Workiva Inc. released Audit Analytics, a new capability integrated into its fit-for-purpose Internal Audit Management solution. Audit Analytics strengthens risk assurance and greatly improves efficiency throughout the process for audit, compliance and risk leaders who are looking to initiate or optimize their approach to data analytics.
“We are continually enhancing our cloud platform to make it more open, intelligent and intuitive for our customers as they solve their complex business challenges”
“We are continually enhancing our cloud platform to make it more open, intelligent and intuitive for our customers as they solve their complex business challenges,” said Julie Iskow, chief operating officer of Workiva. “We disrupted the audit market when we first entered it with our internal audit management solution. Audit Analytics now provides risk leaders analytic solutions that are robust, easy to use, and can deliver a quick return on investment.”
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Workiva’s Audit Analytics capabilities eliminate manual, sample-size testing by enabling full-population analysis and providing auditors with data insights that drive greater risk assurance; all without the need to learn proprietary scripting languages. Customers can upload data directly into Workiva’s cloud platform or employ Workiva’s chain automation technology to integrate scheduled imports of data from mission critical applications.
Leveraging Workiva’s pre-built analytics library in addition to any customer defined queries, the solution automatically scans and evaluates complete populations of data to rapidly identify anomalies, errors, potential fraud and trends for further investigation. This results in a more streamlined process that increases the efficiency and effectiveness of audit teams.
Workiva’s Audit Analytics was released at the 2021 Amplify Events Series Audit Risk and Compliance Day, the first of four virtual events dedicated to simplifying complex work.