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December 2005 New Articles/Tools on Audit Software.Net

Bullet-Proof Your Financial Operations: A Key Controls Best Practice Event - Audio webinar on February 7th at 2 p.m. EST which in just 90 minutes you’ll learn how to: (1) Identify key controls within a business process, (2) Identify top controls to speed your financial closing process, (3) Know what CPA firms will be looking for when they review your internal controls, (4) Arrive at a best practice reference set through the most up-to-the-minute information on internal controls and anti-fraud programs, and (5) Develop automated routines to manage and test the key controls.

November 2005 New Articles/Tools on Audit Software.Net

Building Anti-Fraud Programs and Controls That Run on Auto-Pilot - Audio webinar on December 2nd at 2 p.m. EST which will discuss strategies to develop automated routines to detect and prevent fraud based on those key red flags .

Those looking to automate their internal control activities may want to see the article on CPA2Biz helping explain the key components for consideration in such products. Those with simply too much to do in their audit work and needing to automate can see the article that explains the various technology available to them helping them save time. Please note CPA2Biz supports an entire store focused on discounted audit software technology.

October 2005 New Articles/Tools on Audit Software.Net

Cost-Effective Data Analysis Training Program Launched - To date, data analysis software and associated training has been an expensive proposition for many companies, leading to a limited adoption. This program lowers the barrier on price while ensuring a high quality software solution.

Better, Faster, and Cheaper Audit Software - Audit software is getting much cheaper and remarkably, at the same time, better and faster. You can download a sample demo of one great example, ActiveData for Office, or just read the article on this new advancement in audit software. ActiveData for Excel is another data analysis package that works within Microsoft Excel to provide various audit data analysis capabilities.

New Release: Continuous Auditing: Implications for Assurance, Monitoring, and Risk Assessment — the third in The IIA's Global Technology Audit Guide series - The guide focuses on helping Chief Audit Executives make effective use of technology in support of continuous auditing and provides guidance on significantly reducing instances of error and fraud, increasing operational efficiency, and improving bottom-line results through cost savings and a reduction in overpayments and revenue leakage

Excel 12 set to release in 2006 will analyze over one-million rows of data - See recent posting on this and other new features for this data analysis product. Also see the powerful add-in product to Excel, ActiveData for Excel.

Even PC Magazine has a definition for audit software - See the link for their definition.

September 2005 New Articles/Tools on Audit Software.Net

Vendor Database Cleanup Webinar (with discounts) - AP Now & Tomorrow is hosting a webinar on September 27, 2005 regarding best practices to minimize duplicate and dormant vendor masterfile entries. Click here to signup for the event or see the brochure. Please note the discount code as seen in the brochure when ordering.

CPA2Biz opened their Audit and Control Technology Store which offers discounts on popular audit software packages in the areas of audit management, data analysis, and risk management. See the press release for more information or simply shop the store.

Structuring Financial Information With XBRL - Article presents the problems surrounding unstructured financial data, how it will grow in the coming years, and how XBRL tools can help solve the issue.

Spreadsheet vs. Software - Article presenting the pros and cons of using Excel as a risk management software.

August 2005 New Articles/Tools on Audit Software.Net

Buyer's Guide to Audit Software Training - 8 hour NASBA Certified CPE course and $180 book for $150 - The Philadelphia, PA Chapter of the Institute of Internal Auditors will be hosting a full-day seminar on Monday, September 12, 2005 around the newly released 2005 Buyer's Guide to Audit, Anti-Fraud, and Assurance Software. Rich Lanza, co-author of the publication, will guide participants through the purchasing and implementation best practices for audit, anti-fraud, and assurance software. For more information or to sign up, please see the event brochure.

Create Powerful Dashboard Reports - Dashboards are helping companies to better assimilate masses of company data and this book explains how to do them easily in Microsoft Excel. The first few chapters of this 150-page book explain how to set up the building blocks: small charts, Camera Tool objects, colors, workbook structure, and so on. The middle chapters explain how to link your report to a spreadsheet database, how to update your report easily, and how to trap errors in your report. The ending chapters explain how to create a dashboard from scratch, and they provide many charting and design examples.

