Business management solutions provider
Specifically, the new AI solution can assist with audit planning and control intelligence by suggesting audit names, entities and assessment factors based on the organization's risk profile. It will also recommend controls for regulatory gaps and highlight regulatory changes that will impact existing controls and testing. The program automatically generates routes and tracks requests based on scope, risks, controls and prior-year data.
The AI will also automatically generate context-aware lists and evidence demands based on audit scope, risk context, control requirements and prior year data. It then routes, tracks and follows up on those requests. It also traces the relationships between risks, controls, audits and findings across the Diligent One Platform, which provides the ability to customize and create dashboards using company data and systems, offering a connected view of risk management spanning governance, risk, compliance, audit and ESG. Through this unification of data, the AI can answer complex questions with contextualized insight from risk identification through remediation and board reporting.
The product is specifically designed to work with Smart Prep 360 in Diligent Boards, which review board and committee materials to surface accounting anomalies, control gaps, repeat findings and potential fraud indicators. AuditAI takes those board-level signals and translates them into audit actions to close the gap between what boards see and how risks are resolved.
"Internal audit leaders are being asked to expand coverage, drive greater impact and provide contextual assurance while explaining risk in plain language to the board, all without adding headcount," said Scott Bridgen, general manager of risk and audit at Diligent, in a statement. "AuditAI transforms risk signals and audit data from external sources into prioritized audit actions and converts those insights into clear, board-ready insights in Diligent Boards. Now, audit teams can spend less time chasing evidence and more time advising the business, while boards get a real-time, transparent view of how risks are being managed."
