AppZen, a provider of artificial intelligence (AI) auditing solutions, has secured $35 million Series B financing led by Lightspeed Venture Partners. AppZen is looking to capitalize on the booming interest in applying AI and other advanced analytics technology to internal audit processes. Since launching its audit technology 18 months ago, Read More
It’s been 16 years since the Sarbanes-Oxley Act took effect in 2002, and companies are still wrestling with SOX compliance. Now, a new study shows they are paying more to meet the regulation’s requirements and have generally not done a good job of using technology to automate controls and ease Read More
Yesterday, AuditBoard, a cloud-software provider for risk, audit, and compliance work, announced that it had secured a $40 million investment from venture capital firm Battery Ventures. The Los Angeles-based company says it plans to use the funds to support product development, accelerate sales and marketing, and build new business partnerships. Read More
The European Union’s new data privacy rules have been in effect for more than two months now, yet many companies haven’t done much to ensure they are abiding by them, according to a recent survey. The poll, conducted by Deloitte during a webcast in late June, found that only about Read More
Companies are moving to add more automation to their internal controls over financial reporting and plan to increase their investment in automation of ICFR in the next 6-to-18 months, according to a new study. The survey, conducted by the Financial Executives Research Foundation (FERF), found that more than 80 percent Read More
Internal audit departments are taking advantage of technological advances to offer more accurate audits and better insight into complex process, often with less time and work to complete them. Many internal audit departments are using data analytics, agile, automated processes, and other technology to improve the previously manual approach for Read More
A new report from consulting firm Protiviti takes a close look at several companies’ audit departments as they attempt to adopt new technologies or help the business through digital transformation. The publication highlights the achievements of such companies as Accenture, Conservas La Costeña, Heineken, JP Morgan Chase, Juniper Network, Panera Read More
The tops risks that chief audit executives face, as identified by a new report, are likely to be familiar foes for most internal audit leaders. Chief audit executives (CAEs) are unlikely to be alarmed by a new report listing the top five risks confronting internal audit; they’ve been battling them Read More
For years, auditors have used interviews and workshops to conduct successful company assessments. As more businesses become digitized, auditors need to blend those traditional techniques with a more data-driven approaches. In the face of higher expectations for accuracy, internal audit departments need to take note: big data is changing the Read More
The European Union’s General Data Protection Regulation (GDPR) takes effect on May 25, and it represents a significant new legal regime for protecting personal data that will impact organizations worldwide. GDPR establishes standards governing the collection, use, storage and destruction of personal data of EU residents. It replaces the 1995 Read More
