Circit is the first AISP regulated tech company to provide financial auditors with independently verified banking assets and liabilities which are held on their corporate clients’ balance sheets.
The traditional audit processes have led to major failures in the profession and have impacted the wider economy.
Critical audit testing to confirm assets and liabilities with independent sources, such as banks, was manual, paper-based, and often only covered a tiny sample of transactions.
Circit solves this problem by connecting auditors directly to their clients’ banking systems. By building a verification layer across a network of Banks, Solicitors, and Fintech services, Circit allows auditors to perform real-time account confirmations and test 100% of transactions from an independent source. This increases audit quality, reduces fraud risk, and leads to audit staff being trained to a higher standard.
Circit helps audit firms perform higher quality audit engagements, collaborate with clients, and instantly verify assets at source.