Draft:AuditBoard
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Comment: Most of the links 404. The Axios one doesn't even mention the Fortune 500. Anerdw (talk) 02:23, 21 June 2025 (UTC)
| Company type | Private |
|---|---|
| Industry | Enterprise software, SaaS |
| Founded | 2014 |
| Founders | Daniel Kim, Jay Lee |
Key people | Scott Arnold (CEO) |
| Products | Risk management, audit software, compliance tools |
| Revenue | $200 million ARR (2024) |
| Owner | Hg |
| Website | auditboard.com |
AuditBoard is an American cloud-based platform that provides software for audit, risk, and compliance management. Founded in 2014, the company serves enterprises seeking to manage internal audit processes, risk assessments, IT compliance, and environmental, social, and governance (ESG) initiatives. Its products are used by organizations across a range of industries, including approximately half of the Fortune 500.[1]
History
[edit]AuditBoard was founded by by former PricewaterhouseCoopers and Ernst & Young Global Ltd. auditors Daniel Kim and Jay Lee.[1] The two founders grew up as middle school friends in Cerritos, Calif.[2] The company is headquartered in Los Angeles, California.
In 2018, the company raised $40 million in a funding round led by Battery Ventures to expand product development and go-to-market operations.[2]
Acquisition
[edit]In May 2024, AuditBoard was acquired by London-based private equity firm Hg for approximately $3 billion. The acquisition was aimed at accelerating product innovation and international expansion.[1]
Products
[edit]AuditBoard offers cloud-based modules to manage:
- **SOX compliance**
- **Internal audit workflows**
- **Enterprise risk management (ERM)**
- **IT risk and compliance (ITRC)**
- **ESG program oversight**
As per the company website, the platform is designed to integrate with external BI and visualization tools like Power BI and Tableau. It can also integrate data from platforms like Oracle NetSuite, Workday, Paylocity, AWS, Axure, and Google Cloud.[3]
AI initiatives
[edit]In 2025, AuditBoard introduced advanced generative‑AI features to its internal audit platform, unveiled at the Great Audit Minds conference.[4] These include:
- **AI‑Scoping Memos** — automatically produce detailed audit scopes based on risk, processes, and work steps.
- **AI‑Cross‑Audit Summaries** — consolidate findings across audits into executive summaries.[4]
SC World reported on Scott Arnold, CEO of AuditBoard being a keynote speaker at the 2024 Audit & Beyond conference. described AuditBoard’s platform as leveraging AI to streamline risk management and align IT security and risk teams with unified smart‑tech workflows.[5]
By integrating built‑in AI into core functions—risk mapping, control recommendations, summarisation, and vendor assessment—AuditBoard positions itself at the forefront of AI‑driven GRC platforms.[6]
Recognition
[edit]AuditBoard has been ranked Number 1 on G2’s Top 20 Audit Management Software rankings with an over G2 satisfaction score of 99.[7]
See also
[edit]- Governance, risk management, and compliance
- Sarbanes–Oxley Act
- Risk management
- Software as a service
- Enterprise software
References
[edit]- ^ a b c "AuditBoard Sells for $3 Billion". Los Angeles Business Journal. 2024-06-10. Retrieved 2025-06-23.
{{cite web}}: CS1 maint: url-status (link) - ^ a b "With $40 million for AuditBoard's risk and compliance toolkit, LA's enterprise startups notch another win". TechCrunch. 2018-08-15. Retrieved 2025-06-23.
- ^ "AuditBoard integrations". AuditBoard. Retrieved 2025-06-24.
- ^ a b "AuditBoard Adds Advanced AI Capabilities to Internal Audit Platform". CPA Practice Advisor. 2025-03-10. Retrieved 2025-06-24.
- ^ "AuditBoard's playbook for risk: Unified teams, smart tech and cutting‑edge AI". SC World. Retrieved 2025-06-24.
- ^ "Cloud Technology Archives – AuditBoard Adds Advanced AI Capabilities". SC World. Retrieved 2025-06-24.
- ^ "The Top 20 Audit Management Software". G2.com. Retrieved 2025-06-24.
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