Survey Request on CAATT Research - We are pleased to support a research initiated a by PhD researcher from Birmingham University titled “Adoption of Computer Assisted Audit Tools and Techniques (CAATTs) for Internal Audit Efficiency “. Please see the survey and note that the primary objective of this research is to provide insight into the motivations for, and limitations to, the adoption of CAATTS for internal audit functions.

Accounts Payable Now & Tomorrow is a print newsletter for professionals interested in payment issues. Its Editorial Director and Publisher is Mary Schaeffer, a nationally recognized expert on payment matters and the author of a dozen business books. Auditsoftware.net has made a special arrangement for our readers to receive a sample copy of this newsletter. Click here or send an email to publisher@ap-now.com with the words ‘Rich sent me’ in the subject line. Include your name, title, company name, e-mail address and mailing address to get your copy. Your subscription includes a weekly e-zine, e-News from the AP Front. We’ve also made arrangements for our readers to start receiving the e-zine at no charge immediately. If you wish to receive it, send an e-mail to marys@ap-now.com with the word e-zine in the subject line. You’ll receive an e-mail signup form by return e-mail. To view a recent article on Travel & Entertainment Fraud, click here.

The 10th WCAS (World Continuous Audit Symposium) - will be held at Rutgers Business School in Newark, NJ on November 4th and 5th. Visit http://raw.rutgers.edu/10th/index.htm for the Symposium agenda, registration, directions and hotel information.

The need for Excel auditing for S-Ox compliance - This short article point to many others focused on the need for better auditing of Excel spreadsheets.

June/July 2005 New Articles/Tools on Audit Software.Net

The 2005 Buyer's Guide for Audit, Anti-Fraud, and Assurance Software is now available for a limited time at $30 off the regular retail price. This guide provides an extensive analysis of all audit, Sarbanes-Oxley, enterprise risk management, anti-fraud, and other assurance software. Best practices, industry trends, a full marketplace categorization, and 100 vendor analysis pages are provided. Click here to learn more.

Identify Duplicate Items....FAST!!! - A new product can identify duplicate transactions with NO training. Watch the video (requires Macromedia Flash) to see how easy it is and request a demo copy of the product to try it yourself.

May 2005 New Articles/Tools on Audit Software.Net

An Approach To Auditing Spreadsheets - HealthSouth admitted to using a simple spreadsheet in committing their fraud, NASA found a $650 million dollar spreadsheet error, and there are countless other examples. In this article, simple case-study examples and an automated tool are shown to explain auditing one of the most overlooked financial documents that has one of the highest risk of errors and fraud....the spreadsheet. Also, download the free 30-day demo of the automated Excel audit tool to see for yourself how easy it is to find spreadsheet errors and fraud.

Software Expo With 24 Audit Software Presentations Now Available - The North Jersey Chapter of the IIA held an audit software expo with 200 participants and 24 vendors. All of the materials are online in a special new website developed for the event.

Free AuditSoftware Webinar - The Buyer's Guide To Audit Software - 6/6/05 at 1 p.m. EST - A one-hour web based presentation and conference call will be provided on Monday, June 6, 2005 at 1 p.m. EST (US time). The presentation will discuss the key research findings from an analysis of over 100 vendors in the audit, anti-fraud, and assurance software market. The webinar will be hosted by Rich Lanza, founder of AuditSoftware.Net and coauthor of the Buyer's Guide research. To register for the webinar, please simply Email us at: rich@auditsoftware.net. Please note that this webinar is limited to the first 15 responding people so please reserve early.

April 2005 New Articles/Tools on Audit Software.Net

Find Out Why A Data Field Acts a Certain Way - WizWhy is a powerful data mining product that is simple to use. It helps you to understand why a particular data field acts a certain way such as "Why does an invoice amount exceed $200,000?" by providing otherfactors in the data file to help explain the variance. They offer a free demo copy of the software to AuditSoftware.Net visitors. See the short video benefits of WizWhy (uses Macromedia Flash) to see this powerful product in action.

