AuditBoard - Experts & Thought Leaders

AuditBoard, the pioneering AI-powered global platform for connected risk, announced the findings of its 2026 Focus on the Future report, revealing the internal audit profession is navigating an environment of hyper volatility defined by accelerating, interconnected risks. The survey of 213 global internal audit pioneers shows the profession is being challenged by three converging forces: persistently tight resources, the rise of AI, and a demand for role redefinition. Overcome resource limitations The report highlights that internal auditors must overcome resource limitations by leveraging AI as a capacity multiplier while simultaneously upskilling their teams to provide greater value.  This is the only way the function can thrive in this next-generation environment.  Key findings: converging pressures on the internal audit profession The survey identifies a dangerous gap between aspiration and capability, driven by these core challenges: AI readiness lags execution: Only 39 per cent of internal audit pioneers say AI will significantly transform the profession within five years. At the same time, readiness to provide assurance over AI lags behind adoption. Only 28 percent of pioneers express confidence in their teams’ ability to effectively audit AI risks, and 63 percent of organizations have not yet defined a formal risk appetite or governance framework for AI use, leaving internal auditors with little structure for oversight. The resource paradox: Internal audit continues to face expanding responsibilities with stagnant or shrinking budgets. 43 per cent of respondents reported no change in their 2025 budgets compared to 2024, and 18 per cent reported reductions. Staffing levels followed a similar pattern, with 57 per cent maintaining flat full-time headcounts despite expanding mandates. The identity crisis persists: Over half of the respondents aspire to be recognized as trusted advisors, yet fewer than a quarter currently feel their departments are perceived in this way. This is a critical vulnerability, as functions viewed purely as compliance enforcers risk being rendered irrelevant by automation. Keeping a competitive edge While AI can enhance efficiency, it cannot replicate the unique qualities that distinguish outstanding auditors. The survey identified the top skills differentiating auditors in 2026 and beyond: Professional skepticism and inquisitiveness Relationship-building and communication Ethical judgment Critical thinking Risk for the future of the profession Richard Chambers, Senior Advisor, Risk and Audit, AuditBoard, said: "Internal audit stands at a tipping point. The pressures outlined in the report create unprecedented risk for the future of the profession." He adds, "To thrive amid hyper volatility, internal auditors should utilize AI to automate routine tasks, freeing up teams to focus on more specialized tasks and move beyond merely reporting what is happening to become the foresight-driven strategic partners the business needs."

AuditBoard, the AI-powered global platform for connected risk transforming audit, risk, and compliance, announced the launch of Accelerate, a powerful new AI solution that delivers natural-language workflows, continuous auditing and monitoring, document intelligence, and agentic AI. The launch builds on the strong foundation of AuditBoard’s existing AI innovations, further empowering global risk teams with the world’s first AI-driven connected risk platform. AuditBoard’s new AI functionality “AuditBoard’s AI has already been instrumental in our security risk oversight, and we’re just scratching the surface of its potential,” said Olabode Olaoke, Head of Cybersecurity Risk, Block. “It has fundamentally changed how our teams work, generating faster insights and helping us make a meaningful impact on the business. We’re eager to see how AuditBoard’s new AI functionality will revolutionize our workflows and unlock the next level of efficiency for our team.” Transformational GRC-trained AI With Accelerate, risk teams can deliver proactive insights and become a strategic enabler of the business, compliance teams can move faster and elevate their role as enablers of security, trust, and growth, and internal audit teams can shift from executing manual control checks to analyzing root causes and delivering strategic insights to the CFO and executive leadership. Accelerate consolidates AuditBoard’s newest AI capabilities into a single experience for these teams, including: Audit Agent: Transform audit fieldwork by reducing weeks of work into hours through accelerated control testing and documentation cycles. Leverage AI to select representative, risk-based samples that improve accuracy, consistency, and audit efficiency. And, rapidly annotate large volumes of receipts and supporting documents to streamline testing. Continuous monitoring and continuous auditing: Eliminate manual evidence collection and reviews, and move away from point-in-time assurance with continuous auditing and control testing. Document Intelligence: Turn raw notes into audit-ready artifacts to glean insights and generate stakeholder reports, consolidating progress and insights from multiple audits into clear status summaries. Automatically transform walkthrough notes into detailed narratives and cross-audit summaries that surface key risks, processes, and trends to enhance coverage and insight. Enterprise-grade capabilities of AI "Accelerate is a huge unlock for how our customers run their teams," said Happy Wang, Chief Product and Technology Officer at AuditBoard, adding "GRC teams can leverage the enterprise-grade capabilities of AI Accelerate to automate fieldwork, generate audit-ready outputs, and surface real-time insights — truly becoming strategic partners for their business." Oversight, compliance, and internal standards AuditBoard’s AI is designed for precision and accountability. Capabilities are domain-trained, secure, and auditable, with actions logged and traceable to support oversight, compliance, and internal standards.  Practitioners remain in control, applying human judgment while AI accelerates the work.

