19th century technology doesn’t work for a 21st century audit.
Manual workflow processes are outdated, and less secure every year. If your firm still relies on the mail to deliver your confirmation requests, there’s a chance it could end up in the wrong hands and expose your firm to fraud. In fact, your firm’s own auditors can be held legally liable for these mishaps.
Confirmation.com uses secure technology to minimize fraud.
Designed to make audit confirmations more efficient and less risky, Confirmation.com utilizes multiple layers of authentication and security to validate the responding company and verify the authorized signer. A record of activity on every confirmation provides a traceable path of accountability to each individual involved in the confirmation process.
It is very important to us that we are reducing our exposure (to fraud) using the solution. In the past we had relied on manual confirmations to get both bank
account balances and loan balances. That involved a lot a time on our part to get the numbers. We’re very pleased with the solution. Using it, we’ve cut our
time spent doing confirmations in half. The solution helped us to improve efficiency and accuracy.
George Smith, CPA
Managing Partner
Smith, Turner & Reeves
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Current paper workflow challenges solved by Confirmation.com:
- Is the responding entity a legitimate organization?
- Is the correct person receiving the request?
- Is the responder authorized to respond?
- Who has access to the data being exchanged?
- Did the vendor really sign the confirmation?
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