Form.com, it can readily match your existing infrastructure.

Key Form.com Features

• Integrated audit platform
• Process audit and checklists
• Offline forms with mobile capability
• Highly flexible, can be used in any industry
• Real-time audit data analysis

3. Cygna Auditor

Cygna Auditor (formerly Knowledge Vault) is considered a top choice for auditing software due to its robust auditing and inspection capabilities, as well as its advanced reporting and analytics and smart business management features. This cloud-based auditing solution offers a wide array of tools and functionalities, including auditing and analysis, as well as compliance with industry and legal regulations.

This solution provides sophisticated and cost-effective inspection, discovery, reporting, and management functionalities. These features enable IT managers and cloud administrators to secure and optimize cloud-based productivity suites.

Finally, it optimizes license management and service usage to help companies achieve significant cost savings. In addition, it can streamline policy administration, reporting, and analytics.

Key Cygna Auditor Features

• Control and manage Exchange 365 migration projects
• Optimize usage of services and license management
• Tighten security with proactive insights into permission and other security-related changes and activities

4. Netwrix Auditor

Netwrix Auditor is another auditing platform given a high rating by our experts and users alike. It is designed primarily to be used by IT auditors and program managers. Also, this user-friendly and easy-to-configure auditing software helps businesses conduct audits to ensure compliance with internal protocols and policies. As a result, this helps ensure robust business data protection and solid access control.

What’s more, it works as an IT security software by enabling users to easily detect security threats and risks to business data and IT systems. It also provides effortless access to compliance documents to readily determine the level of system adherence to internal and external security policies and regulations.

Deployed either as an on-premise or cloud-based IT system, this auditing solutions can readily track data access and create reports on any modifications done by users or staff in an IT network.

Key Netwrix Auditor Features

• Tracking of user behaviors and activities
• Alerts on active directory changes in real-time
• Lockdown overexposed data

5. iAuditor

iAuditor is a popular auditing software platform for the construction industry that is programmed to help project teams better conduct and manage safety audits and quality inspections. The platform basically digitizes safety audits and site inspections to establish more flexible approaches to conducting safety and operational audits.

It is also useful for generating checklists and reports directly from any device, especially from mobile devices while in project sites. Packed with numerous audit and business tools, iAuditor enables auditors and inspectors to perform their tasks easily and more conveniently using their mobile device, minus the stress and demands typical of on-site inspections. What’s more, it can be used with or without an internet connection.

Key iAuditor Features

• Access to its public library with over 57,000 templates
• Access inspection forms 24/7, from any location
• Annotate or draw on images

6. Intelex

Used by over 1.6 million users across the world, Intelex is one of the trusted audit and EHSQ management solutions in the market today. This robust and flexible online platform helps businesses set in place an integrated data storage, access, and management system in a single location.

Meanwhile, Intelex offers a wide array of robust features for audit management, root cause analysis, compliance management, risk assessment, analytics, and reporting, etc. This highly customizable solution can be used in any browser and any device, thus, enabling easy access and smooth collaboration with team members from multiple locations.

Key Intelex Features

• Assets and Compliance Tracking System
• Best audit and safety practices and configuration
• Sustainability Performance Indicators

7. Asset Panda

Asset Panda is an easy-to-use, comprehensive audit, and asset management solution for businesses of all sizes. Affordable and customizable, this cloud-based business suite helps facility managers conduct their core duties such as asset monitoring and safety and compliance. It likewise offers a robust maintenance management tool for maintenance-related tasks.

This audit tool is also optimized for use in any device to enable seamless collaboration among work teams in the office and even from the field, in real-time. Moreover, it can be used by an unlimited number of users to support unmitigated task and project completion.

Key Asset Panda Features

• Offers an integrated asset tracking system
• A highly configurable platform with unlimited users
• With robust security based on roles and corresponding access levels

8. MasterControl Audit

MasterControl Audit is a digital audit management platform for life science firms and similar organizations. This platform is part of a suite of comprehensive quality and compliance management tools. In essence, this solution is designed to help these organizations efficiently and consistently conduct audit processes.

