“Embrace it…you’d be silly not to,” says Eugene Smarrelli, Managing Partner Banks Group Pty Ltd, to audit firms embarking on their digital transformation journeys.

Banks Group is an accounting and advisory service that encompasses tax strategies, audit, forecasting, financial planning and funds management. With offices in Sydney and Melbourne, Banks Group represents some of the most exciting businesses and industries in Australia.

Before implementing Confirmation, Banks Group was relying on postal services to send and receive confirmations. The firm was impacted by significant time delays leading to mounting pressure on employees and disgruntled clients.

Beginning 2023, Banks Group digitally transformed their audit confirmation process using Confirmation. The goal was to optimise and simplify the audit confirmation process without compromising on security. 

Confirmation made the process seamless and secure by removing the need to mail confirmations, call clients to convince them to complete the process, and secure confirmations.

Confirmation made the process more direct and “made life so much simpler” says Smarrelli.

The firm recorded a significant increase in organisational efficiencies with Confirmation and stated that the platform removes all the worry and pain associated with the audit confirmation process.

Smarrelli says, “It makes the audit process so much more efficient and ensures that the auditors are not wasting time chasing people.”

About Confirmation

Over 1.5 million users, 16,000 audit firms, and 4000 banks and departments worldwide trust Confirmation to validate data and identify fraud. It is the only platform that allows auditors to send multiple types of confirmation. Nine out of 10 auditors consider the platform easy to use, and also get robust customer support and ongoing training.

With services that are up to industry standards, Confirmation passes hundreds of security audits each year. The platform puts data security first, reduces the confirmation process to an average of two days, and cuts costs in half (versus the cost of paper).

Connect with us to see how Confirmation can infuse agility, velocity, security, and confidence into the audit process.