AuditMiner is a 401(k) audit software that automates the extraction of data and generation of standardized workpapers, significantly reducing the time auditors spend on data manipulation. By streamlining the Employee Benefit Plan audit process, it eliminates 20-30 hours of manual work per engagement, enhancing efficiency for CPA firms.
Funding
$3.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
CPA firms conducting Employee Benefit Plan (EBP) audits face challenges in efficiently extracting data and generating standardized workpapers, leading to significant time spent on manual data manipulation. This process is often repetitive and time-consuming, diverting resources from higher-value audit activities.
Solution
AuditMiner provides a 401(k) audit software solution that automates the extraction of data and generation of standardized workpapers, significantly reducing the time auditors spend on data manipulation. The platform streamlines the EBP audit process by standardizing data across recordkeepers and payroll providers, enabling consistent processes and training across staff. By automating mundane data-entry and manipulation tasks, AuditMiner reduces costs and allows auditors to focus on critical analysis and risk assessment. The software produces foundational workpapers with integrated recordkeepers, simplifying data input and saving valuable time.
Target Audience
AuditMiner is designed for CPA firms, ranging from sole proprietorships to top 200 firms, that conduct Employee Benefit Plan audits.
Features
- Automated data extraction from standardized recordkeeper reports
- Generation of audit-ready workpapers in a consistent format
- SOC Toolkit to input relevant controls from SOC reports into an easy-to-use workbook
- Standardized data across recordkeepers and payroll providers
- Per-audit pricing model