Top 10 Accounting Auditing Software Solutions Compared
By Dante Holloway | Published: 2023-10-27 | Category: Accounting Auditing
About Accounting Auditing
Accounting auditing software streamlines audit processes, enhances collaboration, manages documentation, identifies risks, and ensures compliance with regulations. These platforms centralize workpapers, automate testing, and improve reporting accuracy for internal and external audits.
Scoring Criteria
- → Functionality
- → Ease of Use
- → Integration Capabilities
- → Reporting & Analytics
- → Customer Support
- → Value for Money
The Best Accounting Auditing
#10
Onspring
By Onspring Technologies
A flexible no-code GRC and business process automation platform, configurable for audit management.
Platforms & Use Cases
Platforms: Cloud, Web
Best For: Internal Audit, Risk Management, Compliance, Vendor Management, Business Process Automation
Key Features
- ✓No-Code Platform: Highly configurable workflows, dashboards, and reports without coding.
- ✓Process Automation: Automates tasks, notifications, and approvals across various processes.
- ✓Integrated GRC Solutions: Offers pre-built solutions for Audit, Risk, Compliance that can be customized.
Scorecard (Overall: 8.0 / 10.0)
Pricing
Platform + Solutions
Contact Vendor
- Core platform access
- Choice of pre-built solutions
- Unlimited applications/configurations
- Support
Limitations: Pricing based on platform tier, solutions, and users, Requires configuration effort
Pros
- + Extremely flexible and configurable platform
- + No-code approach empowers business users
- + Strong process automation capabilities
- + Excellent customer support reputation
Cons
- - Requires time investment for configuration and setup
- - May lack some niche, deep features of specialized audit tools out-of-the-box
- - Newer compared to some established players
Verdict
"A highly flexible platform ideal for organizations wanting to customize audit workflows and integrate them with broader GRC or business processes."
#9
BlackLine
By BlackLine
Cloud platform for finance controls and automation, specializing in account reconciliation and financial close tasks.
Platforms & Use Cases
Platforms: Cloud, Web
Best For: Account Reconciliation, Transaction Matching, Task Management, Journal Entry, Variance Analysis, Compliance
Key Features
- ✓Automated Reconciliation: Streamlines and automates balance sheet account reconciliations.
- ✓Task Management: Manages and tracks financial close tasks and deadlines.
- ✓Compliance Module: Supports control documentation, testing, and reporting for SOX.
Scorecard (Overall: 7.7 / 10.0)
Pricing
Modular Subscription
Contact Vendor
- Choice of modules (Reconciliation, Tasks, Journals, etc.)
- ERP integrations
- Reporting capabilities
Limitations: Pricing depends on selected modules and user volume, Primarily focused on accounting operations, audit is secondary
Pros
- + Market leader in account reconciliation automation
- + Broad suite of financial close tools
- + Reduces manual effort and improves control
- + Scalable platform
Cons
- - Can be expensive
- - Implementation can be complex
- - Audit management features are less comprehensive than dedicated audit suites
Verdict
"Excellent for automating accounting operations, particularly reconciliation and close tasks, enhancing control and audit support."
#8
FloQast
By FloQast
A close management software with strong workflow automation, reconciliation, and audit trail capabilities.
Platforms & Use Cases
Platforms: Cloud, Web
Best For: Month-End Close, Reconciliation Management, Flux Analysis, Audit Readiness & Support
Key Features
- ✓Close Checklist & Workflow: Automates and manages tasks for the financial close process.
- ✓AutoRec Reconciliation: Automates the reconciliation process for accounts.
- ✓Audit Trail & Documentation: Provides clear documentation and support for auditor requests.
Scorecard (Overall: 8.0 / 10.0)
Pricing
Subscription
Contact Vendor
- Close management
- Reconciliation tools
- Analytics dashboards
- Integrations
Limitations: Pricing based on modules and company size, Not a full audit management suite, focused on close/reconciliation
Pros
- + Excellent for streamlining the financial close
- + Very user-friendly interface
- + Strong reconciliation automation
- + Improves audit readiness significantly
Cons
- - Not a dedicated internal audit management tool
- - Audit features are secondary to close management focus
- - Less suited for operational or IT audits
Verdict
"A top choice for accounting teams focused on improving the close process and audit readiness, rather than managing the full audit lifecycle."
#7
Oracle Risk Management Cloud
By Oracle
Part of Oracle's Cloud suite, focuses on risk assessment, control monitoring, and audit within Oracle environments.
Platforms & Use Cases
Platforms: Cloud, Web
Best For: Risk Management, Access Controls, Configuration Controls, Internal Audit (within Oracle Cloud)
Key Features
- ✓Continuous Control Monitoring (CCM): Automated detection of sensitive configuration changes and transaction anomalies in Oracle Cloud.
