Ten Tips to Improve Audit Efficiency During Busy Season
Web-based technology solutions continue to play an important role for the auditing professional, especially as it relates to efficiency. With busy season just around the corner, what are some tools auditors can use to plan, prepare, and even survive the first quarter?
As an auditor, you know that Busy Season involves audit confirmation requests. If you’re still relying on the mail to send your requests, then you know responses can be slow and difficult to track down. To make your job easier, online audit confirmations provide a fast and secure way to manage audit confirmation requests.
As a preferred provider of online audit confirmations for AICPA Trusted Business Advisor℠ Solutions, Confirmation.com can help you improve audit efficiency this busy season in the following 10 ways:
Shift Busy Season work into a more flexible period like the fourth quarter by queuing December 31st confirmations now!
Only using Confirmation.com for certain banks but use other methods such as mail, email and the fax machine for other entities? Confirmation.com provides a FREE Out-of-Network service that allows you to send electronic confirmation requests to any responder you choose.
Using Confirmation.com for just bank and debt confirmation requests? Confirmation.com can be used for AR, AP, investments, lines of credit, derivatives, commercial real estate, mortgage debt and more!
CaseWare Working Papers, CCH’s ProSystem® and Thomson Reuters’ Engagement CS™ each integrate with Confirmation.com to make your confirmation process that much easier.
When several auditors work on a client’s audit engagement, Confirmation.com allows a team to collaborate on audit confirmation requests without a data collision issue.
Organize your client list so that only your active clients display on your dashboard. Confirmation.com also allows you to move inactive clients and their data to an archive page that you can access easily if needed.
Transferring your clients from the person who performed confirmations last year to the person performing them this year will save your team lots of time!
Once you receive all of the client’s confirmation responses, consolidate each confirmation type into a single downloadable report.
Need further explanation on a confirmation? Re-confirmations are easily sent without having to initiate a new one. Plus, re-confirmation requests always go to the top of the responder’s confirmation queue and are treated as a priority.
And we saved the best for last! Stop chasing paper and get confirmation responses in 24 to 48 hours* instead of four to six weeks.
Get a jump start this audit season, register today. Registration is free and easy. Be sure to watch our quick demo upon registration.
* With In-Network responders