What is an audit confirmation?
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Audit confirmations are an audit procedure performed by an accountant when conducting a financial statement audit. Audit confirmations are used to verify the audit client’s account balances with the third parties that hold those accounts. Historically, these were paper forms sent through the mail. It could take weeks or months to elicit a response. Today, AuditConfirmations makes this process significantly faster, easier, and more secure by processing them electronically.
What is an alternative procedure to a confirmation?
This is where the auditor gains information to audit information on a client through the use of the client’s log-in credentials to an online system.
What are the benefits of an alternative procedure to a confirmation?
- Get information on your client when the responding party won’t complete a confirmation request.
- Fast and easy.
- More secure than traditional paper-based confirmations.
- Tools to instantly track the status of outstanding alternative procedure requests.
- Reduced paper waste.
What Makes AuditConfirmations.com Great
- Direct access to hundreds of financial institutions for alternative procedure requests.
- NEW! Do all the work for your confirmations BEFORE BUSY SEASON and have them waiting for you the day after the balance sheet date.
- Our alternative procedure service is the only one specifically built for auditors and allows the client to maintain complete control over their login credentials.
- NEW! Use the simple mobile interface to check confirm status, send reminders, and stay on top of confirmations while on the go! Simply login from your mobile phone (for a login shortcut, go to http://confir.ms)
- Reasonable pricing at $18 per confirmation (for standard confirmations) or $18 per account (for alternative procedure requests).
- Receive a PDF version of each confirmation form for the audit work papers that includes a complete audit log.
- Customer support via email.
- Independently tested for security 365 days per year.