- ✓Security Analysis: Analyzes user access, roles, and privileges against SOD policies.
- ✓Financial Reporting Compliance: Supports SOX compliance processes integrated with Oracle ERP Cloud.
Scorecard (Overall: 7.2 / 10.0)
Pricing
Module within Oracle Cloud
Contact Vendor
- Risk and compliance modules
- Integration with Oracle ERP/HCM Cloud
- Advanced access controls
Limitations: Primarily focused on Oracle Cloud environments, Pricing part of overall Oracle Cloud subscription
Pros
- + Deep integration with Oracle Cloud applications
- + Strong capabilities for automated control monitoring within Oracle
- + Leverages existing Oracle security models
Cons
- - Limited utility outside the Oracle ecosystem
- - May require significant Oracle expertise
- - Audit management features less comprehensive than dedicated tools
Verdict
"Best suited for organizations using Oracle Cloud ERP/HCM seeking integrated risk, control, and compliance monitoring."
#6
SAP Audit Management
By SAP
Audit management solution integrated within the SAP ecosystem, leveraging SAP data and processes.
Platforms & Use Cases
Platforms: Cloud, Web, On-Premise (as part of S/4HANA)
Best For: Internal Audit, Compliance Monitoring, Operational Audit, Risk-Based Auditing (within SAP environments)
Key Features
- ✓SAP Integration: Direct access and analysis of SAP system data and configurations.
- ✓Mobile Capabilities: Supports audit execution and evidence capture via mobile devices.
- ✓Audit Planning & Scheduling: Tools for risk assessment, audit universe definition, and resource planning.
Scorecard (Overall: 7.0 / 10.0)
Pricing
Component of SAP GRC/S/4HANA
Contact Vendor
- Integration with SAP environment
- Workflow management
- Reporting
Limitations: Primarily designed for organizations heavily invested in SAP, Pricing tied to broader SAP licensing
Pros
- + Seamless integration with SAP systems
- + Leverages existing SAP infrastructure and data
- + Mobile access is a plus
Cons
- - Best suited for SAP-centric organizations
- - Can be complex and costly
- - User interface may not be as intuitive as dedicated audit tools
- - Less flexible for non-SAP audits
Verdict
"A strong choice for organizations deeply embedded in the SAP ecosystem looking for integrated audit capabilities."
#5
CaseWare IDEA
By CaseWare International
A powerful, desktop-based data analysis software designed specifically for auditors and accountants.
Platforms & Use Cases
Platforms: Desktop
Best For: Data Analytics for Audit, Fraud Detection, Continuous Monitoring, Transaction Analysis
Key Features
- ✓Advanced Data Analysis: Extensive functions for data import, manipulation, sampling, and testing.
- ✓Audit-Specific Functionality: Includes Benford's Law, Gap Detection, Summarization, Stratification.
- ✓Scripting & Automation: Supports scripting (IDEAScript) for repeatable analysis tasks.
Scorecard (Overall: 7.7 / 10.0)
Pricing
Perpetual License
Contact Vendor
- Full data analysis capabilities
- Access to standard functions
- Import/Export features
Limitations: Desktop-only, Requires separate purchase/integration for full audit management, Pricing obtained via quote
Pros
- + Extremely powerful data analysis capabilities
- + Widely used and recognized in the audit profession
- + Handles very large datasets effectively
- + Good range of audit-specific tests
Cons
- - Primarily focused on data analysis, not full audit workflow management
- - Desktop application limits collaboration
- - Steeper learning curve for advanced features
- - Requires separate tools for workpaper management
Verdict
"The go-to tool for auditors needing deep data analysis capabilities, often used alongside other audit management systems."
#4
TeamMate+ Audit
By Wolters Kluwer
A long-standing, comprehensive internal audit management solution focused on efficiency and adherence to standards.
Platforms & Use Cases
Platforms: Cloud, Web, On-Premise Option
Best For: Internal Audit, SOX Compliance, Operational Audit, Government Audit
Key Features
- ✓Configurable Workflows: Tailors audit processes (planning, fieldwork, reporting) to specific methodologies.
- ✓TeamMate Analytics: Integrated data analysis tool with over 150 pre-built tests.
- ✓Audit Lifecycle Management: End-to-end coverage from risk assessment and planning to reporting and follow-up.
