Transforming Risk Management: AuditBoard and EY Unveil UK Centre of Excellence

Transforming Risk Management: AuditBoard and EY Unveil UK Centre of Excellence

AuditBoard and EY have joined forces to enhance risk management services in the UK and Ireland. This strategic partnership is set to provide businesses with innovative solutions for modernizing their risk frameworks and boosting operational resilience.

New Centre of Excellence in the UK

As part of their collaboration, EY has unveiled a dedicated Centre of Excellence in the UK. This facility is designed to offer consulting and integration services tailored specifically for AuditBoard clients. The centre aims to deliver strategic guidance that empowers businesses to navigate the complexities of today’s regulatory landscape.

Insights from Leadership

Chris Gallagher, the EY UK&I risk consulting leader, expressed excitement about the alliance, stating, “We are delighted to announce the alliance with AuditBoard in the UK market. This partnership, which originated in 2022 with EY US, focuses on bespoke consulting and integration services to help businesses effectively leverage technological advancements.”

Ravi Patel, the AuditBoard director of alliances for EMEA, added, “In today’s regulatory environment, teams must prioritize efficiency and agility. We are thrilled to expand our support across EMEA, equipping our clients with forward-thinking risk management strategies that ensure resilience and continuity.”

Integrating Technology for Enhanced Risk Management

This alliance seamlessly integrates EY’s strategic advisory capabilities with AuditBoard’s cloud-native platform. This collaboration aims to:

  • Support businesses in adapting to regulatory changes, including UK corporate reform.
  • Facilitate the adoption of artificial intelligence (AI) in risk processes.

AI-Driven Capabilities from AuditBoard

AuditBoard has recently introduced a suite of new AI-driven capabilities, enhancing their platform’s functionality. Key features include:

  • AI Scoping Memos: These tools generate detailed audit scopes based on risk data and key processes.
  • AI Cross-Audit Summaries: These provide consolidated findings in executive-level reports for better decision-making.
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Moreover, AuditBoard has launched a Next Gen Reporting Platform that offers users a redesigned interface, smarter bookmarking, real-time insights, role-based permissions, and enhanced dashboard actions.

Empowering Audit Teams

Happy Wang, the Chief Technology Officer at AuditBoard, stated, “These innovative enhancements empower our clients to integrate AI into their process DNA, reducing the time spent on manual tasks and enabling them to focus on strategic initiatives. We are confident that these features will elevate audit teams within their organizations, helping them gain trust and deliver significant business value.”

For more information on AuditBoard’s solutions, visit their official website. Additionally, learn more about EY’s consulting services by exploring their advisory page.

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