This platform automates the review of financial statements by allowing users to upload PDFs, which are then analyzed for compliance with US GAAP, LUX GAAP, and IFRS standards, significantly reducing manual review tasks by up to 90%. It enhances accuracy and efficiency for auditors and accountants by providing automated error detection, compliance alerts, and a comprehensive note library tailored to local market practices.
Funding
Funding not disclosed
Founders
Product
Problem
The manual review of financial statements is time-consuming and prone to errors, requiring significant effort from auditors and accountants to ensure compliance with various accounting standards. This process can be particularly challenging due to the complexity of financial reporting standards and the need for meticulous attention to detail.
Solution
This platform automates financial statement reviews by enabling users to upload PDFs that are then analyzed for compliance with US GAAP, LUX GAAP, and IFRS standards. The software intelligently guides users through each section of the report, providing review guidance based on relevant financial reporting standards and applicable laws. It pinpoints errors directly in the PDF, significantly reducing manual review tasks and enhancing accuracy. The platform also offers a suite of tools to help navigate financial reporting standards and other complexities of the report.
Target Audience
The primary users are auditors, financial reporters, and accountants who need to enhance compliance with financial reporting standards and reduce manual review tasks.
Features
- Upload financial statements in PDF format for automated review.
- AI-assisted review feature that guides users through the review process and automates verification tasks.
- Comprehensive note library with illustrative disclosures compliant with US GAAP, LUX GAAP, and IFRS, including country-specific best practices.
- Compliance alert feature that scans documents for missed disclosures, inconsistencies, and errors.
- Review Tracker that compiles a detailed checklist of reviewed items.
- Mapping Validator that scrutinizes the mapping of balance sheets and profit and loss statements using user-provided trial balances.
- Sum Select tool for performing instant calculations on selected figures directly within the PDF.
- FS Validator that automatically reviews the accuracy of figures in the balance sheet and profit and loss statement.
- Audit Mark tool that allows users to annotate PDF financial statements with specialized audit tick marks.
- Docu Trace feature for locating all occurrences of a selected text within a PDF.