Audits are a necessary part of any business, especially ones that operate under tight regulations and standards. Whether conducted in-house or by external auditors, audits take up considerable amounts of time and require a lot of paperwork. This was the case until auditing software. Let us take a look at some of the benefits of using audit management software.
Reduce the duplication of effort
Every auditor has experienced the frustration of carrying out an audit on site, filling out paperwork, then having to return to the office to type in their notes. It is an unnecessary duplication of effort that adds no value to the audit process. Using audit management software means having information ready at the click of a button. Preparing for an audit is much quicker and customisable reports make it easy to display data visually.
Improve the accuracy of data captured during an audit
Paper audits are not only time-consuming but also prone to human error. Audit management software helps capture evidence in real time and you can attach any type of common file, including videos, photos and sound recordings. This process also eliminates the need to make lengthy notes to describe an issue, once more saving considerable amounts of time.
Gather more information
The time limits imposed on an auditor means information can be missed or incomplete, especially if a problem occurs to delay access to vital details. Audit management software removes the need to do audits on paper which means that auditors have more time to analyse the organisation in detail and deliver a much broader and comprehensive review of operations.
Eliminate ambiguity in audit reports
What one person says is a major non-conformance, another may describe it as minor. This makes it difficult to prove when the only evidence that exists is a few pages of the auditors’ hand-written notes. Audit management software takes away the confusion and ambiguity by making sure evidence is gathered and attached to an audit on site, then and there.
Demonstrate compliance throughout the audit trail
Working from paper trails makes compliance difficult to prove. One missing file and there is a risk of failing the audit completely. Audit management software allows auditors to easily plan and schedule regular internal audits, with automated workflows triggered when a finding is raised. This makes it easy for auditors to deliver a full and comprehensive audit trail.
Thanks for taking the time to read our blog post on the benefits of using audit management software. If you are thinking about studying in Germany, PFH offers a Master’s Degree in General Management in which you can take the cross-cutting topic of corporate management with different variants, including accounting. While if you are interested in being even more international, we also offer dual degree programmes, where you study part of your time in London, Bordeaux or even Australia and receive two degrees.
At PFH we make sure you receive a high-quality education while making the most out of your study abroad experience!