Highlights:

  • AuditBoard’s exclusive, ideal ecosystem approach offers many benefits for internal audit teams.
  •  About 84% of internal audit committees now use data extraction and advanced analytics technologies in their programs.

AuditBoard, a prominent cloud-based platform transforming audit, risk, and compliance management, announced the availability of a powerful new automation and analytics solution, AuditBoard Automation and amp; Analytics. It is a powerful new automation and analytics solution for internal audit and SOX teams that utilize best-in-class apps and data sources to automate procedures and streamline data analysis within AuditBoard’s award-winning platform.

Real-time access to reliable data and analytics has become core to internal audit programs in today’s dynamic risk environment. As per a poll of North American chief audit executives conducted by AuditBoard, about 84% of internal audit committees now use data extraction and advanced analytics technologies in their programs, with about 30% increasing their use of such tools during the COVID-19 pandemic.

Many audit management solutions today, however, adopt a proprietary approach, making it difficult to benefit from more powerful, modern Robotic Process Automation (RPA), analytics, and data warehousing applications. AuditBoard’s exclusive, ideal ecosystem approach can help internal audit teams in several ways. The solution can optimize internal audit programs and offer the flexibility to leverage leading RPA, analytics, and data warehouse solutions like Alteryx, Fastpath, and Snowflake. This can streamline processes and provide them with the right analytics to help make improved data-driven decisions.

Expert’s view

“Internal audit leaders have voiced their need for powerful, flexible, and easy-to-use automation and analytics solutions for their teams,” explained Kevin Jhangiani, AuditBoard’s Chief Technology Officer. “They are also seeking a way to leverage best-of-breed RPA and analytics applications to enhance efficiency and productivity in their audit and risk work. We’ve answered their call by combining the third-party solutions they know and trust with the unparalleled user experience of the AuditBoard platform.”