Auditing Software: useful for businesses

Auditing Software is the charter accountants of future. Computer being a very important mode of calculation in the field of science also plays an important role in internal accounts of any business. Paperless auditing is no more a term for future. IT sector is backbone of any company and for any country. But we also know that software’s are more risk prone in case of security .But to maintain the efficiency they take such risks and make their own software’s. Any software used to keep a check on daily happenings of the company n record the transactions are called accounting software’s. But the most important part of any accounting year is final audit.It is seen or maybe noticed that human ability of auditing can have some disadvantages and are less efficient and also time consuming. In many of the companies all main and important transactions are handled by IT systems. This ensures good management, speedy decision making. To trust on such systems companies keeps a check by regularly testing internal controls within their IT technology department. Auditing Software is a revolution in the field of accountancy.Technology and software’s have played a remarkable role in practice of internal audit. It has increased efficiency and consumes less time than humans.But what is audit software?Due to audit software’s, technology has taken over humans. This has reduced the number of audit professionals in the company and increased productivity without a corresponding staff. Obviously role of such auditing software is increasing; many internal audit departments are frequent users of IT systems in their organization. They even share their information electronically. They even use telecommunication services. Such innovations have increased the efficiency of internal audit. Before auditors had to fax the information to head office now with the help of auditing software with just a click the information is sent across countries. Many auditors are using auditing software to change the role of internal audit in their organizations.Using Such Auditing software auditors are able to provide more valuable services to management1.    Standardization2.    Elimination of human process3.    making database of international information4.    Showing if any risk.Most significant boon of such accounting software’s is that it is less time consuming. An auditor spends maximum time on site at different locations. This means taking less time we can increase our productivityAfter the process of audit it is communicated to different locations. The data can be communicated in the form of Video conference. Audit work or work samples can also be sent via email and file transfer. Audit analysis can also be saved in personal computer thus it can be accessed many times.But a number of auditors feel that software has a very little effect on the efficiency of audit analysis. How ever it has helped many companies to finish their work in time and increased productivity.