Some tools are so useful that once you start using them, you wonder how you ever got by without them. Audit management software falls into that category.

Yet many credit unions are still relying on spreadsheets and emails to track audits, even though dedicated software can cut audit time by 40% or more, improve accountability, and reduce regulatory risk.

For those unfamiliar with how audit management software works—or why it’s worth considering—here’s a breakdown of its purpose, benefits, and cost.

What Is Audit Management Software?

At its core, audit management software is any tool that helps credit unions organize, track, and complete audits more efficiently.

While some credit unions rely on Outlook and Excel, those aren’t designed for audit workflows. Purpose-built software assigns roles, tracks due dates, stores documents, sends reminders, and maintains an audit trail, ensuring everything stays on track.

Some sudit management software (like Redboard) includes automation tools, further reducing manual effort. The goal is simple: make audits more manageable, repeatable, and less time-consuming, while keeping compliance top of mind.

For credit unions, audit management software can help with:

 

• Internal audits – Keeping teams accountable, tracking issues, and ensuring follow-ups are completed.
  
  
• NCUA exams – Reducing response times, keeping findings organized, and ensuring deadlines are met.
  
  
• External audits – Streamlining interactions with auditors, making document requests and findings management more efficient.

 

The result? Less stress, fewer missed deadlines, and a smoother, more compliant audit process.

What Are the Benefits of Audit Management Software?

By automating routine tasks and centralizing audit data, credit unions can eliminate back-and-forth email chains, reduce human error, and speed up audit completion. But efficiency isn’t the only advantage.

• Time savings – Redboard users breeze through audit administration tasks as much as 50% faster thanks to automation and easy, centralized organization.
  
  
• Enforcing accountability – When tasks are assigned with clear deadlines, everyone knows their role in the process. This prevents audits from stalling and ensures findings are addressed in a timely manner.
  
  
• Reducing regulatory risk – Automated tracking ensures that audits don’t fall through the cracks, helping credit unions stay compliant with NCUA expectations and avoid repeat findings.

 

To get a better idea of how credit unions benefit from audit management solutions, check out our case studies.


 

Audit Management Software Pricing

We can't speak for any other audit software solutions for credit unions.

However, we try to remain transparent about our own pricing. We believe Redboard's time savings and ROI make this an easy decision for credit unions.

If you want specifics, see our pricing details here.