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Save 70+% of time & effort in annual audit assignments through extensive automation of audit and compliance activities.
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Audit Automation for Mid Size CA's
We help Chartered Accountants unlock their true potential
- Automated Ledger Scrutiny
- Generation of Financial statements in a jiffy
- Automated Ageing & Ratio Analysis for Revised Schedule III
- Seamless framework with built-in templates for Compliance with Auditing Standards
Introduction
Use Cases
Why Assuerai ?
Delight your clients with a quick turn around time
Ledger Scrutiny, Ageing Analysis and Financial Statements at the click of a button
Multi-division statements consolidation in-a-jiffy
Query and document tracking through a unified interface
Multi-division statements consolidation in-a-jiffy
Query and document tracking through a unified interface
Improve the quality of work for your team
In-built validations and automation reduce cumbersome manual work and rework
Cloud-based tool provides flexibility to conduct a remote audit and work from home
Work-load predictability through well-planned tasks, including follow-ups
Cloud-based tool provides flexibility to conduct a remote audit and work from home
Work-load predictability through well-planned tasks, including follow-ups
Impress the
regulator
Ensure compliance with Auditing standards through template-driven Audit workflow
Produce error-free output through automation
Produce error-free output through automation
We are 100% committed to your success
AssureAI’s Customer Success Commitment is a set of promises for you from us.
You will be able to get what you need and when you need it.
You will be able to get what you need and when you need it.
Free Online training till all features are explored
Immediate access to the latest features with automatic updates
Periodical Webinars on new features
12x6 Ticketing and Chat support
Features
Financial Statements
Recent amendments to Schedule III of the Companies Act have made the preparation of financial statements an extremely complex task.
AssureAI helps in the effortless generation of Statutorily compliant financial statements rich in disclosures, in a fraction of the time it otherwise takes.
AssureAI helps in the effortless generation of Statutorily compliant financial statements rich in disclosures, in a fraction of the time it otherwise takes.
Ageing Analysis
Revised Schedule III calls for multi-tiered ageing analysis for CWIP, Intangibles, Trade Payables and Receivables.
AssureAI enables single click generation of ageing analysis reports in seconds as per the prescribed format.
Also, the mandatory flagging, such as MSME/Non-MSME, Disputed / Undisputed, Secured / Unsecured etc., are accurately captured in the Financial Statements.
AssureAI enables single click generation of ageing analysis reports in seconds as per the prescribed format.
Also, the mandatory flagging, such as MSME/Non-MSME, Disputed / Undisputed, Secured / Unsecured etc., are accurately captured in the Financial Statements.
Ratios
Revised Schedule III also mandates the capture of 11 ratios in the Financial Statements, some of them very complex.
Besides, Tax Audit Report also requires four ratios to be reported in Form 3CD.
AssureAI provides for single click computation of all these ratios and duly incorporates the same along with the financial statements as required by RS III.
Besides, Tax Audit Report also requires four ratios to be reported in Form 3CD.
AssureAI provides for single click computation of all these ratios and duly incorporates the same along with the financial statements as required by RS III.
Comments & Disclosures
Adding ‘comments and disclosures’ to the financial statements is yet another complex task.
AssureAI provides for automated generation of comments and disclosures based on a conditional framework established in the backend.
For example, a ‘Significant Accounting Policy’ on ‘Inventories’ will be included ‘only if there is inventory’ in the company’s balance sheet. This kind of condition-based disclosure enhances the quality of the statements generated and eliminates copy/paste errors.
AssureAI provides for automated generation of comments and disclosures based on a conditional framework established in the backend.
For example, a ‘Significant Accounting Policy’ on ‘Inventories’ will be included ‘only if there is inventory’ in the company’s balance sheet. This kind of condition-based disclosure enhances the quality of the statements generated and eliminates copy/paste errors.
Auto-Mapping
Mapping or tagging the ledgers to pre-defined heads and sub-heads is a vital pain point while making Financial Statements.
AssureAI provides a ‘rule-based’ auto mapping feature that enables automated mapping of ledgers to cover upto 80% of the ledgers in a single click.
Besides, once done correctly, the mapping is saved in the system and seamlessly carried forward for subsequent data imports and periods, thereby reducing repetitive work drastically.
AssureAI provides a ‘rule-based’ auto mapping feature that enables automated mapping of ledgers to cover upto 80% of the ledgers in a single click.
Besides, once done correctly, the mapping is saved in the system and seamlessly carried forward for subsequent data imports and periods, thereby reducing repetitive work drastically.
Multi Division Consolidation
Some clients maintain separate books of accounts for their different business verticals.
Consolidation of separate books into a single Financial Statement is a laborious process taking a significant amount of man-hours.
This process also calls for eliminating the inter-division balances and transactions.
AssureAI facilitates single-click generation of Consolidated Financial Statement combining multiple divisions into a single Financial statement with all necessary notes.
Consolidation of separate books into a single Financial Statement is a laborious process taking a significant amount of man-hours.
This process also calls for eliminating the inter-division balances and transactions.
AssureAI facilitates single-click generation of Consolidated Financial Statement combining multiple divisions into a single Financial statement with all necessary notes.
Automated Ledger Scrutiny
Scrutinizing the books of accounts to identify the risky ledger balances and transactions is another time-consuming process and prone to human errors and omissions.
AssureAI facilitates a Rule-Based framework where the system automatically scans the entire books of account, picks up potential risky ledger balances and transaction vouchers and categorizes them into High, Medium and Low risk items.
AssureAI facilitates a Rule-Based framework where the system automatically scans the entire books of account, picks up potential risky ledger balances and transaction vouchers and categorizes them into High, Medium and Low risk items.
Audit documentation
Ensuring absolute compliance to ‘Auditing Standards’ has become the need of the hour. But the sheer volume of documentation required makes it a daunting task. AssureAI provides a template-driven audit workflow module that facilitates ease of compliance with Auditing Standards with built-in templates. The module is designed in such a way that merely following the flow of the stated activities, the audit documentation can be efficiently completed in the least amount of time.
Task & Team Management
Considering the vast array of services provided by the CA firm, including audit, tax filing, compliances, certifications, etc., generally, CA firms find difficulty in efficiently managing resources to ensure timely completion of assignments within due dates.
AssureAI task management framework is specially designed for CA firms to provide a bird’s eye view of the office assignment progress to enhance productivity.
AssureAI task management framework is specially designed for CA firms to provide a bird’s eye view of the office assignment progress to enhance productivity.
Client Communications
Managing assignment related client communication through E-Mail and chat has always been difficult.
AssureAI contains an ‘Issues’ module where the CA user can raise all the assignment-related queries that the client can answer from their user interface.
Also, there is a ‘Document Request’ feature where all the audit-related papers can be obtained electronically by the CA and permanently available in the cloud, thereby making the audit totally ‘paper-less’.
AssureAI contains an ‘Issues’ module where the CA user can raise all the assignment-related queries that the client can answer from their user interface.
Also, there is a ‘Document Request’ feature where all the audit-related papers can be obtained electronically by the CA and permanently available in the cloud, thereby making the audit totally ‘paper-less’.