AuditSoftware.Net Has Opened a Web Store for reselling software, publications, and training, associated with audit software. All profit goes to supporting the AuditSoftware.Net website. See more at the store page.

Free AuditSoftware Webinar - The Buyer's Guide To Audit Software - 5/2/05 at 1 p.m. EST - A one-hour web based presentation and conference call will be provided on Monday, May 2, 2005 at 1 p.m. EST (US time). The presentation will discuss the key research findings from an analysis of over 100 vendors in the audit, anti-fraud, and assurance software market. The webinar will be hosted by Rich Lanza, founder of AuditSoftware.Net and coauthor of the Buyer's Guide research. To register for the webinar, please simply Email us at: rich@auditsoftware.net. Please note that this webinar is limited to the first 15 responding people so please reserve early.

March 2005 New Articles/Tools on Audit Software.Net

Learn What You Don't Know About Your Data - WizRule is a powerful data mining product that is simple to use. They offer a free demo copy of the software to AuditSoftware.Net visitors. See the video on the benefits of WizRule (uses Macromedia Flash) or read a recent article on AuditNet for practical applications of WizRule in an audit setting.

Second Annual Audit and Assurance Software Expo - You can now register for the second-annual April 19, 2005 expo on audit and assurance software (Free for IIA members and $50 for everyone else with 5 CPE credits provided to attendees). The first audit and assurance software expo happened on March 11, 2004 with 23 software vendors and over 200 participants. You can see last year's website we created with all of the content for free.

Buyer's Guide to Audit Software Survey - AuditSoftware.Net is working with publisher Ekaros Analytical and with other sponsoring organizations to develop a 2005 Buyer's Guide to Audit Software for release in early May 2005. We are currently surveying more than 100 vendors and are now looking for user feedback for inclusion in the guide. To that end, please complete the survey and also note that the results will be published in next month’s AuditSoftware.Net newsletter.

Ninth World Continuous Auditing and Reporting Symposium - The two day event is sponsored and is presented jointly by Malta University Services, the Faculty of Economics Management and Accountancy at the University of Malta, Malta Environment & Planning Authority, the Information Systems Security Research Group at the University of Kent, England, and Rutgers University, New Jersey, United States. The Agenda will include two full day sessions of papers, panels and discussions from researchers from around the World in commerce and academia.

Free AuditSoftware Webinar - 3/30/05 at 1 p.m. EST - A one-hour web based presentation and conference call will be provided on Wednesday, March 30, 2005 at 1 p.m. EST (US time). The presentation will how to fight fraud with query and data mining software. The webinar will be hosted by Rich Lanza, founder of AuditSoftware.Net. To register for the webinar, please simply Email us at: rich@auditsoftware.net. Please note that this webinar is limited to the first 15 responding people so please reserve early.

Continuous Financial Controls Review Processes (S-ox.com)- Makes a compelling case for continuous auditing from one of the top researchers in the industry, Don Warren.

Looking for Gaps (CFO.com)- Provides a solid status report for Sarbanes-Oxley compliance software and highlights the need for sustainable solutions.

February 2005 New Articles/Tools on Audit Software.Net

New Data Mining Section Added to AuditSoftware.net - A new section has been added focusing on data mining products with various articles and videos to help implement these powerful tools.

WizRule Benefits Video - by Rich Lanza. Video on the benefits of WizRule with practical applications in an audit setting (uses Macromedia Flash). Also see the free demo copy of the software offered to AuditSoftware.Net visitors.

The Power of Data Cube Video - by Rich Lanza. Video on the benefits of data cube technology with practical applications in an audit setting (uses Macromedia Flash).

ACL Services Ltd. acquires the rights to BlackPearl intellectual property and software - a suite of enterprise applications that provide proactive, "before-time" decision-making support to identify and prioritize hidden revenue opportunities and business risks.

Defining Data Mining (BusinessIntelligence.com) – Article explores the differences between query reporting and data mining with practical examples. Also see the new Data Mining section for more articles on AuditSoftware.Net.

