AuditBoard has recently unveiled new AI-powered audit capabilities, marking a significant step towards integrating artificial intelligence into the audit process. The new features are designed to enhance efficiency, allowing auditors to concentrate on more strategic tasks.
With internal audit teams increasingly turning to AI, the Internal Audit Foundation’s 2025 North American Pulse of Internal Audit report revealed that a substantial number of respondents are already utilizing generative AI for internal audit activities. Moreover, the report indicated that 65% of respondents are looking to expand their use of generative AI.
AuditBoard’s latest features offer customers the ability to utilize impactful, industry-trained, generative AI-powered workflows. As the custodian of customers’ sensitive data, AuditBoard ensures strict security and privacy standards while automating repetitive tasks for its users. Among the new capabilities are:
1. AI Scoping Memos: This feature automatically assesses the scope of an audit and generates a detailed, structured memo. By considering various data points such as relevant risks, key processes, and worksteps, the tool produces a comprehensive document that ensures all critical areas are covered while maintaining consistency and accuracy. Users have the flexibility to edit the scoping document as needed.
2. AI Cross-Audit Summaries: This feature empowers audit teams by utilizing AI to create an executive-level summary with complete user control over the audits being summarized. By automating the consolidation of audit context, findings, and trends into a single, executive-level report, this feature saves time, eliminates manual effort, and provides clear, actionable insights to enhance decision-making and address key risks effectively.
In addition to the new generative AI capabilities, AuditBoard continues to introduce innovations in workflow automation and reporting. The latest offering is the Next Gen Reporting Platform, which revolutionizes reporting capabilities by providing enhanced functionality, improved user experience, and real-time data insights through an intuitive interface. Key features include a smart bookmarking system with automatic updates, formula-based custom calculations, role-based permissions, direct action capabilities from dashboards, improved field display naming, and enhanced clone maintenance.
Michael Higgins, the Director of SOX at The Trade Desk, praised AuditBoard AI for automating tasks and enhancing audit quality and efficiency. He expressed confidence that the new features will further streamline audit processes and drive greater impact within their business. Renee Murphy, Principal Analyst at Verndantix, noted a clear trend towards automated solutions to bolster efficiency and reduce errors amidst growing risks, emphasizing that AuditBoard’s new capabilities meet the market’s need for increased automation in audit teams.
Happy Wang, the CTO at AuditBoard, highlighted the importance of empowering customers to integrate AI into their processes to reduce time spent on manual tasks and focus on strategic work. He expressed confidence that these features will elevate audit teams within organizations, enabling them to build trust and deliver more business value. With these cutting-edge enhancements, AuditBoard is at the forefront of revolutionizing the audit process through the power of artificial intelligence.