Scorecard (Overall: 7.5 / 10.0)
Pricing
Per User License
Contact Vendor
- Core Audit Module
- Optional Analytics Module
- Support and Maintenance
Limitations: Requires contacting sales for pricing, Tiered based on user count and features
Pros
- + Deep audit functionality based on years of experience
- + Strong focus on audit standards (IIA)
- + Integrated analytics capabilities
- + Flexible deployment options (Cloud/On-Premise)
Cons
- - Interface can feel dated compared to newer cloud-native tools
- - Complexity can lead to longer implementation times
- - Analytics may be less powerful than specialized tools
Verdict
"A robust and trusted solution for established audit departments, especially those valuing deep configuration and standards alignment."
#3
HighBond
By Diligent (formerly Galvanize/ACL)
An enterprise GRC platform with strong roots in data analytics, offering robust audit, risk, and compliance capabilities.
Platforms & Use Cases
Platforms: Cloud, Web, Desktop (Analytics component)
Best For: Internal Audit, Data Analytics, Risk Management, Compliance, IT Security
Key Features
- ✓Integrated Analytics: Powerful data extraction, analysis (ACL Analytics), and visualization tools built-in.
- ✓Robotics Process Automation (RPA): Automates control testing and monitoring tasks.
- ✓Audit Management: Manages planning, fieldwork, reporting, and issue tracking within the platform.
Scorecard (Overall: 8.2 / 10.0)
Pricing
Subscription
Contact Vendor
- Modular platform access
- Analytics capabilities
- Automation features
- Support plans
Limitations: Pricing depends heavily on modules, user roles, and data volume
Pros
- + Market-leading data analytics capabilities
- + Strong automation features (RPA)
- + Comprehensive GRC platform
- + Established vendor with global presence
Cons
- - Can have a steeper learning curve, especially analytics
- - Interface can feel less modern than some competitors
- - Pricing can be high
Verdict
"A powerhouse for data-driven audit and GRC teams needing advanced analytics and automation."
#2
Workiva Platform for Audit & Controls
By Workiva
Cloud platform excelling in connected reporting, data management, and collaborative audit and control processes.
Platforms & Use Cases
Platforms: Cloud, Web
Best For: Internal Audit, SOX Compliance, Financial Reporting, Risk Management, ESG Reporting
Key Features
- ✓Connected Data & Reporting: Links audit workpapers, risks, and controls directly to financial and regulatory reports.
- ✓Collaboration Tools: Features robust commenting, task management, and version control.
- ✓Process Management: Manages evidence collection, testing, and issue remediation workflows.
Scorecard (Overall: 8.3 / 10.0)
Pricing
Quote-Based
Contact Vendor
- Access based on licensed solutions (Audit, SOX, Reporting)
- Data integration capabilities
- Support services
Limitations: Pricing varies significantly based on specific needs and user numbers
Pros
- + Unmatched connected reporting capabilities
- + Strong data lineage and integrity
- + Excellent for complex reporting and SOX needs
- + Good collaboration features
Cons
- - Can be complex to implement and learn
- - Higher price point
- - Focus heavily weighted towards reporting outputs
Verdict
"Ideal for organizations prioritizing integrated reporting, data consistency, and collaboration, especially in public companies."
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#1
AuditBoard
By AuditBoard
A cloud-based platform connecting audit, risk, and compliance management for streamlined workflows and visibility.
Platforms & Use Cases
Platforms: Cloud, Web, Mobile
Best For: Internal Audit, SOX Compliance, Risk Management, Compliance Management, IT Audit
Key Features
- ✓Unified Platform: Combines SOX, OpsAudit, RiskOversight, Compliance, and TPRM modules.
- ✓Workflow Automation: Automates administrative tasks, evidence collection, and issue tracking.
- ✓Real-time Reporting: Provides dashboards and customizable reports for audit committees and management.
Scorecard (Overall: 8.7 / 10.0)
Pricing
Custom
Contact Vendor
- Access to selected modules
- Implementation support
- Ongoing customer success
Limitations: Pricing based on modules and user count
Pros
- + Highly user-friendly interface
- + Strong integration across modules
- + Excellent customer support reputation
- + Comprehensive feature set
Cons
- - Premium pricing compared to some competitors
- - Can require significant setup time for complex environments
Verdict
"A top-tier, user-friendly solution particularly strong for organizations seeking an integrated GRC and audit platform."
Final Thoughts
The accounting auditing software landscape offers diverse solutions, from dedicated audit management platforms like AuditBoard and TeamMate+ to data analysis powerhouses like IDEA, and GRC suites like HighBond. Tools like Workiva excel in connected reporting, while FloQast and BlackLine focus on close automation with audit benefits. Flexible platforms like Onspring provide customizability, and ERP-integrated options from SAP and Oracle serve specific ecosystems. Selection depends on prioritizing ease of use, analytics depth, reporting integration, workflow automation, or platform flexibility.