OLAP, an alternative technology over spreadsheets (BusinessIntelligence.com) – Presents a study that 90% of companies are not confident in their financial forecasts and reports due in part to spreadsheets. Article then explains very well OLAP tool functionality and how it can be used to gain improved data understanding. Also see the Excel Pro and Con section for more articles on AuditSoftware.Net.

The Silver Lining in SOX (IntelligentEnterprise) – Study of over 100 financial professionals noted that over 80% rated as important or very important the automation of manual process controls. The study also called for improved data warehouses to replace spreadsheets in order to save organizational time and labor.

Realigning the trade-offs between stringent controls, efficiency, and business risk (Oversight Technologies) – While this whitepaper requires you to complete a download form, it makes a sound case for automating controls, control testing, and ensuring the efficient operations of the organizations all the while.

Organizational Barriers to Business Intelligence (BusinessIntelligence.com) – Perceptive article that identifies the change in control over applications as the main barrier to improving data analysis at companies. Bottom line, it is a people thing….not technology that prevents solid implementations.

Mining sector avoid overstating reserves with Spreadsheet Professional (Miracle Solutions) – Presents the need to audit spreadsheets for logic errors and the tools to use when completing this task.

January 2005 New Articles/Tools on Audit Software.Net

The Rise and Fall of SpreadMarts - Provides some methods to changing people's behaviors away from spreadsheets and towards more centralized data warehousing solutions. Also see the Microsoft Excel Pros and Cons page to help understand why and why not use Microsoft Excel as an audit software. The goal of this pros and cons section is to separate the fact from fiction on this heated topic.

Risk Based Data Analysis (AuditNet) - Highlights the need for data analysis to be a part of any audit and internal auditors' competency based on existing IIA standards.

Best Practices in Spending Analysis (Ariba) - Study by the Aberdeen Group on how to maximize company savings through improved spending analysis.

Slicing Up Data (WebCPA) - Article shows that practically every financial statement preparation tool is moving towards increased analytical tools to compliment their offerings.

SOX a Good Investment (SmartPros) - New study by Oversight Technologies found that 74% of financial executives felt Sarbanes-Oxley had a positive effect on their company. Further 25% of them expected to implement a technology solution to continuously monitor controls.

December 2004 New Articles/Tools on Audit Software.Net

Trends 2005: Risk and Compliance Management (Forrester) - Short research update with some interesting statistics around making 2005 compliance efforts more efficient through automation, reducing duplication of effort, and a formalized approach towards risk management.

Back By Popular Demand - 101 ACL Applications - The first book explaining 101 audit related tests in ACL Software is back and available for purchase from AuditSoftware.Net.

CFO-IT (CFO.Com) - Article explaining the challenges CFOs are having measuring the return on investment of information technology spend.

November 2004 New Articles/Tools on Audit Software.Net

Accountants and Auditors Labor Summary (Dept. of Labor and Statistics) - While this report focuses mainly on the U.S. market accounting industry from an employment perspective, it notes numerous times that auditors and forensic accountants need to use technology more in order to be effective.

R U Compliant (Intelligent Enterprise) - Article that makes you think of other software that can help your compliance efforts or just in Control Self Assessment exercises. Essentially, the article shows the power of IM and Web collaboration software and how they can be used in the compliance process.

Continuous Will Be The Key To Compliance (Business Finance Magazine) - Article summarizes the need for and steps being taken by the market at large towards continuous controls monitoring. Benefits include compliance savings and getting to "root cause" fixes.

Users of Lotus Notes should take a a look at IntelliPrintPlus from Intelliview. While the product boasts 200,000 users, a recent Lotus Notes Advisor had rave reviews on the product in its ability to query, data mine, and produce analytical reports. Download a free trial by clicking here.

We have added Data Pattern as a vendor as their product organizes transaction events from accounting data. Please see their whitepaper on how it works.

More than Pie Charts (Intelligent Enterprise) - Article discusses the benefits of OLAP and business intelligence tools that provide views of data beyond a basic pie chart. Provides some interesting examples of practical graphing techniques.

