Historically, balance sheet certification or general ledger account attestation has been a wholly manual process. More recently however, there has been increased demand for a higher level of process automation, standardisation and enhanced control to the balance sheet substantiation or account certification process.
Frameworks have had to be developed to ensure every general ledger balance has an accountable individual to demonstrate the balance is correct or reasonable. The organisational infrastructure to maintain such ownership and compliance needs to be consistent and robust without diverting management from their leadership responsibilities.
Reduce the Cost and Complexity of Certification
Our attestation product ReKognize™ helps organisations with a high volumes of accounts and/or personnel in the sign-off process. It is used to drive efficiencies, improve transparency and reduce the costs and administrative complexity of balance sheet certification by:
- automatically creating work items to remind owners of sign off responsibilities
- analysing the balances to allow a quick sign-off
- providing users with a fully flexible commentary on why they are happy to sign off
Because ReKognize™ is integrated in our core matching software (AutoRek), we can process all transactions in its reconciliations and appropriately score the underlying reconciliations. This provides even more assurance to the attester and the reviewer on the veracity of the numbers.
Benefits of ReKognize™
- Ownership, accountability and transparency across entire sets of accounts
- Early warning of potential areas and ability to drill down
- Reduced costs and improved control
- Increased process efficiency and visibility
- Consolidated management information reports
- Instant access to balances and P&L exposure across entire sets of accounts
Read More on ReKognize™
Download ReKognize™ from AutoRek - Account Sign-Off and Attestation or Schedule a ReKognize Demo.