Stay compliant with regulations, anticipate potential issues, and provide clarity through assurance – what aren’t audit and risk teams expected to do these days? Fortunately, AI tools designed for audit and risk purposes have exploded onto the market, helping teams manage their responsibilities and meet deadlines more easily.
With numerous solutions available in the market, it’s time to highlight some effective tools for modern audit and risk professionals.
Here are the 5 essential tools we will be exploring:
AI tools for risk:
- AI Risk Essentials for ERM
- Diligent Issue Manager
- Risk Rating Aggregation
AI tools for audit:
- AI Request Agent
- ACL Analytics AI Studio
Three AI Tools for Risk Teams
Here are the latest AI tools for risk teams.
1. Launch ERM Faster with AI
Even as risks multiply, many organizations still rely on spreadsheets and ad hoc processes that make ERM slow and reactive. Diligent’s new product, AI Risk Essentials, gives risk professionals a practical, defensible way to identify, assess, and mitigate enterprise risks with AI-powered benchmarking, all without a complex implementation.
Rather than starting from scratch, teams can use AI-powered benchmarking to surface relevant risks from a library of 200,000+ real-world risks sourced from external data, building a consistent foundation for assessment, oversight, and governance in days, not months.
How this helps risk teams:
- Identify potential enterprise risks earlier using AI-powered risk identification and benchmarking
- Establish a consistent approach to assessing and documenting risks with a guided, three-step workflow
- Strengthen governance and regulatory readiness with a centralized risk library and interactive heatmaps for clearer visibility
2. Resolve What Matters: Issue Manager
Across audits, risk assessments, and compliance reviews, issues can easily fall through the cracks. Diligent’s Issue Manager brings everything together in one place, giving teams a unified way to track, prioritize, and resolve issues – no matter where they originate.
With standardized workflows and real-time visibility, risk and audit leaders can be confident that issues are being addressed consistently and on time.
How this helps risk & audit teams:
- Centralize issues from audits, risk assessments, and controls testing
- Define ownership, priorities, and timelines with configurable workflows
- Track progress with dashboards showing overdue items and bottlenecks
- Strengthen accountability and accelerate remediation
3. Clearer Risk Insight: Risk Rating Aggregation
When risks are assessed repeatedly, clarity can quickly fade. Risk Rating Aggregation, a solution from Diligent, provides risk professionals with a transparent, standardized way to consolidate assessment results into a single, meaningful risk score.
No spreadsheets. No workarounds. Just a clearer, more defensible view of risk.
How this helps risk teams:
- Combine multiple assessments into one consistent risk rating
- Choose aggregation methods such as Average, Minimum, Maximum, or Median
- Preview results before applying them to ensure accuracy
- Improve comparability and confidence in risk reporting
2 AI Tools for Audit Teams
Read more to explore two new AI tools for audit teams.
1. Cut Audit Admin, Not Corners: AI Request Agent for Internal Audit
Evidence collection is essential, but it shouldn’t consume weeks of an audit cycle. The AI Request Agent was built to remove the manual friction that slows audit teams down, without sacrificing control or traceability.
By automating the creation, tracking, and follow-up of evidence requests, internal audit teams can spend less time chasing documents and more time delivering assurance.
How this helps audit teams:
- Automatically draft clear, context-aware evidence requests
- Route requests to the right owners and track responses in real time
- Handle reminders, overdue follow-ups, and escalations automatically
- Maintain a complete, auditable trail of requests and responses
2. AI-Powered Audit Analytics, Without the Complexity: ACL AI Studio
Advanced analytics have long been powerful – but often limited to specialists with scripting skills. ACL AI Studio changes that, bringing sophisticated audit, risk, and compliance analytics within reach of every professional, no coding required.
By combining natural-language querying, AI-guided test recommendations, and full compatibility with existing ACL Analytics scripts, ACL AI Studio removes technical barriers while preserving organizations’ existing investments in analytics. Teams can analyze millions of records, surface anomalies quickly, and produce audit-ready results with confidence.
It’s AI-powered GRC analytics — without the complexity.
How this helps audit, risk & compliance teams:
- Run advanced analytics using natural-language queries — no scripting required
- Analyze large, complex datasets and surface anomalies faster
- Get AI-guided recommendations for relevant tests and procedures
- Preserve and extend existing ACL Analytics scripts and investments
- Maintain complete, audit-ready documentation of all analytics activity
The Results of AI Tools for Audit and Risk Teams
Taken together, these innovations are designed to solve real, everyday challenges for audit and risk teams:
- Less manual work, more time for analysis and insight
- Earlier visibility into emerging and AI-driven risks
- Stronger assurance through consistency, traceability, and clarity
AI isn’t replacing judgment — it’s helping professionals apply it where it matters most.
The Next Steps
After exploring how these tools are purpose-made for audit and risk teams, the only thing left is to explore them for your organization. Whether you’re daydreaming or ready to harness these tools, our team can show you exactly how they can work in your organization’s environment. Book a pressure-free demo to learn more today.
Frequently Asked Questions
What are the AI tools for audit teams are available?
For audit teams, the AI tools are AI Request Agent and ACL Analytics AI Studio. The AI Request Agent automates evidence requests, tracks responses, and maintains an auditable trail, reducing admin time. ACL Analytics AI Studio brings AI-guided analytics and natural-language querying to analyze large datasets without scripting, preserving existing investments and delivering audit-ready results.
What is Risk Rating Aggregation and why is it beneficial?
Risk Rating Aggregation provides a transparent, standardized way to consolidate assessment results into a single, meaningful risk score. It avoids spreadsheets and workarounds, allows different aggregation methods like Average, Minimum, Maximum, or Median, and lets users preview results before applying them to improve comparability and confidence in reporting.
What problems does Diligent Issue Manager solve for audit and risk teams?
Diligent Issue Manager centralizes issues from audits, risk assessments, and controls testing, defines ownership and timelines with configurable workflows, provides dashboards to track overdue items and bottlenecks, and strengthens accountability to accelerate remediation.
How does AI Risk Essentials accelerate ERM deployment without a complex implementation?
AI Risk Essentials accelerates ERM by using AI-powered benchmarking to surface relevant risks from a library of 200,000+ real-world risks, enabling a consistent foundation for assessment, oversight, and governance in days rather than months.
What are the AI tools for risk and how do they help risk teams?
The AI tools for risk include AI Risk Essentials for ERM, Diligent Issue Manager, and Risk Rating Aggregation. They help risk teams identify, assess, and monitor risks more efficiently, centralize issues, standardize workflows, provide governance-ready insights with heatmaps, and consolidate multiple assessments into a clear risk rating.