September / October 2004 New Articles/Tools on Audit Software.Net

The 8th CAS (Continuous Audit Symposium) Agenda has been released. This year's event will be held at Rutgers Newark on November 5th and 6th.... papers, presentations, and ideas for panels are being requested. Click here for the announcement and, if interested, click here to register. Please try to register early as space is limited.

Microsoft Excel Based Products Page - AuditSoftware.Net has established a vendor page devoted to Microsoft Excel given the demand for related products relative to this spreadsheet tool. Also see the Microsoft Excel Pros and Cons page to help understand why and why not use Microsoft Excel as an audit software. The goal of this pros and cons section is to separate the fact from fiction on this heated topic.

CaseWareIDEA, Inc. recently was awarded a large contract (over 6,000 licenses) with KPMG member firms (see press release). They have also released a limited version of their product with basic features and functions that analyzes less information than their full product although five times the size of a spreadsheet. Given the limited functionality and data it will process the software is sold at a discount (see press release).

Audit the Data....or Else whitepaper released by Baroudi Blour consulting firm providing numerous pros for using continuous auditing and monitoring techniques at organizations.

August 2004 New Articles/Tools on Audit Software.Net

Microsoft Excel Pros and Cons Page - With the debate out there on why and why not use Microsoft Excel as an audit software, AuditSoftware.Net developed a page devoted to articles and links on the topic. The goal of this web section is to separate the fact from fiction on this heated topic.

The 8th CAS (Continuous Audit Symposium) will be held at Rutgers Newark on November 5th and 6th.... papers, presentations, and ideas for panels are being requested. Click here for the announcement and, if interested, click here to register. Please try to register early as space is limited.

Continuous Auditing Presentations From Orlando, Florida - These Powerpoints are from Miklos Vasarhelyi, Rutgers University.

Use Test Sets To Maximize Your Audit Software - See how pre-coded reports can maximize your data analysis software....with minimal time invested on your part. Over 30 reports in the Accounts Payable and Revenue audit areas are available for your use. Just watch the seven-minute Macromedia Flash video to learn more.

ACL and Center for Continuous Auditing Finalize Comprehensive Sarbanes-Oxley Survey - Survey finds that not nearly half of the surveyed participants are ready for the first deadline. Also see more on how continuous monitoring can be used to more cost efficiently maintain compliance.

The MTC and FTA are co-sponsoring a conference titled, "FTA/MTC Statistical Sampling Workshop" from October 17 through the 19 at a cost of $285. For more information, please see the seminar announcement.

July 2004 New Articles/Tools on Audit Software.Net

Free Technology Diagnostic Offered By AuditSoftware.Net - A 30-minute complimentary diagnostic service is being offered by Rich Lanza of AuditSoftware.Net to anyone interested in maximizing their technology investments. Just watch the brief video and follow the simple instructions to get started. You have nothing to lose!

New Automated Audit Program Area Now Available - We have now created an area for sharing automated audit programs and test ideas. The goal of such an area is to increase collaboration on the topic so please check it out. If everyone posts just one new idea, in a month, we could have thousands (based on our web traffic). It is free and requires no signing up to post/read ideas. Thanks in advance for your support.

Sarbanes-Oxley Section of AuditSoftware.Net now available - A new section has been added to AuditSoftware.Net focused primarily on using technology to support the new Sarbanes-Oxley regulation.

Making Sense of Sarbanes-Oxley Tools (IIA) - Article originally in the Internal Auditor magazine (February 2004) presents the various options for Sarbanes-Oxley technology, explaining their benefits, and also providing a list of current marketplace vendors.

Managing the Risks of 409 / The Reality of Real-Time Reporting - Two articles that talk to an area of the Sarbanes-Oxley law that is not focused on as much as it should: real-time reporting. These articles do a good job at dissecting this section of the law and helps allow readers to get their arms around the issue. I find the best statement is: "CFOs are going to have a huge challenge on their hands to comply with 409," says Richard Roth, chief research officer at The Hackett Group. "Even at the best companies, it's a tremendous task to find and reconcile data and get it back to the business unit" for confirmation. Finance executives at companies with many operating units, each with differing data standards, will find it particularly tough sledding, he adds

ACL Offers Continuous Controls Monitoring - ACL software offers business assurance and continuous controls monitoring through four new focused applications in the areas of travel & entertainment, purchase to pay, procurement card, and money laundering.

