#Germany #Munich #Compliance #risk management #AuditBoard

AuditBoard Expands Its Operations to Germany

AuditBoard, a recognized leader in improving audit, risk, and compliance processes, has made a significant leap into the German market, offering tailored solutions to help enterprises adapt to evolving risks. The announcement, made at the Audit Leadership Summit held in Munich, underscores AuditBoard's dedication to providing localized support to its growing base of customers in Germany.

This launch aims to modernize the approach to risk management, facilitating improved collaboration among audit and risk teams within enterprises. Scott Arnold, AuditBoard's CEO, emphasized that this initiative allows German businesses to transform the often complex and challenging risk landscape into a strategic advantage. With Germany being one of the largest economies in the world, the decision to establish a localized presence reflects the company's commitment to meeting the specific needs of this unique market.

The need for effective risk management in Germany is underscored by a recent survey involving over 230 internal audit leaders conducted by Panterra in cooperation with AuditBoard. The findings revealed that a mere 46% of German corporations maintain unified leadership for their audit and Governance, Risk, and Compliance (GRC) functions. This disunity often results in ineffective communication and fragmented processes, which hinder the ability to swiftly respond to emerging risks. Only 27% of survey respondents reported utilizing shared platforms for real-time information sharing, highlighting a critical gap that AuditBoard’s solutions aim to fill.

As AuditBoard continues to grow globally—serving over 50% of Fortune 500 companies and consistently ranking among the fastest growing technology firms in North America—its entry into the German market represents a pivotal step not only for the company but also for organizations striving to bolster their governance and risk management functions. The firm also recently appointed Philipp Verhoeven as its Director of Sales and Head of Germany, further illustrating its commitment to cultivating a robust presence within the country.

Verhoeven stated, “It is an honor to join AuditBoard to help address the specific challenges German audit and risk teams face every day.” He underscored the company’s customer-centric approach and identified a significant opportunity to foster meaningful change in how German audit, risk, and compliance teams operate.

The expansion comes against the backdrop of increasingly complex regulations at the national and European levels that German organizations must navigate. Operational silos and manual methodologies can significantly impede the efficiency of internal audit and compliance functions, making this localized support well-timed and necessary. As these teams strive to collaborate more effectively and enhance operational efficiencies, AuditBoard’s innovative solutions are designed to break down barriers, streamline processes, and provide comprehensive risk insights that empower organizations to thrive.

With its award-winning platform recognized for excellence in risk management, and accolades including the Cybersecurity Breakthrough Award, AuditBoard's expansion into Germany not only elevates its business impact but also signifies a significant step forward in the evolution of risk management practices in Europe.

For more information regarding AuditBoard’s expansion and services, you can visit AuditBoard.com.