{"id":313,"date":"2026-07-28T13:58:29","date_gmt":"2026-07-28T08:28:29","guid":{"rendered":"https:\/\/auditconfirm.com\/blog\/?p=313"},"modified":"2026-07-28T13:58:30","modified_gmt":"2026-07-28T08:28:30","slug":"how-open-banking-is-transforming-auditing","status":"publish","type":"post","link":"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing","title":{"rendered":"How Open Banking is transforming auditing"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Bank statements used to be static. They were in PDF or scanned form, or even just numbers saved in time and delivered to the recipient weeks after the fiscal year&#8217;s closing date through either physical mail or email. However, things are changing.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Open Banking and auditing are overlapping, and CPAs who do not recognize that change will find themselves spending more time on their engagements in 2027 than their colleagues.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The simple fact is this: Open Banking gives auditors direct, approved, and API-enabled access to a client&#8217;s financial information. It does not involve a paper trail; there is no need to contact the bank&#8217;s confirmation department, and there are no concerns about whether the PDF has already been tampered with before arriving at the records.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What open banking actually means for audit work<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Open Banking rests on a simple premise. Rather than requiring a document generated from scratch, a customer can authorize a third party to access their financial information directly from the point of origin via an API.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the United States, this principle was enshrined in Section 1033 of the Dodd-Frank Act. The regulation has had an uphill journey. The Federal Court has prohibited the enforcement of the <a href=\"https:\/\/www.congress.gov\/crs-product\/IF13117\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">CFPB&#8217;s Personal Financial Data Rights rule of 2024<\/a>, and the Bureau is currently revising the regulation. However, the momentum has remained constant. In terms of technical infrastructure, Financial Data Exchange, the industry standard setter in this field, has been making significant progress. Regulatory challenges have delayed the timeline, but not the process itself.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In terms of international jurisdictions outside of the United States, the situation has progressed further. The United Kingdom introduced a working Open Banking system several years ago, while the EU PSD2 regulation has brought this method of account access into normalcy within Europe. Certified Public Accountants with multinational clients are increasingly meeting counterparties who expect this form of data access.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Open Banking audit<\/strong><strong> mechanics explained<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Suppose that there is a medium-sized firm keeping its accounts in four different banks. In the traditional audit process, the audit team would send confirmation request letters, wait for the reply, follow up, wait again for the reply, and reconcile all that information to the general ledger. But in the Open Banking audit, the client gives access to the auditor only once, and the auditor gets verified balances, transactions, and account information directly from the financial institutions, with cryptographic proof showing the exact source of that data along with its timestamp.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is not just a small convenience; it changes the entire value of evidence. An amount retrieved directly from the bank system with authentication and a timestamp is completely different in terms of credibility from a scanned letter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How Open Banking improves audit efficiency<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">These efficiency improvements occur in three ways.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">First, cycle time. Confirmations that used to take ten to fifteen business days now come back in minutes. For companies struggling with peak-season workload, this improvement is more than just a formality\u2014it makes all the difference between a team that is up late at night in March and a team that finishes on schedule.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Second, sampling. With inexpensive, fast data pulls, an auditor can check more accounts, not fewer. The risk-based approach changes from managing a finite number of confirmations to proper risk assessment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Third, documentation. Data collected through APIs is metadata-rich\u2014time of collection, financial institution, access permissions. Metadata becomes part of the audit trail automatically, reducing the manual effort needed to create a complete file.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Benefits of Open Banking for auditors<\/strong><strong> beyond speed<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Speed gets all the publicity, but the greater benefit comes from being less susceptible to fraud. A confirmation letter can be forged. However, an API connection secured through a bank&#8217;s security layer is much harder to forge. According to <a href=\"https:\/\/tax.thomsonreuters.com\/blog\/the-state-of-bank-confirmations-2026\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Thomson Reuters&#8217; 2026 prediction on confirmations<\/a>, the new PCAOB standards, along with the digital revolution occurring in banks, make electronic confirmation techniques more common. Indeed, <a href=\"https:\/\/auditconfirm.com\/blog\/pcaob-as-2310-confirmation\/\" target=\"_blank\" rel=\"noreferrer noopener\">PCAOB AS 2310<\/a>, which applies to the audit of public company financial statements as of June 15, 2025, confirms this trend.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Then there is another factor that rarely gets mentioned &#8211; it is about staff shortage. There is a consensus that there is a deficit of around 340,000 professionals within the industry. While it might be possible to fill this gap partially with hiring, it is also possible to compensate with automation. Open Banking helps CPAs spend less time on paperwork and use this extra time on analytical activities requiring professional judgment.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Open Banking vs traditional audit methods<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">When put side by side, the differences become clear. The old ways are document-based or scans, mailing through third parties, and manual reconciliations. While well-known and proven, the methods are slow and can be manipulated.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Open Banking in auditing, however, requires direct and real-time access to data. The new method boasts improved speed and tamper resistance. Still, its effectiveness depends on clear regulation, client permission infrastructure, and the bank\u2019s own API availability, which differs from bank to bank and from nation to nation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">None of the methods is better than the other in all situations. A CPA who audits the client whose bank account is held at a large, API-compatible bank will notice significant improvements. In contrast, a CPA who audits a client with an account at a small regional bank without developed infrastructure will use traditional confirmations. The most reasonable step to take for now is a combined one. The firm that will develop it now will not have to learn it again.