We’ll look at    ĭata analysis functions Ease of use Other considerations Ways to select a product Here we’ll compare the four main GAS products. I’ve also included Excel in the comparison, as it’s often used as a substitute for GAS, and can perform many of the more simple tasks. It’s been a few years since I last compared the GAS and fraud detection packages available, and as there are a couple of new players in the market I thought it was time for an update. Generalized audit software packages are tools designed specifically for auditors and have two main functions: 1) To facilitate and automate the testing of 100% of a population 2) To focus the auditors attention on specific areas or transactions which are of higher risk Many audit firms (and internal audit departments) have already implemented audit software, however it is alarming that there are still many that have not. The most common reason for not using such software is not what you might expect, cost – it’s ease of use and learning requirements. But this is a myth – audit software has become far simpler to use, and there are now even a couple of products that run within Excel. But with this huge number of transactions, it’s impossible to analyse everything manually, so what is the alternative? The answer is what is known as “generalized audit software”.

Comparison of Generalized Audit Software In today’s modern and computerized world even small companies have huge numbers of financial transactions going through the books. As an (external) auditor, it’s your responsibility to analyse these transactions and ultimately to form an opinion as to whether the accounts show a true and fair view of the company’s position.

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