AuditBoard, the pioneering AI-powered global platform for connected risk transforming audit, risk, and compliance, announced it has reached a definitive agreement to acquire FairNow, an end-to-end, purpose-built AI Governance (“AI Gov”) platform. FairNow further enhances AuditBoard’s industry-pioneering capabilities with intelligent, automated, and step-by-step AI compliance guidance. With AI Governance requirements expanding globally, AuditBoard customers are now uniquely positioned to stay compliant and mitigate AI-related risks. New AI solution for GRC teams This acquisition is coupled with the release of Accelerate—AuditBoard's powerful, new AI solution for GRC teams, also announced now. The integration of FairNow’s dedicated AI Governance solution aligns with the strong foundation of AuditBoard’s natural-language workflows, continuous auditing and monitoring, document intelligence, and agentic AI, creating a truly end-to-end AI-powered platform for managing risk. All of which builds on AuditBoard’s existing commitment to both AI innovation — and safety — following the announcement of its first AI governance solution earlier this year. Upcoming AI governance requirements FairNow's platform enables organizations to simplify their end-to-end AI governance with a streamlined AI registry, dynamic risk assessments, and intelligent automated compliance. This unified offering directly addresses the execution gap in AI governance. A key finding in AuditBoard’s Risk Intelligence Report, released just last week, identified that fewer than 30% of pioneers feel prepared for upcoming AI governance requirements, indicating a lack of clear ownership that undermines trust.  For many organizations this means seeking compliance with frameworks such as the NIST AI Risk Management Framework, ISO/IEC 42001, and the EU AI Act, which provide structured guidelines for responsible AI development and deployment by addressing areas like fairness, transparency, risk management, and data governance. AuditBoard’s Connected Risk Platform “The speed of AI adoption has made robust, connected AI governance a mission-critical function for enterprises across every industry,” said Raul Villar Jr., CEO of AuditBoard. “Integrating FairNow into AuditBoard’s Connected Risk Platform delivers the most comprehensive and modern solution on the market, directly addressing the enormous risks that come alongside this technology." "Combined with the launch of Accelerate, this acquisition will set AuditBoard apart by leapfrogging nascent competitive offerings and empowering our customers to transform their risk and compliance programs.” AI-powered connected risk Guru Sethupathy, CEO and Founder of FairNow, echoed this excitement. “FairNow believes that governance will be the key enabler in the age of AI - managing risks while building trust and driving adoption,” said Sethupathy. “Our mission to simplify AI governance will be accelerated with AuditBoard, the clear pioneer in AI-powered connected risk. Joining AuditBoard is the logical next step in our journey to scale our impact. We look forward to working with the AuditBoard team to solidify the platform’s position as the global go-to solution for modern risk management - intelligent, automated, and connected.” The acquisition is intended to significantly expand AuditBoard’s platform, creating a unified, AI-first solution for managing all enterprise risk. Morrison & Foerster LLP served as AuditBoard’s legal advisor.