Sarbanes-Oxley Compliance With IDEA - IDEA software provides a one page summary of tests that can be performed to help comply with the new Sarbanes-Oxley regulation.

May 2004 New Articles/Tools on Audit Software.Net

First Microsoft Access Self-Study Video Training Course for Auditors and Fraud Examiners - The Association of Certified Fraud Examiners announced the release of Using Microsoft Access to Audit Payables for Fraud, an 8-hour CPE video course (CD-Rom based) to get participants up and running with Microsoft Access and teach them 10 practical reports. See the review by AuditNet.

The Role Of Confirmations In The Audit Process and How To Automate Them (CapitalConfirmation) - White paper talks to the need for improved confirmations of cash accounts in an audit and a new service that automates the entire process.

Using Software To Sniff Out Fraud (Business Week) - Article focuses on the trends in business and audit firms to use more data analysis (be they expensive or free) to combat fraud. And as best stated by Toby Bishop in the article: Eventually, basic accounting software will incorporate many of the tools that now come in anti-fraud programs. Even as that happens, companies that specialize in accounting technology will develop many more ways to either prevent fraud or find and close loopholes before they can be exploited. "Frauds that are possible will happen," says Bishop. "The key is to minimize the opportunity." And for the good guys, that's a never-ending task." .

Quick Fix SarbOx Solutions Will Be Replaced By The End of 2005 (Gartner) - Research suggests that companies that hurried to implement a risk management documentation solution in 2004 will switch it by the end of 2005.

April 2004 New Articles/Tools on Audit Software.Net

Dashboards Everywhere - Making dashboards for organizations to "drill down" into more detailed data is a great way to get everyone in the organization from executives to front-line employees to take action on measures appearing out of whack. Two recent articles do a great job at summarizing the benefits of these tools from Computerworld and another from DM Review.

Sarbanes-Oxley Sparks Forensic Apps Interest (Computerworld) - While there are more forensic applications in existence than listed in this article, this news flash is promising news that using computers to find fraud is an up-and-coming area.

March 2004 New Articles/Tools on Audit Software.Net

First Ever Audit and Assurance Software Expo Materials Available - The first audit and assurance software expo happened on March 11, 2004 with 23 software vendors and over 200 participants. Now see the expo website we created with all of the content for free.

Add-In Software Turns Excel Into a Leading Audit Software - A new add-in makes Excel into a fully-functional audit software with the power to sort, summarize, look for duplictaes, join files, and much more. Click here to learn more about the product or click here for a functional comparison of the Add-In to other leading audit software.

Sarbanes-Oxley sparks forensic apps interest (Computerworld) - Reports that organizations are starting to implement forensic applications to look for fraud in order to help comply with Sarbanes-Oxley, and because it makes solid business sense.

Best To Start With a Data Audit (Meta Group) - Reports that organizations should complete data audits as part of their risk assessment process.

Drowning in Data (CFO.com) - Reports that there are two main issues with data in today's companies....that there is too much to sift through without analysis tools and 10 percent to 30 percent of the data flowing through corporate systems is bad. The estimated cost of mistakes alone equate to $600 Billion. The article goes on to discuss compliance software solutions and their apparent immaturity in the marketplace.

Audit Your Data....or Else (Baroudibloor) - Provides a good synopsis of data errors that can occur, the implications given new regulations, and how to prevent these issues from arising in the future..

Staying Competitive: Embracing Corporate Transparency (SAS/CFO.com) - Webcast facilitated by Mary Driscoll (CEO, CFO.com Industries) and with a panel of experts including Don Tapscott (author of the Naked Corporation) discussing the benefits and challenges of using technology to ensure a transparent corporation.

