AuditBoard has expanded its connected risk platform with the launch of Scenario Planning, a tool designed to help executive leaders and risk teams move from backwards-looking reporting to forward-focused anticipation. The release comes at a time when organisations are facing increasingly unpredictable conditions across supply chains, economic markets, and geopolitics, all of which place added pressure on internal audit and risk functions.
Scenario Planning gives teams the ability to build out a full range of possible future events, quantify their likelihood and impact, and model thousands of outcomes in minutes. The aim is to speed up strategic decision-making by offering a clearer picture of how different risk events could unfold and how best to respond.
AuditBoard’s recent Risk Intelligence report highlights the urgency behind this shift. Seventy per cent of respondents expect to increase risk management staffing within two years, and 40 per cent plan to expand their cybersecurity teams. For many, thriving in what AuditBoard describes as an era of hyper volatility will depend on the ability to explore diverse future scenarios quickly and systematically.
According to the company, Scenario Planning equips risk teams to take a data-driven approach to uncertainty. By quantifying threats and testing a broad range of potential developments, teams can build immediate response plans and strengthen organisational resilience.
Happy Wang, AuditBoard’s Chief Product and Technology Officer, says the tool reflects a wider change in expectations: organisations can’t rely solely on documenting risks; they need to anticipate what could affect strategic objectives. He notes that the new solution is designed to support operational continuity, improve competitive positioning, and reduce costs while contributing to revenue growth.
An internal audit senior manager at a global medical device firm using the platform echoed this view, explaining that Scenario Planning gives their team the ability to test ‘what-if’ situations rigorously and convert uncertainty into actionable guidance. This, they said, enables risk owners to offer leadership clearer direction and greater confidence when navigating disruption.