I am wanting to look into internal audit software. Does anyone have an audit software program that they would recommend?

Check out CompliancePro. I believe that they are mentioned on this site - somewhere. The software is not inexpensive, but perhaps you have a budget to cover it. It's a CD based program and that good.

I have posted the very same request with no success. The replies were basically software for the compliance function. Are you specifically asking for audit software for the Internal Audit function? I'm aware there is audit software for the IT function also..... Check out - www.bancaudit.com offered by the Focus Technology Group (formerly Shatswell, MacLeod Software Group). There's no programming, or query language required to use this software. Unfortunately, the product does not interface with any of Kirchman products. I would like to know if any banks on Kirchman's system have found an audit software product that does interface with them?

Yes, my request pertains specifically to Internal Audit, not Compliance, although I did notice that the software that Grist was talking about has Internal Audit features.

Yes, I checked out the CompliancePro site and noticed the audit software available. Are there any banks using this software and would like to share the pros/cons of the software. Also how much does it cost?

Internal Audit/Review modules: $750 one time fee, $225 annual renewal and maintenance.

They are sending me a sample, but I know of no one that has actually used the software. In theory, if it's a good product, the price is not that bad.

I've used the software for both internal audit and compliance. The current version of the software is not very user friendly but major upgrades to the software are in process and should be available in early 2003. It takes a lot of time initially to set the software up. I think it took 2-3 months before we felt comfortable using it. If you have people used to using paper based workpapers, it's a totally different culture. Be aware of this.

Thanks - actually, we don't have anybody doing much of anything (start-up bank), so we are just looking to stay one click ahead or the compliance/internal control game. I'm hoping for automated work papers - simply go down the list, yes or no, and report the findings. Effort counts a lot, compliance wise.

Grist, did you get your sample? What did you think of the product (especially, Compliance Module).

I did and it's not for us. If you are in a mid to big bank setting you may want to take a look at it. It's very structured, geared toward assigning chores/tasks to subordinate auditors, tracking results, etc. In my current setting, I'm just looking to get by, so I went for the Sheshonoff "Bank Internal Control Manual" that has a ton of internal control checklists on CD, as well as the manual, with the manual outlining in detail an entire internal audit program. It's not an automated program, but it fits this environment. It's only $431 with a 30-day review period.

Thanks for the info!

If you're interested...I use compliancepro. I'm a one-girl shop - test both compliance and audit. We are a $400 million bank with 8 branches and 4 loan centers. I use the canned program for all compliance and have added all my procedures to their program for audit. The are very helpful when you need it and will be going web-based in the (hopefully) near future. Their procedures are based on who regulates you as well as your asset size so you don't have too many unnecessary procedures to weed out.

On the negative side - you have to assign and schedule every procedure, checklist, etc. before it will spit it out which is sometimes a pain if you do much modifying.

As Grist says, they are set up to dole out procedures to others, but it isn't necessary to do so. I have everything assigned to yours truly. If you have any specific Q's send me a private message or an email.

Where did you find that Sheshonoff "Bank Internal Control Manual"?