Obtaining audit confirmations from third parties can be a tricky and time-consuming process for your auditors. Non-responses are common, creating additional work for auditors and causing delays to audit completion. This is especially concerning when reporting deadlines are tight.
Confirmation.com's online platform helps auditors to perform audit confirmations more effectively with their client's constituents such as banks, law firms, customers and suppliers. This ensures that auditors obtain responses from validated institutions and authorised responders, which combats potential confirmation fraud.
Providing authority to disclose information
Audit clients are required to provide their authority to the confirming party to disclose information to their auditor as part of the confirmation process. Historically a paper process, Confirmation.com has a quick and simple digital authority process. If you are a client that has been asked to provide authority, these short videos explain how to complete the process:
Auditors send millions of requests worldwide to their clients' banks, law firms and suppliers. Online confirmations make this process simple.