Featuring a drag-and-drop calendar, it also helps regulatory agencies achieve considerable resource and time savings through intuitive planning and scheduling of organizational assets. It also provides automated audit report generation and approval.

Key MasterControl Audit Features

• Increased visibility over total quality management systems
• Controlled response collection
• Powerful reporting functionalities

9. Gensuite

Gensuite is a cloud-based auditing and compliance solution that helps businesses manage their audit, compliance, and operational processes more efficiently, particularly in the area of EHS compliance. With its intuitive audit and inspection tools, this platform enables businesses to effectively carry out risk and audit management tasks to attain compliance.

And with more than half a million users worldwide, Gensuite provides smart, integrated applications that can be quickly configured and deployed, targeting sustained innovation, quality service, and ROI.

Key Gensuite Features

• Create a digital management system to ensure compliance with ISO, VPP, etc.
• Easy integration with third-party EHS systems
• Training compliance management

10. Raken

Designed for construction firms, Raken uses innovative mobile technology to simplify the auditing, monitoring, and reporting tasks in construction works. Its “digital toolbox” virtually unifies offices with workers deployed in field locations by enabling seamless field reporting capabilities, covering project insights, time cards, daily reports, etc.

In effect, Raken provides easy and fast auditing management for construction businesses by enabling them to streamline cumbersome auditing and report-generation tasks and give stakeholders more time to focus on project completion and other more critical activities.

Key Raken Features

• Integrated access to data, monitoring of projects, and creation of insights
• Consolidation of insights and data in a single, smart dashboard
• Easily attach files and media to reports

11. Onspring Audit Software

Onspring Audit Software is a cloud-based internal audit management software that helps businesses make strategic plans, perform more efficiently, and empower their internal audit teams for better outcomes. This platform is designed to foster better control, transparency, and team performance of company-wide audit activities.

This audit solution allows businesses to align crucial business objectives and risks with audit programs. Moreover, it can quickly produce audit documentation in various formats as well as introduce accountability for better issue resolution.

Key Onspring Audit Features

• Numerous tools to boost internal audit efficiency
• Issue management module
• Supports dynamic reporting delivery

12. Jolt

Designed for restaurants and similar businesses, Jolt is a comprehensive auditing and compliance enterprise suite that seamlessly integrates workflows, forms, checklists, and other core business processes. Its automated record-keeping features enable quick reporting in real-time.

Likewise, Jolt’s compliance tools allow efficient and consistent auditing, employee forms, and checklist balancing, among others. In addition, this solution offers a host of operational functionalities, such as employee scheduling, communications, time and attendance, information library, etc. 

Key Jolt Features

• Quick access to shared business data
• Streamlined compliance management
• More efficient and secure team communication

13. MoreApp Forms

MoreApp Forms is an audit and forms builder software designed to help businesses achieve time and resource savings. Its capability to easily digitize all business forms allows businesses to complete mission-critical tasks faster, especially audits, inspections, evaluations, reports, etc.

Deployable on-premise and online, this solution also enables users to conduct audits and inspections both internally and on the field. Data are securely sent and shared over SSL, which provides peace of mind to business owners and managers, letting them focus more on things that matter more in their jobs.

Key MoreApp Forms Features

• 99.99% average monthly uptime
• Integrate with favorite apps using its API or Hooks
• Supports branding requirements

14. ZenGRC

ZenGRC is a cost-efficient, low-maintenance, and easy to implement audit and compliance solution for business. Deployable on-premise and online, this agile platform allows users to easily integrate it into their day-to-day audit and compliance work.

And with a user-friendly and easily navigable dashboard, it helps businesses achieve higher productivity and better efficiency. At the same time, it empowers management to become more proactive in addressing external market shifts.

