Automating Financial Statement Procedures with Nexly

Auditors spend a significant amount of time performing manual checks during the financial statement review process. Verifying mathematical accuracy, comparing prior year figures, checking formatting, and reviewing disclosures—these steps are essential, but repetitive and prone to oversight. At Nexly, we’ve built tools to automate these core procedures, helping auditors work faster and with greater confidence.

Common Review Steps—Still Done Manually

• Mathematical Accuracy: Verifying that subtotals and totals are correctly calculated

• Prior Year Comparison: Checking for consistency and proper roll-forwards from the previous year

• Internal Consistency: Ensuring figures tie across the financial statements and notes

• Notes Disclosure Review: Confirming that disclosures are complete, aligned with the numbers, and compliant with standards

Doing all of this manually is time-consuming and error-prone.

Nexly Automates it All

Our platform automates the most repetitive and error-prone parts of the review process:

• Mathematical accuracy checks: We recalculate all totals and subtotals to instantly flag any math errors

• Prior year consistency: Inconsistencies between current and prior year figures are detected automatically, including rounding differences

• Internal consistency: Nexly cross-checks figures between statements and related disclosures, ensuring consistency throughout

• Secure AI for notes: Nexly AI help auditors review notes disclosures by answering any questions regarding financial reporting standards, local laws and regulations.

What Audit Teams Gain

• Time savings: Automate checks that would otherwise take hours

• Fewer review rounds: Catch issues early in the first draft of financial statements

• Reduced risk of oversight: Systematic checks catch what humans might miss

• More time for judgment-based work: Focus on what matters most—risk assessment, estimates, and disclosures

Designed for the Real Audit Process

We didn’t build Nexly as a generic tool—we built it to support the real work auditors do every day. By automating MA, PY, and IC checks, and layering in secure AI for notes, we reduce the manual load while keeping reviewers in control.

See It in Action

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