The #1 Hack for Increasing Productivity During Busy Season: Automating Audit Confirmations

As auditors, busy season is always a challenge – it’s the busiest time of year, and you need every edge to get through it. That's why we've identified the #1 productivity hack that can help you fly through your audits this season: automating audit confirmations.

Confirmations are an essential part of any audit. They are used to verify key details such as account balances and ownership with third parties such as customers, vendors, investors, and legal counsel. While this audit procedure provides a high level of assurance, it can be a major drain on the audit budget, consequently creating lower profitability. Why? Because we often don’t consider how long it actually takes to perform a confirmation. Let’s take a quick look at the manual steps:

1. Get the accounting detail from the client
2. Complete the confirmation template - or ask your client to :)
3. Get the client to sign the confirmation
4. Send the initial confirmations
5. Update the work paper
6. Remember to send reminders…and then actually do it
7. Update the work paper
8. Constantly check your email and update a status tracker
9. Work with your clients on disputed confirmations
10. Perform alternatives procedures on unreturned confirmations
11. Update the work paper
12. A month has passed and you have rotated on to a different client. Pull your hair out! 

Wow, that’s a lot. You can easily see how auditors spend hours manually typing out documents, sending emails, and updating work papers instead of creating value in the audit. This is where automation comes in! By automating the confirmation process, you can reduce the amount of time spent on tedious tasks and focus more on higher-value activities. Here is how we automate confirmations at Audit Sight:

1. Automate drafting confirmations
2. One-click authorization from your client
3. Instantly send all emails and reminders
4. Real time dashboard tracking the confirmation progress
5. Receive auto-generated notifications on disputed or suspicious responses
6. Automatically update and generate the work paper = no more data entry!!!
7. Automate subsequent liquidation for any unreturned confirmations

In short, automation is key when it comes to maximizing productivity during busy season – and Audit Sight makes it easy! With Audit Sight, you can take control of your busy season and finish audits faster than ever before! You'll be amazed at how quickly confirmations can be completed with automation – so don't wait any longer! Take advantage of this productivity hack and start automating today. It's never been easier!

Happy auditing!

Audit Sight Team

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