Confirmation.com earns Canadian patent for audit confirmation platform
Confirmation.com, which provides secure audit confirmation services, has been awarded a Canadian patent for its online audit confirmation technology by the Canadian Intellectual Property Office. This adds to the company’s six U.S. patents already in hand.
The newly patented technology automates audit confirmation requests over the Internet. The platform is designed to help accountant auditors and third-party responders such as banks, companies, and law firms manage all audit confirmation requests from a single platform.
“Confirmation.com automates a process that’s been very manual for over 100 years,” said Brian Fox, founder and president of Confirmation.com, in a statement. “Our service typically saves an accounting firm’s audit staff about 50 percent of their time spent processing confirmations. This makes accounting firms and third-party responders more efficient and protects them against fraud.”