Workiva purchases AuditNet to add content
Four months after making its first acquisition, compliance management software company Workiva on Tuesday announced it was acquiring AuditNet to add the leading online portal for the global audit community to its offerings.
AuditNet enables audit practitioners to access and share content, resources, and audit program tools and models, guiding them through regulatory changes, emerging risks, different testing approaches and new risk and control frameworks.
Workiva entered into a strategic partnership with AuditNet in March 2020 to provide its customers with access to the AuditNet content catalog. The terms of its acquisition of AuditNet were not disclosed.
“Digital communities like AuditNet… are essential for businesses looking to accelerate digital transformation,” Workiva CEO Marty Vanderploeg said in a press release. “Workiva’s acquisition of AuditNet adds to our customer offering, ensuring that organizations of all sizes and maturities can look to the Workiva platform to rapidly scale their teams, strengthen risk assurance and improve considerably the effectiveness of the audit process. “
The deal follows Workiva’s August purchase of OneCloud, a technology businesses use to integrate and unify data from thousands of applications across on-premises or cloud infrastructure.
Workiva, which was founded in 2008, enables companies such as Google, Slack and Delta Air Lines “to connect disparate data from their documents, spreadsheets and presentations to deliver automated and contextual reports to managers, shareholders, regulators or any other person. concerned with a company’s compliance and governance.
From 2022, Workiva will integrate AuditNet’s digital assets into its own technology, including placing premium content on the new Workiva marketplace.
“This acquisition will ensure that AuditNet’s expertise is accessible and relevant to even more global audit teams,” said Jim Kaplan, CEO of AuditNet. “I believe in Workiva’s mission to generate transparent reports for a better world and have seen how their technology streamlines processes to increase the efficiency and effectiveness of audit teams. “