TrustRadius: an HG Insights company

AuditBoard

Score7.8 out of 10

29 Reviews and Ratings

Get a Demo

What is AuditBoard?

AuditBoard is a cloud-based audit management software solution from the company of the same name in Cerritos.

Categories & Use Cases

Reviews

What users are saying about AuditBoard.
View all reviews

Great tool for auditors

Incentivized
Phoebe ZhengView profile
Internal Auditor in Finance and Accounting at AppFolio, Inc. (1001-5000 employees employees)

Use Cases and Deployment Scope

AuditBoard help keeps our SOX testing more organized. We use it for SOX audit, Ops audit, etc.

I don't believe it's used in other department.

Pros

  • It has a profile page for each control where we can document audit testing and attach supporting documents for each test.
  • AuditBoard has improved the editing features of the test sheet and attached documents. When I started, I would have to edit a file on my laptop, delete the file attached, and re-attache the latest file, now it allows me to edit as a pdf or excel file on my laptop and then sync with AuditBoard.
  • We can also request supporting documents to control owners within the program, and they can upload documents to the request.

Cons

  • Dashboard could be more user friendly
  • The narrative features could be better integrated with google doc

Most Important Features

  • Audit testing
  • Document request
  • Share with external auditors

Return on Investment

  • It helped us complete SOX program

AuditBoard is the Apple of GRC Tools!

Incentivized
Mark SchiffView profile
Manager of Internal Audit at Church & Dwight Co., Inc. (5001-10,000 employees employees)

Pros

  • The implementation is quick and seamless. The implementation managers are very good and very quick to respond to questions.
  • The tool is so easy to use. Very minimal training is needed to teach how to use.
  • There is so much that can be done in the tool. Really any audit project can be done better with the tool.

Cons

  • Some minor features are missing.
  • A lot of turnover with customer support.
  • Some modules cant manager a lot of data.

Most Important Features

  • Risk and controls matrix
  • Requests and surveys
  • Audit projects

Return on Investment

  • Hard to quantify. It was cheaper than the tool we had and we were able to get rid of standalone tool for surveys. overall, just better user experience for all.

Capable All-In-One Audit Management/GRC System

Incentivized
Courtney SheffView profile
Senior Internal Audit Manager at United Bankshares, Inc. (1001-5000 employees employees)

Pros

  • Allows line of business managers to review and report SOX control status/changes which automatically update the controls in the related narratives.
  • Shows status of work.
  • Exports system data to Excel to create many helpful reporting possibilities.
  • Organizes audit tasks and information.

Cons

  • We used to perform our Risk Control Analysis (RCA) for each audit's planning in an Excel spreadsheet. Once we purchased the Risk Oversight module, AuditBoard helped us convert the RCA to a system function rather than a spreadsheet. At first, we lost some of the functionality the spreadsheet provided, but AuditBoard did continue to help us build and work towards a solution more similar to what we previously had. Though happy with it, it's still not perfect. As one example, I'd like to be able to link actual Ops Audit work steps that cover the risk and controls being outlined in the RCA, rather than just adding a comment to state which steps cover them. More of a preference, I suppose.
  • I also had demoed their beta Resources and Scheduling module, but it didn't have enough functionality at the time to work for how we put the quarterly Internal Audit schedule together (using Excel). One thing I recall was that you couldn't pull in SOX controls or non-chargeable work (such as education or administration) to auditor's schedules; it was meant to schedule the Ops Audits only. It is possible they have already fixed or improved this; I just haven't seen the updated version.

Most Important Features

  • We love using workstream for management surveys and certifications. Soon we hope to expand and use it for audit requests and issue corrective action plans and updates.
  • The Audit log and previous document versions is very helpful when trying to determine who made edits or restoring a previous version.
  • Being able to export audit work and supporting files with one click of the download button is such a time saver.

Return on Investment

  • When we first purchased AuditBoard, it was cheaper than the previous Audit GRC system we'd been on, annually. This made it an easy sell to the Audit Committee.
  • We saved some time during audits at adoption as well because our old system was very slow to open files, save, download, etc. All of that improved with AuditBoard.

Alternatives Considered

MetricStream Internal Audit Management, Wolters Kluwer TeamMate and HighBond by Galvanize

Great Audit Tool

Melissa GonzalezView profile
FVP & Senior Auditor at Falcon International Bank (201-500 employees employees)

Pros

  • Record keeping
  • Electronic data maintenance of workpapers
  • Communication across all areas of the bank
  • Efficiency in reporting and management of risk and controls
  • Ease of downloading all workpapers and reports

Cons

  • Highlighting important information in the Notes section.

Most Important Features

  • Electronic record keeping
  • Downloadable workpapers
  • Ease of communication among managers and auditors
  • user friendly platform

Return on Investment

  • Positive ROI
  • Efficiency of auditor use
  • Effective communication

Alternatives Considered

Wolters Kluwer TeamMate

AuditBoard - Enhancing internal audit and controls

Incentivized
Verified User
Analyst in Finance and Accounting (5001-10,000 employees employees)

Use Cases and Deployment Scope

Auditboard was implemented for our internal audit team at the organization. However, the product was also used for internal controls. Auditboard was mainly used as a way to centralize all of the internal audit and internal controls materials. For example, the product was used to keep and link materials such as risk matrices, test plans, process maps, and other working papers. In addition, there were a lot of other features that were beneficial such as creating dashboards.

Pros

  • Control documentation
  • Dashboards
  • Reporting
  • Audit Managment
  • Maintaining Audit Trail

Cons

  • More responsive customer support
  • Increased functionality of dashboards
  • Increased cross integration with other platforms/software

Most Important Features

  • Dashboards
  • Tracking control testing
  • Communication of requests/control deficiencies

Return on Investment

  • Enhanced controls program
  • Efficient to use compared to alternatives
  • Provides data and statistics to better understand the bigger picture

Alternatives Considered

Microsoft Excel, CaseWare Working Papers, PeopleSoft Financials and Ellucian Banner

Other Software Used

Microsoft Excel, PeopleSoft Financials, Ellucian Banner

Related Products

Products similar to AuditBoard that may also meet your needs.
All comparisons
Diligent One Platform
CompareLearn more
LogicGate
CompareLearn more
Workiva
CompareLearn more