Internal auditors play the critical role of being the third line of defense. When risk owners and management do not identify risk or adequately mitigate the risk, it is imperative for the internal auditors to provide independent and objective insight on risk. The audit management solutions market caters to this need by automating internal audit operations through its primary and secondary offerings. Audit management solutions help manage the complexity of the auditor's role, not the organization's risk.
Gartner defines the market for quality management system (QMS) software as the business information management system that manages quality policies and standard operating procedures (SOPs). This may include, but is not limited to, customer requirements, quality documents, International Organization for Standardization (ISO) requirements, manufacturing capabilities, robust design, auditing procedures and protocols, nonconformance/risk management activities, testing criteria, and industry-specific regulations (for example, the U.S. Food and Drug Administration [FDA] or the Federal Acquisition Regulation [FAR] requirements).