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Financial Audit

Substantive testing, prepared and documented.

Reconciliations, samples and support tied to every item, so the team spends its time on judgement.

Tarsal Distribución · Sales cut-off testFictional data

Sales cut-off test

60 invoices between 15 December and 15 January

InvoiceDateAmountDelivery noteCut-off
FV-25-117918 Dec€12,48017 DecCorrect
FV-25-118322 Dec€3,91522 DecCorrect
FV-25-118730 Dec€48,2008 JanOut of period
FV-26-00043 Jan€7,6502 JanCorrect
FV-26-00119 Jan€2,310No supportMissing support
€48,200 recorded in December and delivered in January.Decision needed

The challenge

Where the time goes in a financial audit.

  • Manual reconciliations

    Ledgers, statements and sub-ledgers matched by hand.

  • Scattered support

    Invoices, contracts and delivery notes spread across folders and inboxes.

  • Samples that never end

    Every selected item means finding and reviewing its support.

The evidence

The sources of a financial audit.

Prufy works from the accounting records and documents your team already receives.

  • Accounting and ERPGeneral ledger, journal and sub-ledgers
  • Invoices and contractsThe support behind each item
  • Bank statementsBalances and movements for the period
  • EmailConfirmations and clarifications

The outcome

Tests documented with their support.Every sampled item linked to its document and every difference explained, ready for the audit file.

How the work is shared

You direct. Prufy executes.

You directPrufy executes
  1. 01Materiality and significant risksYou direct
  2. 02Selects the sample using your criteriaPrufy executes
  3. 03Sampling criteriaYou direct
  4. 04Finds the support for every itemPrufy executes
  5. 05An assessment of every differenceYou direct
  6. 06Reconciles balances and movementsPrufy executes
  7. 07Judgement on estimatesYou direct
  8. 08Flags differences with their sourcePrufy executes

Digital specialists

A specialist for every substantive test.

Examples. Each team works with the specialists its methodology calls for.

Bank reconciliation

Book balances against statements and items in transit.

Vouching

Every sampled item with its invoice, contract or delivery note.

Period-end cut-off

Sales and purchases recorded in the period they belong to.

Your audit intelligence belongs to you.

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Designed around ISO/IEC 27001, ISO/IEC 42001 and SOC 2 and ready for certification.