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Company Overview

AuditFile is a complete, cloud-based all-in-one audit automation platform for public accounting professionals. Offered in three SaaS subscription options, AuditFile can be scaled to meet the specific needs of firms of all sizes and specialties. AuditFile includes data storage, web training, and technical support in the subscription fee.

AuditFile is peer-reviewed and offers a complete platform for audits, reviews, compilations, agreed-upon procedures, and tax support. AuditFile streamlines the entire attest process. AuditFile intelligently links the trial balance, planning, internal controls, materiality, risk assessment, analytics, fieldwork, wrap up, and the financial statements in one easy-to-use platform.

AuditFile allows auditors to become more efficient by eliminating the confusion and redundancy of other practice aids and intelligently automating the entire process. Each of the audit guides included in the software is peer-reviewed and customized for a particular industry. The audit guidance is designed to maximize audit efficiency best practices and adhere to all peer review requirements.

Collaborate LIVE

AuditFile Collaborate LIVE is a growing new feature set to help remote teams stay connected. The foundation of Collaborate LIVE is the ability for remote teams to view and edit everything in real-time without the need to download or use desktop tools. More specifically, multiple users can access and edit Word, Excel, and PDF workpapers in real-time without creating version conflicts or "lock-out" situations.

  • The ability to live edit PDF files was new in 2020, along with significant improvements and updates to the live edit experience for Word and Excel files on both Mac and PC.
  • Teams will also stay better informed with engagement progress thanks to updated and improved built-in notifications and status tracking tools.

A dispersed team's ability to view and edit workpapers in real-time gives CPAs greater flexibility in creating, editing, and managing work within AuditFile. New features like this will significantly improve how teams stay connected from different locations. When multiple users are editing a file, each can see who else is in the file, as well as any changes or comments as they are made. New capabilities include tickmarks, roll forward, and other customizable annotation tools. These updates are built right into the AuditFile Workpaper Manager for a seamless experience.

The following tutorial videos can be expanded to full screen for optimal viewing by clicking on each video player's full-screen button.

PDF Live Edit
:

Users can now collaborate and edit PDF files (with tickmarks) in real-time! See the tutorial video for more information.

VIDEO: https://vimeo.com/421148441

Microsoft Office Online Editing:

AuditFile features integration with Microsoft Office Online, giving you the ability to create and edit Word (.docx) and Excel (.xlsx) files within the workpaper section of any procedure. To create a new file, simply click on the Word or Excel icons that appear in the workpaper section. Any compatible files you upload will show the live edit link that will automatically launch the online version in a new browser tab. See the tutorial video for more information.

VIDEO: https://vimeo.com/203525710

Microsoft Office Online Editing:

AuditFile features integration with Microsoft Office Online, giving you the ability to create and edit Word (.docx) and Excel (.xlsx) files within the workpaper section of any procedure. To create a new file, simply click on the Word or Excel icons that appear in the workpaper section. Any compatible files you upload will show the live edit link that will automatically launch the online version in a new browser tab. See the tutorial video for more information.

VIDEO: https://vimeo.com/203525710

AuditFile Report Builder

The AuditFile Report Builder is a free add-in for Microsoft Excel 2016+ for Windows, Mac, or Online version. This tool allows you to build your own custom Excel templates for reports, schedules, workpapers, etc. - linking information from the AuditFile Trial Balance. As numbers update in AuditFile, they will also update in your templates. Users can easily add multiple balances together and roll forward balances.

VIDEO: https://vimeo.com/469111736

Key Differentiators:

  • Easy-to-use: AuditFile's intuitive interface requires minimal training, facilitates real-time collaboration, and manages data in ways that dramatically improve and streamline audit efficiency.
  • Cloud-based: Users can work how and when they want, from any connected device.
  • Integrated Workflow: AuditFile links planning, programs, workpapers, and the trial balance in one seamless solution.
  • Straightforward pricing: AuditFile offers clearly priced options to fit your firm's needs.

Highlights and Features:

  • Integration with trial balance data – AuditFile features a trial balance tool that integrates with cloud-based accounting systems, like Xero and QuickBooks Online. Integrating with the auditors’ clients' products allows professionals to pull in data directly from the source and automatically display and classify that data according to flexible parameters set by the firm.
  • An automated financial statement builder with flexible editing/processing features – AuditFile's built-in financial statement tool is designed to create a predefined set of financials with one click automatically. AuditFile also features flexible editing and configuration options that allow the firm to customize the report as needed easily. End users can also save and roll forward report templates for use in another engagement.
  • A built-in library of templates – In addition to the ability to create financial statement templates (note above), AuditFile also features a template library with permission-based pre-set and organization-specific publishing and content management options. Built-in integration with Microsoft Office Online makes it easy for end-users to copy and tailor templates as needed within the cloud environment.
  • Audit automation tools – As a complete audit automation platform, AuditFile offers many key features for audit teams, including flexible review and review comment options, dashboards, sign-offs, locking, and permissions – including limited access restrictions.
  • Integration with other applications – AuditFile's APIs enable flexible integration with various tools, products, content sources, and software applications. As a true cloud-native platform with responsive design, AuditFile offers a seamless user experience across operating systems, browser types, and mobile devices of all sizes and types.

Additional AuditFile Resources

Pricing:

Pricing ranges from $49 - $149 /user/month.

Data storage, web training, product updates, firm setup/configuration, and technical support are all included in the subscription fee.

Awards:

AuditFile, Inc. Contact:

www.auditfile.com

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