Case Study: Ulterra builds a scalable, efficient audit program for growth and IPO readiness with AuditBoard

How Ulterra Positions for Future Growth with the Help of Protiviti and AuditBoard

Ulterra, a fast-growing drill bit manufacturer based in Fort Worth, TX, faced gaps in audit processes after rapid expansion and a change in ownership while preparing for potential future IPO activity. To strengthen controls and scale internal audit without slowing growth, Ulterra engaged Protiviti as an outsourced internal audit partner and selected AuditBoard—deploying SOXHUB and WorkStream—as its audit management platform.

Protiviti implemented audit best practices while AuditBoard centralized documentation, automated PBC requests and the monthly close, and enabled real-time reporting and collaboration among control owners and external auditors. AuditBoard’s fast implementation (a few weeks versus an estimated 90 days for alternatives) and its SOXHUB/WorkStream workflows delivered significant time savings, reduced audit fatigue and overtime, improved visibility and external-auditor adoption, and helped position Ulterra for continued growth and IPO-readiness.

Ulterra

Hugo Restrepo

Controller