February 2004 New Articles/Tools on Audit Software.Net

Deep Discounts Offered On Proactive Survey Tools (LIMITED TIME OFFER) - As a preview to the March 11 Audit Software Expo, PeopleView, makers of ComplianceSight (proactive employee survey tools used to fight fraud and improve corporate governance) is providing a deep discount to anyone who comes through AuditSoftware.Net or goes to the March 11 Audit Software Expo. These discounts are a remarkable increase from their regular discounts.

First Ever Audit and Assurance Software Expo Announced for March 11. See press release and related brochure for this exciting event. Attendees receive 4 CPE credits which is FREE to IIA members and $50 for anyone else interested in attending. The event will provide practical discussions from twenty leading audit software vendors and free tools to assist in any associated implementation. The expo will be held in Fairfield, NJ (U.S.A) from 8:30 a.m. to 5 p.m. To register, please read related brochure and then Email DCroken@JHCohn.com.

Build An Instant Network in The Field (Colligo) - See from this case study how PriceWaterhouseCoopers uses Colligo to create instant networks in the field.

The Need For Corporate Governance (D'Arcangelo Software Services) - Article provides the backdrop for the need for enhanced corporate governance and then key factors to look for in a risk management software product.

January 2004 New Articles/Tools on Audit Software.Net

Using Excel as an Audit Software (PDF Format: 1.3 MegaByte File) - Document explains how to use Excel as an audit software tool. With this document, users can no longer say that audit software is difficult. For now, even a tool as simple as a spreadsheet can and should be used as an audit software. Many readers have noted that this document showed them what is possible with audit software in analogous terms they could understand. With the “curtain exposed” users can now focus their time on the more critical activities of creatively dreaming up new tests, detecting control gaps and fraud, as well as, improving their business intelligence. Also read related press release and article on ITAudit. I also suggest you take a look at ActiveData, an inexpensive Excel add-in that makes it a fully-functional audit software (Click Here)

Can Excel Double As An Audit Software (ITAudit) - Compliment article to the above whitepaper, this article explores how Excel can act like an audit software showing a practical example using a data file (also available for download).

Journal Entries and Other Adjustments (AICPA) - Practice advisory on why journal entries require more auditing this year due to SAS 99 and other previous audit standards. Also provides ideas of reports to run using computer assisted audit tools.

The Evolution of Assurance Software (ITAudit) - Article walks through the overall software industry as it relates to audit, assurance, and risk management. Also has some interesting thoughts for the future....key word is "integration".

Users Struggle to Pinpoint IT Costs on Sarbanes-Oxley Compliance (ComputerWorld) - Interesting statistics on the cost of Sarbanes-Oxley related software/tools/complaince.

The Impact of Sarbanes-Oxley on Enterprise Applications (Approva) - This whitepaper provides a summary of the SarbOx requirements and then how a software package looking for control breaches in an ERP package can be implemented to continuously monitor change.

December 2003 New Articles/Tools on Audit Software.Net

Meeting the Need For Financial Savings With An Audit-In-The Box Tool - Shows how one organization is producing measurable savings using an inexpensive audit-in-the-box tool.

Moving Beyond Sarbanes-Oxley To Improved Governance Using Software Tools - Explains how software tools can help raise the bar on a Sarbanes-Oxley effort to an enterprise risk management program....and what to look for in these tools.

Free Sarbanes-Oxley Software Tool Released (Automated Audit Flows) - Automated Audit Flows recently released a free Lotus Notes based tool to help document risks and controls on a Sarbanes-Oxley effort. It even comes with pre-defined risk libraries to use in the assessment of risk (or you can define your own).

Center for Continuous Auditing - Sixth Annual Conference Materials (Texas A&M - Center for Continuous Auditing) - Web area with all presentation materials from the recent three-day conference on continuous auditing.

European Spreadsheet Risk Interest Group is dedicated to increasing awareness of spreadsheet errors amongst academia and industry and to promoting research regarding the extent and nature of the problem, methods of prevention and detection of errors and methods of limiting damage. They have various articles on their site, an annual conference in Europe, and a mail list at: http://groups.yahoo.com/group/eusprig

Proactive Control Monitoring (ITAudit.Org) - Explains how employee survey tools can be turned into a data analysis goldmine for fighting fraud.

