AuditBoard's Acquisition of FairNow: A New Era for AI Governance in Risk Management

AuditBoard Partners with FairNow in Groundbreaking Acquisition

On October 22, 2025, AuditBoard, the prominent global platform known for its AI-powered solutions in audit, risk, and compliance, announced a pivotal acquisition of FairNow. This acquisition aims to bolster AuditBoard's capabilities in AI governance, a crucial area as organizations worldwide face rapidly evolving compliance requirements pertaining to artificial intelligence (AI).

FairNow is notable for its end-to-end AI Governance platform, which will integrate with AuditBoard's existing suite of tools. This merger promises to deliver comprehensive and intelligent AI compliance guidance for enterprises, facilitating unprecedented levels of automation and efficiency in managing compliance risks.

In the wake of growing AI governance demands, this acquisition positions AuditBoard uniquely to address the challenges that many organizations face in navigating compliance frameworks. The global AI landscape is rapidly changing, with entities needing to adhere to guidelines provided by frameworks such as the NIST AI Risk Management Framework, ISO/IEC 42001, and the EU AI Act. These standards advocate for elements such as fairness, transparency, risk management, and data governance.

A key insight from AuditBoard’s recently released Risk Intelligence Report underscores a significant gap in readiness among leaders for upcoming AI governance challenges. The report indicates that fewer than 30% of executives feel prepared, highlighting a need for structured ownership and oversight that ensures proper governance and builds stakeholder trust.

“The acceleration of AI adoption necessitates robust AI governance frameworks, which is now a fundamental requirement for enterprises across various industries,” commented Raul Villar Jr., CEO of AuditBoard. He emphasized that integrating FairNow into AuditBoard's Connected Risk Platform would create a comprehensive solution that addresses significant risks associated with AI technologies.

Accompanying the acquisition was the announcement of AuditBoard's new product, Accelerate, designed specifically for governance, risk management, and compliance (GRC) teams. This innovative solution aims to streamline processes through built-in intelligent workflows and monitoring capabilities. Together with FairNow's governance tools, AuditBoard is set to deliver an unparalleled AI-powered platform for managing enterprise risk effectively.

Guru Sethupathy, the CEO and founder of FairNow, expressed enthusiasm for the merger, stating, "Joining AuditBoard aligns perfectly with our vision to simplify AI governance. We believe this partnership will magnify our impact, offering organizations the tools they need to manage AI risks while fostering trust and adoption."

The acquisition, which was facilitated with legal support from Morrison Foerster LLP, is projected to significantly enhance the breadth of AuditBoard's services, providing a unified, AI-first approach to enterprise risk management.

In conclusion, as organizations continue to adopt AI strategies, the need for sophisticated governance mechanisms becomes increasingly urgent. AuditBoard's acquisition of FairNow is not merely a corporate strategy; it represents a decisive move towards ensuring a future where AI technologies are governed with accountability and transparency. With over half of the Fortune 500 companies relying on AuditBoard for their risk management needs, the implications of this acquisition will likely resonate throughout industries, as companies strive to keep pace with compliance demands while harnessing the power of AI innovations.

For more information about AuditBoard and its innovative offerings, visit AuditBoard.com.