Multiple Programs - AUTOUPDATE

Autoupdate.exe checks for updates for your Microsoft programs. If critical updates are found, you’ll be prompted to download and install them. Using this automated process is recommended but not required. You can manually check for updates at http://windowsupdate.microsoft.com. Once there, click on "Product Updates".

We found other less common instances of "Autoupdate.exe" including:
Wildcat! 5 - http://www.santronics.com/
Redcon - http://www.redcon.com/ .

Finally, files called audoupdate.exe and auto_update_loader.exe install with adware programs by Apropos media. These programs can track your browsing habits, they can generate popup ads, and they can update themselves. We'd recommend removing these files using WinPatrol. First, kill them under Active Tasks then remove them from your Startup Programs. If running WinPatrol 8.x or later, right click each file then select "Delete file on Reboot".

Safe if not Adware