AuditMap Signs License Agreement with the Inter-American Development Bank

OTTAWA, ON, Feb. 3, 2021 /PRNewswire/ - The IDB Office of the Executive Auditor selects AuditMap's flagship AI platform to support its assurance and advisory services through comprehensive analysis of financial and non-financial data using Artificial Intelligence.

AuditMap Technologies Incorporated (AuditMap.ai) is excited to announce they have signed a license agreement with the Inter-American Development Bank (IDB). The Office of the Executive Auditor will use AuditMap to expand its analytics capabilities including geopolitical, financial and non-financial risks such as trends pertaining to digital and operational activities in public and private sector covered by the IDB Group in multiple languages.

AuditMap was built from the ground up to address the sheer amount of data today's auditors must manage and analyze.  AuditMap novel AI engine, powered by proprietary deep learning provides auditors with a significant advantage in identifying financial and non-financial issues before they become threats.  Developed in conjunction with industry leaders, the AuditMap software as a service (SaaS) platform is a powerful system that solves significant pain points in the market.

"Predictive analytics, including machine learning and artificial intelligence services, are essential to sustain and advance the high quality of our audit assurance and advisory services, and to contribute with the IDB Group Board and Senior Management in the achieving social and economic institutional goals in the Latin-American and Caribbean (LAC) Region. The agreement with AuditMap solidified a qualitative jump of our analytics capabilities and certainly support the notion of augmented audit services, including recent improvements into the world of unstructured data analysis, very much in line with our strong innovation and excellence of services commitments with the organization," said Fernando Nikitin, Principal Auditor of the Inter-American Development Bank.

AuditMap's solution is key for getting the full picture of business exposures, which has always been a strenuous task for teams to tackle. The AI-powered tool among other things, unlocks the wealth of knowledge held in audit documentation by extracting key statements of interest (e.g. risks trends) while providing an easy-to-use interface to explore them.

"We've been working with the Office of the Executive Auditor for the past several months and are very excited to move forward with our license agreement.  We are looking forward to learning more as the partnership evolves using AuditMap's AI platform." Said Mathieu Lemay, CEO & Co-Founder of AuditMap.ai.

About IDB

The Inter-American Development Bank's mission is to improve lives. Founded in 1959, the IDB is one of the main sources of long-term financing for the economic, social, and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research projects and provides policy advice, technical assistance, and training to public and private sector clients throughout the region.

 About AuditMap

AuditMap.ai is a Canadian company that creates tools for the enhancement of human auditors. At our core, we are a dedicated, multi-disciplinary team of professionals, including Ph.Ds in artificial intelligence, and internal audit subject matter experts. We strive to increase audit coverage and eliminate the tedious lifting that bottlenecks your workflow. The AI-powered tool unlocks the wealth of knowledge held in internal audit documentation by extracting key statements of interest (e.g. Risks and Controls).

SOURCE Auditmap Technologies Inc.