AuditBoard and EY US Join Forces to Innovate Risk Management Solutions

Enhancing Risk Management Strategies through Alliance

In an era defined by rapid changes and evolving threats, effective risk management has become essential for organizations globally. AuditBoard, a leader in AI-powered risk management solutions, has taken a bold step forward by extending its alliance with Ernst & Young (EY US). This partnership aims to redefine how businesses approach risk management by integrating innovative technologies with deep industry expertise.

Strategic Collaboration for Enhanced Visibility

The newly expanded alliance showcases the strengths of both entities: AuditBoard's cutting-edge connected risk platform, combined with EY's advanced capabilities through EY.ai for Risk. This integration is set to deliver unparalleled visibility and assurance in navigating a complex risk landscape, addressing challenges from cybersecurity threats to regulatory changes.

More than 70% of enterprises anticipate an increase in risk management staffing over the next two years, with 40% planning to boost their cybersecurity teams. With their complementary strengths, the alliance between AuditBoard and EY US will provide solutions essential for modern risk and compliance functions.

Responding to Modern Challenges

“Today’s organizations are grappling with unprecedented levels of risk, from digital security to compliance obligations,” said Jim Sperduto, Chief Growth Officer at AuditBoard. “By leveraging the combined forces of EY.ai for Risk and our innovative platform, we’re offering a proactive solution that empowers clients to focus on competitive advantages rather than merely managing risks.”

This sentiment resonates as many organizations recognize the need for a more forward-looking strategy that integrates advanced AI technologies. Audits and compliance now require a profound understanding of the interconnected nature of risks, which the alliance intends to address.

The Need for Unified Risk Management

Prashant Karanam, EY Global Internal Controls Leader, highlighted the importance of collaboration between technology providers and professional services to effectively navigate the evolving risk landscape. The partnership aims to unify the experience for clients, improving their ability to gain insights and manage risks efficiently.

With technology and professional insight working hand-in-hand, AuditBoard and EY US have the potential to create a more cohesive environment for managing risk. The synergies realized through the partnership are expected to deliver comprehensive solutions tailored to meet the contemporary challenges faced by organizations today.

Looking Ahead

As businesses increasingly recognize the necessity of robust risk management frameworks, the partnership places both AuditBoard and EY US in a favorable position to lead the industry. By providing tools that enhance decision-making and support risk mitigation, clients will benefit from improved control environments that help manage risks proactively.

To learn more about this promising partnership and its implications for the future of risk management, visit the EY booth at the Connected Risk Experience at Audit & Beyond or head to AuditBoard.com/Alliances to explore further.

Conclusion

With this expanded collaboration, AuditBoard and EY US are set to revolutionize how organizations view and handle risk. By combining industry-leading technology and professional expertise, they are well-prepared to tackle both current challenges and future uncertainties in risk management.