Engyon provides AI-powered audit software that dynamically builds audit files and automates repetitive tasks for accounting firms. The platform ensures regulatory compliance and data consistency by linking audit steps directly to relevant documentation. This centralized approach allows auditors to focus on high-value analysis rather than manual data management.
Funding
Funding not disclosed
Founders
Product
Problem
Assurance firms face increasing complexity and pressure to deliver high-quality, efficient audits for financial, IT, and sustainability reporting, especially with the advent of regulations like the Corporate Sustainability Reporting Directive (CSRD). Traditional audit processes often involve manual data collection, increasing the risk of errors and inconsistencies, and making it difficult to maintain audit trails and ensure compliance. This can lead to rising audit costs and challenges in launching new assurance services.
Solution
Engyon offers an integrated audit automation platform powered by AI to streamline assurance work and ensure compliance across financial, IT, and sustainability audits. The platform automates risk assessment by generating inherent risk models based on business activities, region, and reported metrics. It also automates evidence collection by using large language models to find references for each procedure, ensuring completeness, accuracy, and reliability of reported data. Engyon's platform provides collaboration tools for efficient communication within audit teams and with clients, while also offering analytics dashboards to track audit status and health.
Target Audience
Engyon primarily targets assurance firms, including accounting firms and ESG consulting groups, that need to improve the efficiency and quality of their audit processes, particularly for CSRD compliance.
Features
- AI-driven risk assessment: Automatically generates risks based on business activities, region, company description, and reported targets.
- Automated evidence collection: Uses large language models to find specific references for each procedure, ensuring completeness and compliance.
- Integrated platform: Supports CSRD, financial, and IT audits in one tool.
- Customizable work programs: Offers tailored work programs for financial audits, interim ESRS, and full ESRS compliance, with the option to build custom programs.
- Collaboration tools: Facilitates efficient communication within audit teams and with clients.
- Analytics dashboards: Tracks the status and health of each audit.
- Secure data handling: Employs data encryption and private AI that doesn't train on customer data, ensuring GDPR compliance and preparing for ISO 27001 certification.
- Hybrid registry: Stores all checks and evidence, allowing auditors to easily find supporting evidence.