Last Updated: 02/27/2014
NASHVILLE, TN and Melbourne, Australia - February 27, 2014 - Confirmation.com, the creator and world's leading provider of secure online audit confirmation services today announced Confirmations Asia Pacific as its new partner in the Asia Pacific region. Under this agreement, Confirmations Asia Pacific will offer the Confirmation.com service to financial institutions and accounting firms throughout Australia, Hong Kong, Malaysia, New Zealand and Singapore.
Currently, the process for requesting and responding to audit confirmations in the region is manual and inefficient, with auditors sending paper-based confirmations to financial institutions because there isn’t a better way.
Through this partnership, Confirmations Asia Pacific will provide financial institutions with a more efficient process for responding to audit confirmation requests. Additionally Confirmations Asia Pacific will offer auditors a more secure process as well. The value to auditors is that Confirmation.com validates the identity of a financial institution that responds to audit confirmation requests. This saves tremendous time, and more importantly brings greater integrity to the process of validating cash on hand and debt within financial statements.
"No solution currently exists in the Asia Pacific region for financial institutions and accounting firms to manage the audit confirmation process from end-to-end," said Natalie Lewicki, CEO of Confirmations Asia Pacific. "Confirmation.com brings together auditors, banks and their shared clients in a single service to enhance the quality and delivery of the audit confirmation process."
“Confirmation.com is a proven global market leader and we are excited to bring their secure and efficient online audit confirmation service into the Asia Pacific region as part of our partnership,” said Tony Hallam, Chairman of Confirmations Asia Pacific.
"With Confirmation.com, any financial institution that responds to audit confirmation requests will experience a more efficient, paperless process and be able to provide quicker responses," said Dave Malone, senior vice president of Confirmation.com. "Instead of managing paper, accounting firms will appreciate a streamlined process, more accurate responses and the increased ability to detect financial statement fraud through Confirmation.com."
"The Asia Pacific region is an important market for our company," said Chris Schellhorn, CEO of Confirmation.com. "With the propensity for fraud and the magnitude of those frauds both increasing on a global scale, we are committed to expanding our presence in this region and throughout the world."
In addition to the Confirmations Asia Pacific partnership, the company has signed agreements with CQS Technology Holdings in South Africa and Asa Makina in Turkey. The company also continues to add bank responders to its network in Canada, Europe, the Middle East and Africa.