Bank Responses

Which banks can AuditConfirmations be used for?

Our automated confirmation process currently supports approximately 20 major banking institutions. The complete listing of banks supported by the automated service is available inside the system or by contacting us for further information.

Our standard electronic confirmations can be sent to, and responded to by, a bank representative at any bank. With the standard confirmation service the auditor still get the benefits of increased convenience, higher response rates, faster completion, response verification/fraud prevention, and increased security over the traditional paper-based confirmation process.

For “standard” bank confirms, what information is the bank representative required to provide?

A bank representative is required only to provide the balance of accounts included in the confirmation and any notes explaining if additional accounts or loans were left off the confirmation. All other information is provided by the client (account owner).
 

Is AuditConfirmations compliant with the Gramm-Leach Bliley Act (GLBA)?

Yes. AuditConfirmations does not disclose NPI except to the extent expressly authorized by the auditors, audit clients, and bankers to allow such use in the performance of completing electronic audit confirmations for the purposes of a financial statement audit. Moreover, authorized disclosures of NPI are done in accordance with the GLBA and other related regulations. NPI is not disclosed to any unrelated third-party unless in cases required by law. AuditConfirmations maintains appropriate safeguards to protect NPI.