We're pleased to announce that leading audit, tax and consulting firm RSM UK and Circit have entered a partnership to drive audit quality and efficiency through the Circit Platform’s highly innovative technology, designed to independently obtain audit evidence. RSM UK’s audit and analytics teams will use Circit’s regulated Bank APIs, enabling independent and real-time access to structured, verified bank transactions.
RSM continues to be at the forefront of innovation, through its investment into technology as part of the firm’s digital strategy. By supporting audit teams with the best tools available and automating appropriate tasks, this enables greater focus on high-risk and value adding areas of RSM’s audit work.
Through regulated and real-time access to standardised bank transaction data, RSM will add to its analytics capabilities with a stronger foundation of verified data. The ability for engagement teams to test the ‘bank and cash’ section of audit clients in this way will assist in understanding an entity's cash-flow, form a thorough risk assessment and identify large, unusual and potentially fraudulent transactions.
Konrad Bukowski-Kruszyna, Audit Data Analytics Director at RSM UK noted, “Circit’s capabilities extend beyond just being an open banking provider. Their technology and clear focus in the audit market helps to tailor their offering to exactly what we need as auditors. Our client and auditor user experience has been really positive, helping auditors get to their testing quicker using a foundation of externally validated banking information.”
Alex Aubrey, VP Commercial at Circit, “RSM UK’s commitment to audit quality, efficiency and the audited entities’ experience was clear from day one. We look forward to continuing our collaboration with RSM to leverage each other’s strengths and maximise the use of technology to drive quality and efficiency improvements.”
About Circit
Circit is an audit verification and client collaboration platform that brings together everything you need to confirm asset ownership with third-party banks and fund services providers, as well seamlessly manage PBC request lists for client audits, all in a single platform. Circit’s platform is used by banks, auditors, and businesses around the world to streamline the audit process and reduce the risk of fraud and error.
More about Circit: www.circit.io
About RSM
RSM is a leading provider of audit, tax and consulting services to the middle market. As an integrated team at RSM UK with 4,715 partners and staff operating from 30 locations across the UK, we have a culture of understanding what it means to deliver value, and to value what we do. We have built a strong, sustainable and dynamic firm, where our people are focused on supporting our clients’ by taking the time to truly understand their needs. We provide tailored solutions that help our clients to make decisions about their future, with confidence.
More about RSM UK: www.rsmuk.com
