Confirmation of balances with clients and financial institutions

The service "Confirmation of balances with clients and financial institutions" consists of independently obtaining and reconciling written confirmations of account balances, transactions, and credit exposures directly from counterparties and financial institutions. It is designed to validate the completeness, accuracy, and existence of reported financial positions, supporting robust financial reporting, audit procedures, and risk management processes. Through standardized confirmation requests, systematic follow-up, and exception resolution, the service enhances transparency, strengthens internal controls, and reduces the risk of misstatement or fraud in financial information. Submit a request

Strategic Confirmation of Balances with Clients and Financial Institutions in Denmark

In the Danish market, confirmation of balances with clients and financial institutions has evolved from a purely procedural audit step into a strategic assurance mechanism wspporting financial stability, regulatory compliance and stakeholder confidence. Read more.

Case study

Balance Confirmations for a Manufacturing Leader

When a large industrial manufacturing group decided to refinance its operations, the lenders demanded hard evidence that receivables and bank balances were accurate and u...More +

Retail Chain Balance Confirmations Success

A fast-growing retail chain with hundreds of stores across the country faced a persistent problem: vendor ledgers were messy, credit notes were hard to track, and bank re...More +

Tech Firm Balance Confirmations for Investors

A rapidly scaling technology company providing subscription-based software services was preparing for a major funding round. Prospective investors were impressed by the g...More +

Energy Company Balance Confirmations Overhaul

An integrated energy utility operating in generation, distribution, and retail supply faced mounting pressure from regulators, lenders, and rating agencies. Complex billi...More +

What we provide

Scope Definition

We define the scope and objectives of balance confirmations with clients and financial institutions, aligning them with regulatory, audit, and management requirements.

Data Preparation

We collect, cleanse, and standardize account, counterparty, and transactional data to ensure that all confirmation requests are accurate and complete.

Process Design

We design and document an end‑to‑end confirmation process, including roles, controls, timelines, and escalation paths tailored to the client’s operating model.

Technology Enablement

We implement or configure digital platforms and secure interfaces to automate the generation, distribution, and tracking of balance confirmation requests.

Execution Management

We coordinate and oversee the issuance of confirmations to clients and financial institutions, monitoring response rates and proactively addressing bottlenecks.

Exception Handling

We analyze discrepancies and non‑responses, investigate root causes with internal teams and counterparties, and recommend appropriate remediation actions.

Compliance Assurance

We verify that the confirmation process complies with accounting standards, audit expectations, internal policies, and data protection regulations.

Reporting Insights

We provide management with structured reports and analytical insights on confirmation outcomes, control effectiveness, and opportunities for process improvement.

Sustainable Future Through Balance Confirmations in Finance

In modern finance, the seemingly technical process of confirming balances with clients and financial institutions is evolving into a strategic tool for building a more sustainable economy. When a consulting firm supports a company in organizing and e...

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How can we support you?

Confirmation of balances with clients and financial institutions strengthens the reliability of financial statements and supports transparent relationships with key counterparties. The service covers the full lifecycle of balance confirmations, from scoping and outreach to exception handling and audit-ready documentation.

Designing and implementing balance confirmation strategies

A tailored confirmation strategy is developed to align with the client’s risk profile, reporting deadlines, and regulatory expectations. The scope of balances to be confirmed is defined, including trade receivables, payables, loans, deposits, guarantees, and off-balance-sheet exposures. Radner supports the selection of appropriate confirmation methods, such as positive, negative, or blank confirmations, and determines suitable materiality thresholds. Coordination with internal stakeholders, including finance, treasury, legal, and internal audit, is ensured to secure consistent data and messaging. Clear timelines, responsibilities, and escalation paths are established to minimize delays and bottlenecks. The resulting strategy is documented in a way that can be easily shared with external auditors and supervisory bodies.

End-to-end management of confirmation processes

The entire confirmation cycle is managed, from data extraction and validation to sending requests and tracking responses. High-quality, reconciled data sets are prepared to reduce the risk of mismatches and follow-up queries from counterparties. We coordinate secure distribution of confirmation requests via electronic platforms, SWIFT, or traditional mail, depending on counterparties’ capabilities and regulatory constraints. Response rates are actively monitored, and systematic follow-ups are performed to achieve robust coverage of key balances. All communications and responses are logged in a centralized repository to preserve a complete audit trail. The process is continuously reviewed to identify operational improvements and reduce manual effort in subsequent reporting periods.

Analysis, reconciliation, and resolution of discrepancies

Incoming confirmations are analyzed and reconciled against the client’s general ledger and sub-ledgers. Radner identifies discrepancies in principal amounts, interest, fees, collateral, and maturity terms, and categorizes them by root cause. Structured workflows are used to investigate differences, involving relevant business units, relationship managers, and operations teams. Where needed, clarifications are requested from clients or financial institutions to validate disputed items. Adjustments to accounting records are proposed in line with applicable financial reporting frameworks and internal policies. Detailed discrepancy reports are prepared to support management decisions and to provide clear evidence for external auditors.

Governance, compliance, and audit-ready documentation

Robust governance and documentation frameworks are established around the confirmation of balances process. Policies and procedures are aligned with applicable accounting standards, regulatory requirements, and internal control frameworks. We help define roles, responsibilities, and segregation of duties to reduce the risk of fraud or error in the confirmation workflow. Standardized templates, logs, and evidence packages are created to facilitate efficient external audit reviews. Key performance indicators and control checks are implemented to monitor timeliness, coverage, and quality of confirmations. Lessons learned from each cycle are captured and translated into enhancements of controls, systems, and training for future periods.

Why choose us?

Regulatory mastery

We combine deep knowledge of Danish and international regulations with practical experience in confirmations of balances for clients and financial institutions. We design our procedures so that every confirmation fully meets audit, compliance, and local supervisory expectations.

End-to-end control

We manage the full confirmation lifecycle, from data extraction and selection of counterparties to follow-up, reconciliation, and documentation. We use robust, standardized workflows that minimize errors, reduce response times, and ensure complete traceability for every balance confirmed.

Secure relationships

We leverage our established relationships with Danish banks and financial institutions to accelerate responses and resolve discrepancies efficiently. We apply strict security and confidentiality standards, ensuring that all confirmations are handled with the highest level of data protection and professional integrity.

Contact

Need more information? Contact us.