Power tools: 2002 audit software usage survey; three avid users talk about how they use top-rated software products to automate their most important tasks. Plus, the results from the IIA's annual poll of members' application preferences are revealed

Internal Auditor, August, 2002 by Christy Chapman

We can also perform updates easily. For example, if a user is working in Word and double clicks on a five-line table from a worksheet, the software displays the worksheet in its entirety and provides an Excel menu. If the worksheet is one of 30 in a workbook, all 30 will be available. If the user accesses worksheet number 30 and alters it in some way, that change will automatically affect the small table in the Word document.

The ability to make spreadsheet changes within our word-processing software has saved us considerable time in our data analysis work. As long as the user implements the change while in Word, it's just as if the task were performed in Excel. And the same principal applies with PowerPoint or any other Microsoft programs. The worksheet is available for making any changes, even though the user is working in a completely different program.

AN IMPRESSIVE DISPLAY

Although I appreciate many of Excel's time-saving, value-added features, my favorite aspect of the software in terms of performing data analysis work is probably its graphics capabilities. "When we give presentations to management, simplification is usually preferred. Excel's graphics enable us to present results obtained from complex data analyses in a very straightforward, accessible format. The software facilitates our ability to convey information clearly and concisely to our clients, which is one of our most critical responsibilities. Excel truly adds value to our processes by helping us to communicate our findings effectively and enabling us to provide timely, meaningful information to those whom we audit.

RELATED ARTICLE: The Survey Data

For Internal Auditor's eighth annual software survey, we invited 2,706 IIA members from around the globe to tell us about their audit software usage. Of the 610 respondents, the vast majority were from the United States and Canada, although Nigeria, India, Venezuela, Denmark, Indonesia, the United Arab Emirates, the Dominican Republic, Ukraine, Uganda, the United Kingdom, and Cape Verde were also among the addresses of those responding.

Across these locations, the survey population represents a wide range of industries, including finance, insurance, real estate, manufacturing, government, and health care. In addition, participants' organizations varied considerably in size, ranging from relatively small firms to multinational corporations with more than 10,000 employees.

We asked survey participants to indicate which products their internal audit shops are using in each of eight different software categories. We also asked them to rate their products' performance, describe the purposes for which these products are employed, and explain why, in some categories, they're not using any software at all. The following graphs provide a detailed look at the results and show how auditors, across the board, rank the latest high-tech tools.

Editor's Note: When comparing performance ratings, such as overall satisfaction, effectiveness, and level of training required, be aware that sample sizes vary across products.