Technology supporting Sarbanes-Oxley compliance, fraud detection and financial statement audits has developed into a booming niche market in recent years. Although many publications and organizations offer lists of technologies, few comprehensive market research studies have been done. Cash Recovery Partners, LLC, published one of the few last week.
âAnyone looking to use technology in improving the efficiency of their Sarbanes-Oxley engagements or enhancing their audit-related activities can learn something from this research. I have learned more in the past year writing this research than in the last 13 years I have spent working in this technology space,â says Rich Lanza, president of Cash Recovery Partners, LLC and co-author of the 2005 Buyer's Guide to Audit, Anti-Fraud and Assurance Software.
More than 500 hours of vendor and user research was used to identify, analyze and map solutions from over 100 technology vendors. The authors identified best practices and industry trends as well as clearly defining how the various technologies can be integrated for maximum organizational benefit.
âIn the past two years, we have seen more interest and associated product releases in audit, anti-fraud and assurance technology than in the past ten years combined. This will continue into 2006 and beyond as companies see the value of integrating audit technology into their business,â adds Dean Brooks, president of Ekaros Analytical Inc. and co-author.
Copies of the 2005 Buyer's Guide to Audit, Anti-Fraud and Assurance can be purchased from www.auditsoftware.net.