Confirmation.com Strengthens its International Presence with Strategic Partnership in Turkey
BRENTWOOD, Tenn. and ISTANBUL, July 10, 2012 /PRNewswire/ -- Confirmation.com, the creator and world's leading provider of secure audit confirmation services today announced a reseller agreement with Asa Makina, a provider of information technology products, expertise and service for banks and banking institutions. Under this agreement, Asa Makina will offer a secure, online audit confirmation solution to auditing firms, companies and financial institutions throughout Turkey.
"To compete in today's global economy, businesses have to adopt financial transparency in order to build public trust among investors, government agencies and key stakeholders," said Chris Schellhorn, Chairman and CEO of Confirmation.com. "Auditing firms, banks and companies worldwide see the value of Confirmation.com because the propensity for fraud and the magnitude of those frauds are putting investors and markets at risk."
In response to the evolving global business environment and to align with the international financial reporting and auditing principles, the Turkish Parliament passed a new Turkish Commercial Code that includes the implementation of corporate governance principles for all companies in Turkey. This new code that went into effect July, 1, 2012, requires companies in Turkey to undergo an audit of their financial reports by an independent external auditor.
"With this regulatory change, financial institutions and companies can expect to see a significant increase in the number of audit confirmation requests from independent auditors," said Ata Mermer, general manager of Asa Makina. "Managing the increased volume alone will be a challenge for responding entities, but the greater concern is handling this volume of confirmation requests that are completely manual and paper based in our country. Our partnership with Confirmation.com allows us to provide a more efficient process not only to responding entities, but to auditing firms as well."
With Confirmation.com, any business, financial institution or organization that responds to audit confirmation requests will experience a more efficient, paperless process and be able to provide quicker responses. Instead of managing paper, auditing firms will like the streamlined process with Confirmation.com and the ability to easily validate the identity of the bank or company that needs to respond to an audit confirmation request.
The company continues to expand its international footprint with signed reseller agreements with CQS Technology Holdings in South Africa and Task Technology in Australia. The company also continues to add bank responders to its network in Canada, Europe, the Middle East and Africa.
Confirmation.com is the creator and world's leading provider of secure electronic audit confirmation services. It processes over $1 trillion in confirmation information annually for a majority of public companies, as well as private companies, non-profits and government agencies. In addition to its bank confirmation solution, the company provides solutions for more than 30 different types of audit confirmations including accounts receivable confirmations. Confirmation.com is the Preferred Provider of Electronic Confirmations for the AICPA Trusted Business Advisor™ Solutions Program and is endorsed by the American Bankers Association. Confirmation.com has also received numerous awards including being a multi-year alumnus on the Inc. 500 list for 2010 and 2011. Several hundred In-Network responding companies including all of the Top 10 banks in the U.S. and over 8,000 accounting firms in more than 100 countries trust Confirmation.com for their audit confirmation needs. For more information, visit Confirmation.com.
About Asa Makina
Asa Makina is a provider of hardware, software and service solutions to major banks and commercial companies via distribution agreements with various international firms. Its product portfolio includes various banking related electronic equipment including but not limited to ATM machines and software, money counting, currency exchange test machines, and security detectors. With its 140 employees, Asa Makina also offers service solutions for its product portfolio.
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