CPA.com and Confirmation.com are bringing private company financial information exchange into the 21st century with their new financial clearinghouse solution, RIVIO. The platform enables CPA firms to truly protect their firm signature, and enhance their privity defense. RIVIO does this by validating, you the Firm, and ensures that an unaltered version of financial documents you produced are delivered to your clients’ key financial stakeholders (Bankers, Private Equity Firms, Shareholders, etc).
Until now, only public companies in the United States, have had access to a dedicated financial statement clearinghouse (EDGAR) that supported authenticated document exchange among key stakeholders, such as lenders and investors. Companies who take part in financial information exchange workflow, have relied on more basic alternatives, such as email, courier services, online portals and document sharing applications.
Although these approaches are functional and practical, they provide little confidence in terms of data validity and reliability. Additionally, due to the proliferation of the cloud, and the rate at which the audit profession is changing, this is no longer a viable approach. The market been missing a solution which provides the source of origin for financial statements. With RIVIO, those needs have been met.
Be part of the effort to end the era of financial information fraud, and move towards a more reliable, and trusted source for all invested parties. RIVIO is a virtual river of intelligent information flow with users sharing more than just financial statements through this secure document repository.
Reduces the risk of fraudulent use of the firm signature and provides recall controls.
Provides a digital repository to securely collect and distribute financial information.
Repository of Intelligent Validated Inputs and Outputs
PROTECTS THE FIRM PRIVITY DEFENSE
Recipient remains unknown to firm
Eliminates 3rd party confirmations
INTELLIGENT MANAGEMENT OF FIRM REPORTS
Ability to recall reports
Ability to restrict distribution of reports
VEHICLE TO EDUCATE BANKS
Requests by banks for solvency letters
PROTECTS FIRM NAME AND REPUTATION
Firm maintains control of report
Ends era of forged reports
NAVIGATE COMPLEX VERTICAL INDUSTRY REQUIREMENTS
Dodd Frank Custody Rule
Investor Backed Companies
Internal Controls (ex: SOC)
Provide banks with confidence
Redefines and distinguishes firm’s delivery of documents
SUPPORT COMPLIANCE WITH STANDARDS
AUP's Restricted Distribution
Financial Statement Withdrawl