AUDITING SOFTWARE: REVIEW AND ANALYSIS OF THE ADVANTAGES AND CHANGES IN ACCOUNTING SOFTWARE AND PROFESSION

Daniel H. Boylan
Judith E. Edwards
Purdue University, Fort Wayne

ABSTRACT

The continued growth of accounting software for auditors along with its growing ease of
use is reducing the need for services provided directly by the professional auditors. Businesses are
increasingly opting to replace professional accounting services with more affordable auditing
software, causing the profession to feel the impact of technological advances.
This study reviews and analyzes the advantages of auditing software, and business
satisfaction with the software across criteria including cost, customer support, ease of use, and
final overall rating satisfaction. The review indicates that companies can reduce audit service
costs by using software; risks include increased errors using accounting professionals who lack a
strong understanding of auditing concepts and procedures. However, this study confirms that the
use of auditing software for auditing and tax cannot fully replace the advice of a professional due
to the underlying complexities of the codes. Auditing cannot fully be replaced because the human
needs to be in place to gather sufficient evidence to conclude a written opinion.

Keywords: Accounting software, auditing profession, auditors, technology advances, automation, service cost, risk,
error, advisement, human element, customer satisfaction