Benefits and Features

Auditing has never been easy. Until now.

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Delight your clients with a quick turnaround 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

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

Impress the
regulator

Ensure compliance with Auditing standards through template-driven Audit workflow

Produce error-free output through automation

schedule

Revised Schedule III 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.

Analysis

Automated 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.

Ratio
ratios

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.

Comments

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.

Comments and disclosures
Auto mapping
audit-mapping

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.

multidivision

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.

Multi-division consolidation statement generation
Ledger scrutiny
audit workflow

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.

team management

Audit Workflow

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.

Audit workflow
Task and team management
audit workflow

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.

team management

Client Communications – Issues & Doc request

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’.

Issues & Doc request

More Features

  • Single-click import from Tally and Quick Books (coming soon)
  • Automated Reconciliation of imported data and Version Control
  • SA 530 compliant sample selection for voucher verification
  • Built-in Audit checklists for audit tasks like Tax audits, Company Audits, preliminary checklists, etc. and the ability to configure customized checklists
  • Seamless generation of important 3CD (Tax Audit) Annexures
  • Single-Click Ageing Analysis report for ITC reversal under Rule 37 of GST Rules
  • Expense Variance Analysis Report
  • Keyword Search across the entire books of account, including narration field
  • Final review snapshot – A snapshot view of assignment progress in a single dashboard
  • Client User Interface – Stay connected with clients always – share login credentials to all the clients so that they can perform their side of the audit effortlessly

Simple. Powerful. Affordable.
See it for yourself.