I'm searching for internal audit software for a one-man in-house operation. Any ideas?

Dan, I'm also a "one man" in house operation. I am the first internal auditor this bank has ever had so I'm trying to create as I go. I attended a school a few months ago and a CPA showed us audit software from Audit Leverage. She was speaking on automating your audit department. I was very impressed with the software. I've looked at other software and nothing comes close to what this is capable of. I guess it depends on what you're looking for.

what exactly does the audit software do? i'm part of a two-person audit department and we've been discussing trying to get our audits all on the computer, but havent been able to work out how we'll get all our supporting documents and workpapers on the computer, other than to manually scan it all in. can you spare any details on how the softwre helps you?

Go to www.auditleverage.com and there's a demo you can use to get a feel as to what it does.

I recently reviewed software created by Crowe Chizek. I really liked it because it was geared specifically for banks.

Anon:

What specific features did you like about Crowe's software? I'm aware they developed SOX software for the banking industry and they also have automated workpapers but wondered if there were other software available Crowe.

I liked everyting about the software. It has just about every type of internal audit program you could think of. It also includes tests for certain audits and audit reports. Really it is a one stop program. You can also include your own programs within theirs and create brand new audits within their program. Also, you can scan in your workpapers so that everything is in one location. It was rather cheap also. I believe it was priced around $5000 one time fee and $200 a year. I am hoping to get approval for our bank to purchase it!

So does Crowe Chizek provide any services to your bank? What's your asset size and # of persons in the audit dept.?

Ann, are you still looking for software?

I've seen the AuditLeverage demo and it looks good, but you have to have your own workprograms. If you have that, you just have to import them in. This program only manages your audits.

Anon, does this Crowe Chizek program have a demo? Do you have a link to find out more? 5g's is tough for a small bank to swallow, but I'd like to know more about it. You never know when you may be big enough to buy it.

I just received a quote from CC. $5,500 to purchase, $1,200 for initial training, $2,800 for audit plan training, and $1,800 annual maintenance fees. The program is tied into CC's data base, and updates to the plan and forms are received automatically. The database is stored internally, but can also be accessed by CC (if allowed) to aid in external audit if you use them.

If you're talking about audit software applications to help you conduct auditing activities, versus providing you with policies and decision-support software, then the ACL Desktop or the networked version of ACL are extremely helpful. (This is not a shameless plug, because I've got nothing to gain by mentioning ACL). You can gather information about ACL here.

how many users?

We also use Crowe Chizek AWP. It's my understanding though that you have to be a client of theirs to use it--unless they changed it since we signed the contract almost 2 years ago. If the client relationship ends--they don't provide support anymore for the software.

RazzleDazzle:

Would you please PM regarding the services Crowe Chizek provides to your back and your feedback regarding their quality of services? Please indicate your bank's asset size and number of staff in the audit dept. THANKS!

Our bank has contacted Crowe for co-sourcing some audits and really wanted to hear first hand from some clients that were not listed on the client referral list.

I tried to PM you but it says you reached your PM quota?? Maybe I'm doing something wrong on my end.

RazzleDazzle:

You didn't do anything wrong...I needed to "scrub" my messages. You can now send a PM.