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AuditBoard Revamps GRC Operations with AI-Powered Solution

In a significant move for the governance, risk, and compliance (GRC) landscape, AuditBoard has unveiled its latest product, Accelerate. This innovative AI-driven solution aims to streamline workflows and enhance auditing processes for risk management teams across the globe. With increasing demands for efficiency and accuracy in audit practices, AuditBoard is setting a new standard by introducing continuous assurance capabilities and natural-language workflows that promise to significantly elevate trust within enterprises.

The introduction of Accelerate builds on the existing foundation of AI innovations in AuditBoard’s platform, endorsing its commitment to providing state-of-the-art tools for audit, risk, and compliance professionals. According to Olabode Olaoke, Head of Cybersecurity Risk at Block, the integration of AI has already transformed their approach to security risk oversight, stating that they're only beginning to harness its full potential. With the added functionalities of Accelerate, audit teams can anticipate faster insights and increased efficiency, thus enabling their roles as key contributors to business success.

Key Features of Accelerate

1. Audit Agent: This feature revolutionizes the traditional audit fieldwork process by compressing what typically takes weeks into a matter of hours. By utilizing AI for selecting risk-based samples, it enhances the accuracy and consistency of audits, while also speeding up documentation cycles and improving overall audit efficiency.

2. Continuous Monitoring and Auditing: This advancement allows teams to move away from point-in-time assurance practices. Instead, by employing continuous auditing and control testing, organizations can consolidate processes and eliminate tedious manual evidence collection, thereby significantly increasing productivity and real-time oversight.

3. Document Intelligence: With the ability to convert raw notes into audit-ready artifacts, this feature enables teams to derive valuable insights and generate comprehensive stakeholder reports effortlessly. It automatically transforms walkthrough notes into detailed narratives and summaries that highlight key risks and emerging trends across multiple audits, fostering greater coverage and understanding.

Happy Wang, AuditBoard's Chief Product and Technology Officer, emphasized that the Accelerate platform unlocks the potential for GRC teams to become strategic partners within their organizations. By harnessing enterprise-grade AI capabilities, teams can automate fieldwork, generate outputs ready for audits, and access real-time insights to bolster their operational strategies.

The Importance of AI in GRC

The growing importance of AI in GRC practices cannot be overstated. As businesses face an ever-evolving risk landscape, leveraging advanced technology is crucial to maintaining a competitive edge. AuditBoard's approach prioritizes precision and accountability, ensuring that all AI actions are logged and auditable. This allows users to maintain control while applying human judgment supported by AI-enhanced capabilities.

To witness these innovations firsthand, AuditBoard is inviting professionals to join their upcoming event, Audit Beyond, which focuses on transforming the risk landscape in the age of AI. For those seeking more information or wishing to explore the Accelerate capabilities further, further details can be found at AuditBoard.com.

About AuditBoard

As a leading AI-powered GRC platform, AuditBoard has made significant strides in reshaping the way major companies manage risk. Trusted by over half of the Fortune 500, the platform is recognized for its effectiveness in enhancing audit, risk, and compliance management processes. Notably, AuditBoard has received top ratings from customers across G2, Capterra, and Gartner Peer Insights, and was recently acknowledged for being one of North America's fastest-growing technology firms by Deloitte for the sixth consecutive year.

In conclusion, the launch of Accelerate marks a pivotal moment for GRC teams, empowering them to leverage cutting-edge technology in their operations. As enterprises continue to evolve in their approach to risk management, AuditBoard stands at the forefront of innovation, ready to support teams in navigating this complex landscape.