Punchcard

What Punchcard Does

Punchcard is an AI-powered assurance platform built specifically for audit firms, risk consultants, and their clients. It transforms the traditional audit workflow by introducing "punchcards"—structured units of audit work that encompass requests, tests, and review steps with full evidence traceability. The platform replaces manual, time-consuming audit tasks with AI-driven automation while keeping professional judgment firmly in the hands of auditors.

Who It's For & Problems It Solves

Designed for accounting professionals conducting financial statement audits, SOC 2 engagements, employee benefit plan audits, and SOX compliance work. Punchcard addresses the core inefficiencies in traditional audit workflows: endless email chains requesting evidence from clients, manual spreadsheet testing, tedious document review, and fragmented workpaper preparation. The platform creates a single system of record where requests are structured, responses are intelligently processed, and audit trails are automatically maintained.

Key Features & Capabilities

• CoAudit AI Agent: An AI assistant that reads audit evidence, extracts relevant fields, performs comparisons and calculations, generates workpapers with full citations, and flags exceptions—all while maintaining audit standards
• Structured Request Management: Send clearly defined requests to clients with specified support types, required fields, and automatic validation when documents don't reconcile
• Automated Testing: Run substantive procedures at scale including revenue cutoff testing, expense sampling, financial statement review (footing/crossfooting, internal consistency checks, prior year comparisons), and lease accounting calculations
• Intelligent Workpaper Generation: Auto-generate workpapers with proper citations, calculation details, and audit trails that meet professional standards
• Engagement Organization: Manage multiple clients and engagement types (financial statement, EBP, SOX, SOC 2, nonprofit, manufacturing) in one centralized workspace
• Collaboration Tools: Real-time activity feeds, file sharing, task assignment, status tracking, and commenting to keep audit teams coordinated
• Compliance & Security: SOC 2 certified with bank-grade security and GDPR compliance options

Typical Workflows

Auditors create punchcards for specific procedures (AR aging, debt testing, payroll verification), send structured requests to clients, and the CoAudit agent processes uploaded evidence—extracting data, running tests, and preparing documented workpapers. Reviewers then validate agent findings, add professional judgment, and mark procedures complete. The platform handles mechanical work like document parsing and arithmetic verification at scale, freeing auditors to focus on risk assessment and judgment calls.

What Differentiates It

Punchcard is purpose-built for the audit profession rather than adapted from general workflow tools. It understands audit-specific concepts like assertions, materiality, and sampling, and generates outputs that meet professional standards. The "agentive AI" approach means the system takes autonomous action on routine tasks while maintaining full transparency and auditability—every finding includes citations back to source documents, and auditors maintain control over final determinations.