Key ZenGRC Features

• Unified control management
• Single source of truth
• Fast view of controls and gap analysis

15. AuditBoard

AuditBoard is an audit solution specifically made to simplify all the auditing and compliance needs of businesses. It offers a completely integrated solution for SOX accounting compliance, business audits, ERM, and a lot more.

By using this advanced application, businesses can cooperate, manage, assess, and communicate important enterprise controls information in real-time.

Key AuditBoard Features

• Automated SOX compliance system
• Robust automated task management features
• 360-degree visibility of audit and compliance processes

16. Field iD

Field iD is an audit and EHS compliance management platform that provides an extensive array of advanced business tools. These are designed to help businesses improve efficiency, decrease liability, remain compliant, and empower staff.

This smart audit software also enables users to finish audits quicker, more precisely, and prevents any double-entries, which ensures data and report accuracy. Likewise, users can automate schedules and notifications for on-time job completion and accident reduction.

Key Field iD Features

• RFID and barcodes
• Email notifications for overdue or future tasks
• Lockout / Tagout Solution for Android and iOS

17. Fastpath Audit Trail

Fastpath Audit Trail is an auditing software for delivering comprehensive analysis to enable businesses to more effectively monitor changes to transaction data and to deliver reader-friendly reports. With its proprietary Fastpath Assure® tool, this auditing platform provides integrated templates and reports for auditing high-risk business areas.

What’s more, this software is designed to ensure that businesses receive the correct data to generate valuable insights.

Key Fastpath Audit Trail Features

• Wide range of audit trail templates
• Fast implementation for quick ROI
• Multiple format report export

18. Qualtrax

Qualtrax is an auditing and compliance software designed to help businesses save time and resources while improving operational efficiency, precision, and outcomes. For more than 25 years, Qualtrax has been helping businesses in streamlining auditing and compliance tasks and processes to achieve simplified audit and accreditation management.

At the core of this platform is its capability to automate virtually every business process, thus, enabling better compliance and business results.

Key Qualtrax Features

• Integrations with third-party apps
• Employee efficiency tracking
• Simplified accreditation management

19. Audits.io

Audits.io is an easy-to-use, customizable audit software that is designed to help businesses automate all auditing tasks. From the filing of audits up to reporting, this app removes paperwork and manual data inputs, which translates to as much as 50% time savings.

What’s more, this user-friendly auditing tool allows even novice admin users to manage all auditing tasks and even automatically generates data from each Q&A entry.

Key Audits.io Features

• Convenient pay per use arrangement
• Drag-and-drop audit vault
• Audit outcomes in visual statistics

20. Isolocity

Isolocity is a cloud-based auditing and quality management platform that helps businesses streamline their audit and quality compliance activities. Intended to completely automate the audit process, this software enables businesses to cut ISO and GMP certification audit time by as much as 50% and daily compliance management time by around 25%.

Moreover, Isolocity can help businesses achieve time and resource savings so they can get more things done faster and more efficiently.

Key Isolocity Features

• Corrective action reports
• Part inspection and SPC data
• Calibration and maintenance

Are You Ready to Choose Your Audit Software?

After reading our reviews of today’s leading auditing software, you’ll likely already have a working knowledge of which platform to choose for your business. A word of caution, though: don’t just go for auditing software because it’s popular or the price is attractive.

With that said, it’s good practice to first conduct a thorough review of your particular software and operational needs. Afterward, make an inventory of mandatory features and a shortlist of add-on tools so you can make a logical selection. Our list here points you in the right direction from which you can explore your options, starting with top solutions like Prontforms.

For optimum security and compliance results, it is suggested that you complement your internal controls with corresponding external security software solutions. Only choose solutions from tested cybersecurity vendors for peace of mind.