New Worries About Disgruntled Employee Litigation and the New Whistleblower Laws (PeopleView) - Presents how organizations need to establish very open whistleblowing protocols (most efficiently using technology). With such measures in place, the risk of lawsuits is minimized while fraud reduction is maximized. Also see related article that aligns this type of work to each section of the Sarbanes-Oxley Act relative to "whistloblowing".

Can Tech Untangle Sarbanes-Oxley - (Fortune) - Fortune magazine attempts to make sense of the "free employment act" Sarbanes-Oxley seems to have made for general and ERP software vendors. Provides pros and cons of believing the hype.

Sarbanes Oxley:Hidden Shoals for the Unwary (CARDDecisions) - I found so many enlightenment points reading this article that I suggest it to anyone completing risk assessment of their Sarbanes-Oxley project.

Proactively Detecting Fraud Using Computer Assisted Reports Summary Article (IT Audit.org) - The Institute of Internal Auditors (IIA) Research Foundation announced the posting of a free online document to help business professionals worldwide use computers to fight fraud. Proactively Detecting Occupational Fraud Using Computer Audit Reports is designed to assist auditors, fraud examiners, and management in implementing data analysis routines for improved fraud-prevention and -detection. This report provides a comprehensive checklist of data analysis reports for every occupational fraud type in existence, as well as, general guidance to help audit teams better analyze company data. Since its release, it has been downloaded over 50,000 times....see what all the buzz is about. Also see French version. Also see other version in AccountantsWorld.

November 2003 New Articles/Tools on Audit Software.Net

Test Sets Announced for ACL and IDEA / Read Recent Book Review - The Payables Test Set for ACL and IDEA consists of a comprehensive payables audit questionnaire plus a menu-driven application on CD-ROM that works with ACL or IDEA. It identifies which of nearly 60 essential audit questions can be answered through simple observation and inquiry, and which require data analysis. It identifies the data files that will be needed for each of 33 automated tests, spells out how the tests should be run, and provides guidance in interpreting the results and following up with additional audit testwork. The entire application is set up for beginners with minimal ACL/IDEA knowledge, but documented line by line so that anyone with the proper ACL/IDEA skills can customize the tests to fit their unique needs.

Recovery Audit: Now In a Box (Cash Flow Guardian) - Provides an overview of the how the entire accounts payable recovery business is moving in the direction of companies purchasing "turnkey" rulesets to drive their accounts payable recovery, as well as, the benefits of this approach. It concludes with a checklist for selecting the best accounts payable audit solution for your company's needs.

Proactive Deterrence: Analyzing Internal Control Data To Minimize Fraud and Abuse (PeopleView) - Explains how employee survey tools can be turned into a data analysis goldmine for fighting fraud.

Using Automated Tools to Improve Sarbanes-Oxley Implementations - Provides an overview of a Sarbanes-Oxley documentation and testing tool and related considerations for your next purchase of such a tool.

BI & XBRL - A Marriage Waiting to Happen (BI3.Net) - Article explains the benefits of XBRL and an application of it in a financial statement analysis toolpack (Audit Intelligence).

Impact of technology on Sarbanes-Oxley efforts. (Protiviti) - Gives an overview of the key technology impacts due to the new Sarbanes-Oxley effort.

Using Software to Sniff Out Fraud - (Business Week Online) - Provides an assessment of the market of technology tools currently being used to fight fraud.

Using Audit Software To Help Ensure Sarbanes-Oxley Compliance (AICPA) - Helps auditors understand the impact audit software can have on the Sarbanes_Oxley compliance effort and improve it.

The Debtor’s Digital Reckonings - Talks to completing a review of the entire trail of e-data within computerized accounting records.

Continuous Auditing: Leveraging Technology (The CPA Journal) - Articles defines continuous auditing and then explains how to get over some of the basic hurdles in its path to implemtation.