Verified Transactions

Business transactions independently verified in real-time

Circit is regulated to help you deliver a new standard of quality in client engagements while helping your team to do more in less time.

The new standard

Get 100% of transactions to maximise independence and team productivity

For the first time, auditors can get complete, accurate and verified bank transaction data instantly from client accounts, super-charging evidence quality and fraud risk reduction.

Verify in minutes rather than weeks. Connect directly to client bank accounts for rich transaction data fields, directly from source.
Give clients the convenience of authorising online in a secure application, avoiding manual tasks and follow-ups for missing data.
From matching the GL data to triggering a fraud risk or going concern review, strengthen your audit testing while automating behind the scenes to keep your teams working efficiently.
trusted by leading firms

Advance the profession, save time and elevate the customer experience

3x

Faster Turnaround Time

Staff time reduced by an average of 2.5 hours per bank account, with a range of 20 minutes to 16 hours depending on the use case and the number of transactions. Tasks automated by using Circit:

- Requesting statements from client
- Manual typing of bank data into excel format
- Investigating missing transactions
- Re-reconciling of bank accounts
- Ticking and bashing against source docs
- Follow-up with clients for payee/payer details
- Correcting errors on data entry

1

2.5 Hours

Time Saved Per Client Bank Account

2

Traditional methods of requesting bank statements from clients can take days or weeks. A seamless digital process end-to-end reduces this time by between 50%-90%

100%

Transactions Verified

3

An industry first to be able to verify all company transactions from an independent source, leading to a significant increase in audit quality and a major reduction in the risk of unidentified fraud

‘’The Circit Platform has transformed this area of our audit engagements with clients and counter-parties. Confirming balances and arrangements directly with banks and solicitors is now a seamless process, all within one system’’
Gavin Smith
-
BDO
‘’The Circit Platform has transformed this area of our audit engagements with clients and counter-parties. CThe Circit Bank Confirmations platform has allowed us to move away from spreadsheet trackers and paper requests to one centralised database with digital requests. There is now a standardised approach to all requests and the whole process is now more efficient. Having made the switch in 2019, it has proven to be invaluable during the recent pandemic as clients have seen no interruption or change in the way we work with them through this part of the audit. The platform is very easy to use and even some of our most technology cautious clients have found authorising requests to be straightforward and quick to complete.
confirming balances and arrangements directly with banks and solicitors is now a seamless process, all within one system’’
John Brand
-
Director of Audit & Assurance
TMF Group
Managing the relationship with our auditors across multiple entities can be a major administrative burden. Circit has completely streamlined many of the most painful processes, and it is simple for my team to use.
Sam Sengupta
-
Director of Operations for UK & Ireland
Haines Watts logo
Circit has enabled us to transform the audit confirmation process right across our business.  Simple and easy to use it gives us a central location from which we can manage all requests to all providers for all our clients. For us it is significantly improving request turnaround times, automating the client authorization process and providing us with the independent audit evidence needed.
Angela Chorlton
-
Associate Director
The Circit Platform has transformed this area of our audit engagements with clients and counter-parties. Confirming balances and arrangements directly with banks and solicitors is now a seamless process, all within one system
Kevin Foley Partner
-
Audit and Assurance
AIB continues to look for ways to make our customers’ lives easier through digital transformation. We’re proud to work Circit to enable our business customers to securely authorise audit confirmation requests.  Through the time and paper savings that this will create, we’re delighted to provide a more sustainable and efficient way of processing of audits for our customers.”  
Peter Vance
-
Head of Customer Services
"We’re using the Circit platform for all our requests now, and I’m really pleased with how it's working out – the ability to get electronic authorities has been particularly useful given the current circumstances and I love having everything in one place."
Samantha Day
-
Audit Manager
"Circit has become the backbone of our confirmation request process and we wouldn’t be with out it.  Since investing in the platform we have been able to streamline and standardize the end-to-end process significantly saving time and increasing the quality of our client engagements.With Circit we have visibility of all our confirmation requests in one place and we get the independent evidence we need quickly and directly back from our clients’ banks and other providers. It really has transformed the experience for our clients and us."
Vladimir Kolmakov
-
Managing Partner
Haines Watts logoTMF Group
built for auditors by auditors

Increase audit quality and improve efficiencies

Circit’s verified transactions platform helps firms increase audit quality by delivering real-time, independent evidence directly from source.

Global Coverage
Direct connections to banks and fintech services across the globe to verify the transactions of every business client.
Seamless Process
Streamline time-consuming audit administrative tasks and non-value-adding client interactions.
Centralised View
Complete visibility of all
requests, authorisations and
responses across the firm.
Independent Data
Real-time access to complete and accurate data for every aspect of the audit process.
Client Centric Controls
Secure, digital authorisation process, which can be tailored, by time frame, by account type, and by an entity.
Global Coverage
Direct connections to banks and fintech services across the globe to verify the transactions of every business client.
Seamless Process
Streamline time-consuming audit administrative tasks and non-value-adding client interactions.
Centralised View
Complete visibility of all
requests, authorisations and
responses across the firm.
Independent Data
Real-time access to complete and accurate data for every aspect of the audit process.
Client Centric Controls
Secure, digital authorisation process, which can be tailored, by time frame, by account type, and by an entity.
New insights

Reduce fraud and going concern risk by gaining full insights into cash accounts

From the planning stage, provide your teams with verified data and remove the reliance on client-provided representations for banking payments and lodgements.

Increase confidence when signing audit reports

Transform going concern testing post year-end

Powerful fraud testing capabilities

Circit works with banking partners to deliver additional metadata which is not available on traditional bank statements, further reducing risk and opening up powerful new testing capabilities.

Creditor payments matched to unique accounts

Sales invoices and GL reconciled to bank

Debtors recoverability tested to post year lodgements

Enhance client confidence and reduce their workload with state of the art data transfer capabilities for highly sensitive information.

Board members protected with independently
verified transactions

Automated bank data removes the need
for continuous back and forth

Additional assurance with coverage for the full
year and post year-end

circit connect

Developer Friendly APIs

BESPOKE INTEGRATIONS

Using Circit's developer portal, APIs and modern webhooks means you can leverage the latest technologies without the risk and cost of maintenance.

Download Technical Data Sheet

regulator approved

The only directly regulated Open Banking audit platform, meaning you don't have to be

INTERNATIONAL STANDARDS

Circit's platform meets the highest international security certification standards to help your firm reduce compliance costs and keep client data in a more secure environment.

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INDEPENDENTLY REGULATED AND CERTIFIED
INDUSTRY ACCREDITED
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