The Company has an online portal for Audit Confirmations. This digitized audit confirmation process is a novel service in India, developed especially for the Indian system and laws. The portal is used to by an auditor to examine the accounting records of a client company, a primary audit procedure for verifying the existence of debtors etc., to confirm them directly with the company’s customers.
The firm has an online portal for Audit Confirmations for verification purposes. The online web portal faced serious vulnerability issues to certain risks and frauds. The reason being that it was non-compliant to ICAI Standards.
Moreover, as the company was relying on the physical addresses provided by the client it started experiencing a low response rate of 30% due to unreliability of the channel. This resulted in the lack of assurance of knowledgeable responses and also required a system for follow-ups and verification of address to combat the issues.
EnvisioDevs conducted an exhaustive study of the existing system and charted out a roadmap of designing and developing an application with PHP framework and AWS application service components.
The application was designed on Laravel framework to reduce the time to market.
To prevent fraudulent activities and comply with the ICAI standards, the application was programmed in a where the user and company details could be verified via various government channels and validated fortnightly.
Use DynamoDB to satisfy the dynamic requirements of confirmation responses.
- Better availability: A marked change in the number of clients served concurrently.
- Vulnerability issues: This engagement brought about a change to block the vulnerability issues of risks and frauds.
- Laravel Framework