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AuditBoard Launches Integrated ESG Program Management Solution

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AuditBoard Launches Integrated ESG Program Management Solution

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  • Purpose-built extension to AuditBoard’s connected risk platform operationalizes ESG programs for audit and risk teams in response to rising oversight.

AuditBoard, the leading cloud-based platform transforming audit, risk, and compliance management, has launched a new purpose-built solution that extends its platform to empower internal audit and risk management teams to centralize and manage their environmental, social, and governance (ESG) programs. AuditBoard ESG features powerful data collection and analysis capabilities to automate manual tasks, simplify framework reporting and disclosures, and ensure ESG data is audit-ready.

The release of AuditBoard’s ESG solution comes as ESG risks are rapidly becoming a key focus area for boards, investors, and regulatory bodies, which is reflected in a recent AuditBoard report. The report highlights that more than 60% of risk and compliance leaders anticipate ESG having a significant or moderate impact on their organizations in the next year. In addition, a 2022 Deloitte survey of internal ESG stakeholders at large public companies found that 57% said that data availability and accuracy remain their greatest challenges to meeting disclosure requirements.

See related article: Basel Committee issues principles for the effective management and supervision of climate-related financial risks

AuditBoard ESG addresses these challenges by centralizing data in a single system of record; simplifying evidence collection and reporting; and enabling teams to perform materiality assessments. The integrated solution also aligns topics and metrics against common reporting frameworks — including the Sustainability Accounting Standards Board (SASB), the Global Reporting Initiative, and the Task Force on Climate-Related Financial Disclosures — to identify gaps and surface overlapping requirements.

“ESG has the potential to shift the regulatory landscape as dramatically as Sarbanes-Oxley did twenty years ago,” said Scott Arnold, President and CEO at AuditBoard. “We designed and built AuditBoard’s ESG solution to give our customers the tools they need to manage and streamline their programs, providing invaluable assurance to their organizations during this time of rapid transformation.”

Source: AuditBoard

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