How Azets gained efficiencies by standardising audit confirmation & transaction level evidence collection

Challenge

Audit Delays

Excel trackers & e-mail threads

Wasted Billable Hours

AZETS Before Circit

Processing and managing paper & email audit confirmations were time-consuming from startto finish. Writing the letter, updating client LOAs, posting to banks, checking for responses & in some cases spending hours chasing banks. All swallowing up valuable billable hours.

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The same experience was had when requesting bank statements from clients. Receiving these in paper or PDF format also created additional processing work for members of the audit team.

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The overall tracking of this documentation, sometimes confidential information, was difficult and visibility for staff was minimal creating an inefficient and unfriendly client experience.

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SOLUTION

Client Experience Improved

Visibility Across All Clients

e-Mail Crossover Removed

WITH Circit

The Circit platform offered a secure, intuitive and user-friendly experience for Azets audit team and clients. A standardised digital approach was applied creating immediate efficiencies across these processes. A single platform now provides visibility and structured steps to allow the audit team to complete tasks with ease.

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The implementation of Circit's took two weeks with a dedicated Customer Success team tailoring training and platform functionality to Azets requirements. With positive feedback from the audit team and clients, Circit has become a long term partner who are developing next generation Open Banking enabled tools to future proof and support Azets’s objective of higher quality audit engagements.

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"Our staff are huge fans of Circit's intuitive platform and as a firm we are delighted with the efficiencies secured. Third-party evidence is a critical element of an audit file, so ensuring that the collection of confirmations and bank transactions is independent and verified has been an important step forward’’
Laura Masheder, Partner Azets
"Working with Laura and the Azets team has been hugely valuable for Circit. Their feedback and collaboration on platform improvements have ensured a constantly  evolving platform. We are also delighted to be trusted  to explore further data and analytics projects with Azets"
Alex Aubrey from Circit

Built from auditors by auditors who understand the nuances that encompass a successful audit the Circit platform enables each stakeholder to complete quality audits quickly and efficiently.

In addition, Circit is supported by direct integrations and partnerships with a global network of evidence providers.

PRODUCTS

Fully automated creation & processing of audit confirmations from banks, law firms and all evidence providers.

Transaction level third-party evidence from banks and fintechs, supercharging audit quality.

Instant Insights to supercharge both the planning stage and going concern status reviews.

Data analytics leveraging Verified Transactions to improve quality & save 17h per engagement.

Legal e-singing of engagement letters and financial statements embedded into your client engagement.

Fully automated creation & processing of audit confirmations from banks, law firms and all evidence providers.

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