FAQ | Audit Sight

Frequently Asked Questions

Overview

What is Audit Sight?

Audit Sight is a leading technology platform that eliminates manual work for auditors, diligence and private equity providers by automating financial transaction verification.

What Clients can I use Audit Sight on?

Audit Sight is a suite of testing modules. We know that each client is different so your team can choose which module is a good fit for your engagement. Below is a quick overview to determine if the module is a fit for your client:‍

Bank Balance Verification - Any client who has an account with one of our 11,000 supported institutions, plus your client contact has the appropriate credentials.
A/R Confirmations - Any client who has a material A/R balance. All we need is the A/R aging by invoice the name and email of the contact.‍
‍A/R Confirmations + Subsequent Liquidation - Audit Sight is connected to the accounting system and either connected to the bank(s) or PDF bank statements have been provided.‍
‍Revenue Liquidation - Audit Sight is connected to the accounting system and either connected to the bank(s) or PDF bank statements have been provided.

Integrations

What Accounting Systems are currently supported?

Audit Sight supports QuickBooks Online, QuickBooks Desktop, Freshbooks, Xero, Sage Business Cloud, Sage Intacct, and Microsoft Dynamics 365.

What if my client’s specific bank is not supported by the platform?

You can provide PDF bank statements if your client is unable to connect their bank.
Once the statements are provided, we transform the PDFs into usable data while running the PDF through our Audit Sight Fraud Checker.

What fraud tests do you perform over PDF Bank Statements?

Audit Sight combines algorithmic checks with reviews conducted by fraud specialists to stop fraud in its tracks. We provide suspicious activity alerts that are designed to identify missing pages, inform you when the beginning and ending balances of a statement period do not reconcile with the total value of the transactions captured within that period and flag statements that have been doctored by tampering with a PDF file.

Onboarding & Support

What is the onboarding and implementation process?

Setup is minimal and your firm can be up and running within 24 hours.
All that is required is the signed order form and the name and email of the first user.
Once the order form is signed, your account is assigned an Audit Sight Customer Success representative to conduct your onboarding and training.
Training sessions are conducted via Zoom calls that are recorded and can be sent to any future team members.

How many users can access the tool from my firm?

There is no cap on the number of firm users who can utilize the tool.

What’s the pricing model and commitment?

There is no upfront commitment for Audit Sight. We have a fundamental belief at Audit Sight that we should only be paid when our solution creates value for you, our customers. Our pricing model includes a subscription fee and a usage fee per module that you select to use on your audits. If you don’t use a module then you don’t pay for it. Our platform allows for unlimited users instead of charging per license. You can learn more about our pricing model during our product demo.

Platform Experience

How can I see what my clients are seeing?

Our solution copies your team on all system-generated emails sent to your client so you are always in the loop.
The data connections screen your client views is embedded in each engagement so you have direct insight into what your client is seeing.

How do you prevent emails from going to spam?

We utilize third-party email provider SendGrid to manage our email delivery. This allows us to have industry-leading deliverability and blacklist monitoring of our domain and IP address.
Additionally, your team is copied on the emails so you can reply to messages and resurface them within your client’s inbox.

How often are the results of the tests updated?

The A/R confirmation process is updated in real-time so you and your client are always aware of the status of confirmations.

What do I receive once the verification is complete?

You will receive an account verification certificate and GAAS-compliant workpaper.

Data Security

How does Audit Sight safeguard client data?

One of our guiding principles is data security, which means we continuously invest in safeguarding your data and privacy. Learn more and view our current SOC 2 Type II report at our trust and security page, which provides real-time information on our security and compliance posture.