AuditBoard, a cloud-based platform that transforms audit, risk, compliance, and ESG management, has partnered with audit, tax, and advisory firm KPMG to address increasing corporate risk and compliance challenges.

Through the collaboration, the parties will utilise the combined power of AuditBoard’s connected risk platform and KPMG’s deep expertise to enhance audit, risk, IT security, and environmental, social, and governance (ESG) programmes.

The companies will also help businesses to better manage growing risk challenges.

KPMG US internal audit and enterprise risk US service network leader Ric Kimball said: “The sheer pace of emerging risks and regulations has increased the need for companies to modernise audit, risk, and compliance programmes.

“By integrating our professional services with AuditBoard’s connected risk platform, enhanced with the latest AI capabilities, organisations can not only benefit from deeper insights and process enhancements but can also derive more value from their risk and compliance programmes.”

According to AuditBoard, both companies’ common customers can make use of new innovative capabilities including AuditBoard AI to transform internal audit teams with key insights, intelligent suggestions, and robust automations.

Based in the US, AuditBoard helps organsations to elevate audit, risk, sustainability, and compliance teams with the intelligent, collaborative, connected risk management platform.

AuditBoard CEO Scott Arnold said: “Today’s dynamic risk and compliance landscape requires a modern, cross-functional approach across the enterprise.

“By bringing the power of our connected risk platform together with KPMG’s renowned professional services, we’re able to help organisations gain more visibility into risk and manage it more collaboratively and efficiently.”

Last month, Xceptor, an intelligent automation platform provider for financial markets, teamed up with KPMG UK to deliver tax solutions for financial services.

The partnership aimed to offer a mix of the best tax expertise and innovative technology to bolster existing tax services and ensure the adaptability of tax processes to evolving regulatory and client demands.