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Users

Many CPA firms, private businesses and third parties experience challenges when trying to exchange and access proprietary financial information digitally due to large file size, network security, delays in transit and more. Designed to support these three distinct users, RIVIO offers an advanced digital platform where financial information can be exchanged in a more efficient way. It provides a sophisticated level of security to prevent fraud as well as controls the flow of data to protect all users.

CPA
FIRMS

Third Party
Users

Private
Businesses

 

 

CPA FIRMS


While sharing key financial information between CPA firms and private businesses is an integral part of business operations, the basic methods for exchanging documents have inherent security risks and do not authenticate that information is from a validated source - a CPA firm. RIVIO verifies that a CPA firm is authorized to issue audit and review reports and is adhering to stringent professional requirements.

RIVIO provides a secure platform that puts firms in control of important documents and facilitates a more streamlined, efficient exchange of audit reports and financial statements. By protecting audit reports and other documents issued by a CPA firm from alteration, it serves as a barrier to fraud and potential risks or liability exposure that may result. Furthermore, it helps preserve a firm’s brand, reputation, and keeps third-party users anonymous to CPA firms and prevents the potential creation of an unintentional privity relationship.

Key features for firms:

  • Validates CPA firm licensure, participation in a systems peer review program, and other stringent professional requirements
  • Limits report access to a class of users solely specified by the CPA
  • Protects against fraudulent use of the firm signature
  • Provides recall controls notifying all users that received CPA provided documents
  • Issues notifications to anyone who has received an audit report of withdrawals or changes

Related Videos

Recalling Audit Reports
Users that have received information through the RIVIO platform will receive a notice that it has been recalled. This brings efficiency to the process, and the CPA firm doesn’t nee...
 
Summary of Firm Benefits
A brief overview of all of the benefits Firms receive when using RIVIO.
 

How does RIVIO differ from the current client portals CPA firms offer clients?

We are aware that your firm is already offering your clients access to a portal, where you deliver their completed documents to them. Unlike our current portals, RIVIO provides your clients a single login to communicate with all financial stakeholders.

 

 

 

Third Party Users


Third party users of financial and related information are increasing their focus on the sources of data they receive from private businesses, and many are beginning to require authenticated, source provided documents. RIVIO meets this need by confirming the original source of documents and ensures they are authentic and unaltered. It protects third parties from the use of fraudulent private company audit reports and financial statements, and brings increased levels of confidence on the information they receive through the platform.

The process for third parties to collect key documents can be a time consuming, manual process with little to no transparency regarding the status of requests. RIVIO provides a real-time means to request information and offers visibility into the status of those requests. Once information becomes available, users are notified and can access documents through the platform.

Key Features for Third Party Users

  • Provides an authenticated, unaltered digital document
  • Verifies a validated CPA firm as the source of documents
  • Notifies users when documents are ready to be viewed as well as any withdrawals or changes to those documents
  • Provides an efficient way to request documents from private businesses and track the status associated with the documents

Related Videos

Users of Audited Financial Statements
With the RIVIO platform, users know they are viewing an unaltered set of financial statements that were uploaded by an appropriately licensed CPA firm that’s following professional...
 
The Authentic Document
RIVIO ensures users they are looking at the current version of the document.
 

How RIVIO is different than bank/client portals?

RIVIO is not seen to replace the way in which you conduct communication and document exchange with your clients. Our vision is that the clearinghouse will enhance your communications and improve your operations, while simultaneously providing you with the confidence that the files you request, were truly produced by your client’s CPA Firm.

Bank Portals

  • Designed for bank to client communications
  • Limited system controls governing document and file exchange
  • Potential to create bottle necks in workflow situations
  • Does not validate source of client provided financial documents

Financial Statement Clearinghouse

  • Designed for 3 distinct user groups with features relevant to each
  • Sophisticated controls regarding document exchange (ability to recall, limit access, etc.)
  • Master console capabilities to facilitate sharing of documents
  • Validates and authenticates the CPA firm as the source and ensures unaltered documents are provided to 3rd parties
  • Highest level of security
  • Facilities real-time communication
 
 

 

 

Private Businesses


The exchange of important documents between private businesses and their CPA firm, as well as between private businesses and lenders and investors can create some challenges. Many private companies rely on email, courier services, online portals and document sharing applications. These delivery methods can be inefficient and leave investors and lenders with little confidence in terms of data validity and reliability. There can be also be issues with accessing information involving file size and versions of documents.

RIVIO provides one secure place to store and share information. Through the platform, private businesses can request information, exchange documents with their CPA firm and deliver validated financials to third party users. Firms, private businesses, and the recipients of these documents no longer have to use email or other systems to track down the status of needed documents.

Key features for Private businesses

  • Provides a digital repository to securely collect and distribute financial information
  • Notifies users when new documents are available
  • Notifies users of any withdrawals or changes to an audit report
  • Improves access to capital by bringing increased levels of confidence to lenders and investors

Related Videos

Trends Driving the Need for a Private Company Clearinghouse
Key trends are examined including, the growing need for authenticated information, exploding investment in fintech and the increasing complex regulatory environment for private bus...
 
Security of RIVIO
Security is a part of RIVIO’s DNA, due to the numerous internal and external reviews to ensure security.
 

How does RIVIO differ from the online access private businesses have with both their CPA firm and their bank?

In today’s digital environment, we have many online access points with our financial stakeholders. Keeping track of everyone can be challenging, and lead to confusion and frustration. One of the many reasons RIVIO was created, was to provide a single repository for your financial information that allows you to control who can view those sensitive documents. RIVIO has one login, and stores all of your final financial documents, allowing you to choose who you would like to share them with.

Other ways to utilize RIVIO

Many organizations are using RIVIO to distribute documents to their board of directors and/or shareholders. These documents include:

  • Financial Statements
  • Earnings Reports
  • Audits
  • Budgets
  • Organizational Charts
  • Forecasts
  • And more