Data and BI Designed to Support Public Accounting Firms
Convergence’s data and business intelligence platform reduces the time, complexity and cost to support your key tactical and strategic business decisions. Users can select from our nine services to support their objectives across business development, efficiency and effectiveness and compliance and risk management. Clients that don’t want to interact with a front end can opt for our “Data as a Service” model (DaaS), where you simply identify the business intelligence you want, and we do the rest!
Business Development
Identify and add the right new audit and advisory clients by using our combined data and business intelligence platform. Users can select from over 100 daily alerts that create warm leads or can design custom alerts available through our “DaaS” service model.
Client Acceptance Testing
Improve the quality and consistency and lower the cost of pre- and post-client acceptance testing. Users can access due diligence on 55,000 GPs and 450,000 funds to keep you compliant with PCAOB Rule QC 1000 and AICPA SQCS #8 (paragraphs 27 – 30).
Investment Company Complex
Improve your independence testing on the entities that form an investment company complex (ICC) linked to the funds and Advisers that you audit by leveraging Convergence’s “entity knowledge graphs.” Knowledge graphs identify, monitor and alert you to changes in your ICCs and are consistent with the PCAOB Rules QC 1000.
Client Management
Increase revenues from existing clients and meet the new audit quality standards set by PCAOB Rule QC 1000 by “mining” our data and business intelligence platform. Users can create business profiles of their customers that alert them to changes in their client’s business.
Improving Audit Quality
Improve the quality of your audits by monitoring changes to your client’s business profile and evaluating the additional testing work that the changes may require. Users can create customer profiles and alerts. It’s a proactive way to keep you compliant with PCAOB Rule QC 1000.
Brand Verification and Validation
Protect your brand from being misused by unauthorized third parties by leveraging Convergence’s BVV data and business platform. Users can set up, identify, monitor and report ongoing changes in the use of their name and legal entity identifiers in 35+ US and non-US regulatory filings and stay compliant with AICPA SQCS #8 (paragraphs 27 – 30).
Independence Testing
Improve the quality and lower the cost of your independence testing of staff investments in non-diversified mutual funds and ETFs. Users can create profiles of their audit clients and discover the twenty percent that make inaccurate diversification disclosures.
Reliance on Service Providers
Improve the quality of your audits by creating, standardizing and monitoring the list of service providers impacting your audits. Evaluate how changes to their business can impact your annual audit and keep you compliant with AICPA AU-C Section 402 and the PCAOB Rule QC 1000.
Regulatory Filing Quality
Improve audit quality, increase fees and improve client satisfaction by knowing the quality of your client’s key regulatory filings. Advisers often issue filings with inaccurate data and weak conflict disclosures that can signal data and control weaknesses that may impact your audit.