401(k) audits have traditionally been slow, error-prone, and difficult to scale. Manual processes required days of work, introduced inconsistencies between auditors, and created significant risk in compliance testing. Now a top accounting firm in the US faced increasing pressure to improve speed and accuracy without sacrificing quality; their solution came with a Shoreless proof of concept.
Shoreless introduced a smarter, faster way to manage audits through:
- AI-Powered Document Processing – Automated extraction and reconciliation across census, payroll, and record keeper files.
- Autonomous Compliance Testing – 15 required compliance tests executed in seconds.
- Human-in-the-Loop Oversight – Ensuring accuracy and maintaining auditor control at critical review points.
- Automated Reporting – Comprehensive, standardized reports with findings, recommendations, and audit opinions.
The results could not have been more apparent in the first use of the Shoreless POC.
- 75% Faster audits immediately, with up to 90% time reduction as adoption scales.
- 99.9% Accuracy in data handling and compliance testing.
- 3x Capacity to handle more client audits without adding staff.
- Precise Financial Impact calculations, identifying even small discrepancies for correction.
By transforming the audit process, Shoreless empowered the firm to deliver faster, more reliable, and more consistent audit results. With reduced manual effort and improved scalability, they can serve more clients, ensure compliance with confidence, and unlock new growth opportunities.