Key Insights

• Prevalence of Business Fraud: Business fraud is common, especially among small businesses, highlighting the need for robust internal controls. Routine internal audits are the most commonly used corporate control to combat economic crimes.
• Importance of Audit and Compliance Software: Implementing audit and compliance software is crucial for enhancing internal controls and ensuring regulatory compliance. These tools help in detecting security threats, managing licenses, and ensuring adherence to internal and external policies.
• Combining Human and Technological Efforts: The best approach to combating fraud combines human elements, such as fostering a culture of honesty, with technological tools like audit software. This combination ensures comprehensive protection against both internal and external threats.
• Top Audit Software Features: Essential features include real-time data collection, robust reporting and analytics, customizable forms, and integration capabilities with existing systems. Mobile accessibility and offline capabilities are also critical for conducting audits in various locations.
• Customizability and Industry-Specific Solutions: The best audit software solutions offer flexibility and customization to meet the specific needs of different industries. Pre-built templates and compliance modules tailored for various sectors streamline the auditing process.

FAQ

1. What is business fraud, and why is it a concern for small businesses? Business fraud refers to dishonest activities conducted by individuals or companies to secure an unfair or unlawful gain. It is a significant concern for small businesses because they often lack the resources to implement strong internal controls, making them more vulnerable to fraud.
2. Why is audit and compliance software important for small businesses? Audit and compliance software is important because it helps small businesses enhance their internal controls, ensure regulatory compliance, and protect against fraud. These tools provide real-time data collection, robust reporting, and analytics, making the auditing process more efficient and effective.
3. What are the key features to look for in audit and compliance software? Key features to look for include customizable forms, real-time data collection, robust reporting and analytics, integration capabilities with existing systems, mobile accessibility, offline capabilities, and industry-specific compliance modules.
4. How does combining human efforts with technology help in combating fraud? Combining human efforts with technology helps in creating a comprehensive fraud prevention strategy. Human elements, such as fostering a culture of honesty and transparency, work alongside technological tools like audit software to detect and prevent fraud effectively. This combination ensures thorough protection against both internal and external threats.
5. Can audit and compliance software be customized for different industries? Yes, many audit and compliance software solutions offer customization options to meet the specific needs of different industries. They often come with pre-built templates and compliance modules tailored for various sectors, streamlining the auditing process and ensuring industry-specific regulatory adherence.
6. What is the role of real-time data collection in audit software? Real-time data collection allows auditors to gather and analyze information as it happens, providing immediate insights and enabling prompt action. This feature is crucial for identifying and addressing potential issues quickly, ensuring continuous compliance and reducing the risk of fraud.
7. How do mobile accessibility and offline capabilities benefit audit processes? Mobile accessibility and offline capabilities enable auditors to conduct audits from various locations, even without an internet connection. This flexibility is particularly beneficial for field audits, ensuring that data collection and compliance checks can be performed anywhere, anytime.
8. What should businesses consider when choosing audit and compliance software? Businesses should consider their specific auditing and compliance needs, the software’s features, customization options, integration capabilities, user-friendliness, and the vendor’s reputation. Conducting a thorough review of these factors will help in selecting the most suitable solution for their requirements.
9. How does audit software improve internal controls and regulatory compliance? Audit software improves internal controls by providing tools for systematic data collection, monitoring, and analysis. It ensures regulatory compliance by automating reporting, tracking changes, and generating alerts for potential violations. This enhances overall operational efficiency and reduces the risk of non-compliance penalties.
10. What are the benefits of using audit software for small businesses? The benefits of using audit software for small businesses include enhanced fraud detection and prevention, improved regulatory compliance, streamlined auditing processes, real-time data insights, and significant time and resource savings. These advantages lead to better overall business performance and security.

By Astrid Eira

Astrid Eira is a resident B2B expert of FinancesOnline, focusing on the SaaS niche. She specializes in accounting and human resource management software, writing honest and straightforward reviews of some of the most popular systems around. Being a small business owner herself, Astrid uses her expertise to help educate business owners and entrepreneurs on how new technology can help them run their operations. She's an avid fan of the outdoors, where you'll find her when she's not crunching numbers or testing out new software.