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Where this leaves CPAs today<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This does not require any leaps of faith. It requires paying attention to several specific things. Stay on top of the revised Section 1033 rulemaking by the CFPB, since the dates and extent of its application are still being negotiated. Determine whether your clients&#8217; banks have <a href=\"https:\/\/financialdataexchange.org\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Financial Data Exchange<\/a> standards in place. Create confirmation workflows that can include API-based proof if the case allows, but will work just fine otherwise.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The audit industry has already gone through other technological revolutions, from paper ledgers to spreadsheets to cloud-based systems. The advent of Open Banking is the next such revolution in an era where talent scarcity leaves no room for inefficiency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/auditconfirm.com\/\" data-type=\"link\" data-id=\"https:\/\/auditconfirm.com\/\">AuditConfirm<\/a> was designed specifically to make that transition smoother. It provides CPA firms with the fastest and safest way to obtain <a href=\"https:\/\/auditconfirm.com\/product\/bank-balance-confirmation\" data-type=\"link\" data-id=\"https:\/\/auditconfirm.com\/product\/bank-balance-confirmation\">bank confirmations<\/a>, using the same principles of instant, authenticated access to financial data that are driving the revolution within the field.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">FAQs<\/h2>\n\n\n\n<details class=\"wp-block-stackable-accordion stk-block-accordion stk-inner-blocks stk-block-content stk-block stk-d66f0b1 is-style-default\" data-block-id=\"d66f0b1\">\n<summary class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-66f7865 stk--container-small stk-block-accordion__heading\" data-v=\"4\" data-block-id=\"66f7865\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-66f7865-container stk-hover-parent\"><div class=\"stk-block-content stk-inner-blocks stk-66f7865-inner-blocks\">\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-68cfc2c\" data-block-id=\"68cfc2c\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-148f783\" id=\"strong-what-is-open-banking-and-auditing-in-simple-terms-strong\" data-block-id=\"148f783\"><h3 class=\"stk-block-heading__text\"><strong>What is Open Banking and auditing, in simple terms?<\/strong><\/h3><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon stk-block-icon stk-block stk-30f9679\" data-block-id=\"30f9679\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-30f9679\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-30-f-9679-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-30-f-9679-color-2)\"><\/stop><\/linearGradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"chevron-down\" class=\"svg-inline--fa fa-chevron-down fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div><\/span><\/div>\n<\/div><\/div>\n<\/div><\/div><\/summary>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-627478a stk-block-accordion__content\" data-v=\"4\" data-block-id=\"627478a\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-627478a-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-627478a-inner-blocks\">\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-ada87ad\" data-block-id=\"ada87ad\"><p class=\"stk-block-text__text\">Open Banking and auditing intersect when auditors use consented, API-based access to pull financial data directly from a bank instead of relying on paper confirmations.<\/p><\/div>\n<\/div><\/div><\/div>\n<\/details>\n\n\n\n<details class=\"wp-block-stackable-accordion stk-block-accordion stk-inner-blocks stk-block-content stk-block stk-35b31c4 is-style-default\" data-block-id=\"35b31c4\">\n<summary class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-fd520df stk--container-small stk-block-accordion__heading\" data-v=\"4\" data-block-id=\"fd520df\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-fd520df-container stk-hover-parent\"><div class=\"stk-block-content stk-inner-blocks stk-fd520df-inner-blocks\">\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-4b87af6\" data-block-id=\"4b87af6\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-f10c408\" id=\"strong-strong-how-does-an-open-banking-audit-actually-work-strong-strong\" data-block-id=\"f10c408\"><h3 class=\"stk-block-heading__text\"><strong><strong>How does an Open Banking audit actually work?<\/strong><\/strong><\/h3><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon stk-block-icon stk-block stk-e331c5d\" data-block-id=\"e331c5d\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-e331c5d\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-e-331-c-5-d-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-e-331-c-5-d-color-2)\"><\/stop><\/linearGradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"chevron-down\" class=\"svg-inline--fa fa-chevron-down fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div><\/span><\/div>\n<\/div><\/div>\n<\/div><\/div><\/summary>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-bd2a125 stk-block-accordion__content\" data-v=\"4\" data-block-id=\"bd2a125\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-bd2a125-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-bd2a125-inner-blocks\">\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-d79c5ea\" data-block-id=\"d79c5ea\"><p class=\"stk-block-text__text\">In an Open Banking audit, the client authorizes access once, and the auditor retrieves verified balances and transaction data straight from the bank&#8217;s system, with a built-in authentication trail.<\/p><\/div>\n<\/div><\/div><\/div>\n<\/details>\n\n\n\n<details class=\"wp-block-stackable-accordion stk-block-accordion stk-inner-blocks stk-block-content stk-block stk-c11023c is-style-default\" data-block-id=\"c11023c\">\n<summary class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-87aaa40 stk--container-small stk-block-accordion__heading\" data-v=\"4\" data-block-id=\"87aaa40\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-87aaa40-container stk-hover-parent\"><div class=\"stk-block-content stk-inner-blocks stk-87aaa40-inner-blocks\">\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-94fcade\" data-block-id=\"94fcade\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-bb0328f\" id=\"strong-strong-strong-how-does-open-banking-improve-audit-efficiency-for-firms-strong-strong-strong\" data-block-id=\"bb0328f\"><h3 class=\"stk-block-heading__text\"><strong><strong><strong>How does Open Banking improve audit efficiency for firms?<\/strong><\/strong><\/strong><\/h3><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon stk-block-icon stk-block stk-f0608c3\" data-block-id=\"f0608c3\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-f0608c3\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-f-0608-c-3-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-f-0608-c-3-color-2)\"><\/stop><\/linearGradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"chevron-down\" class=\"svg-inline--fa fa-chevron-down fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div><\/span><\/div>\n<\/div><\/div>\n<\/div><\/div><\/summary>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-0a1e703 stk-block-accordion__content\" data-v=\"4\" data-block-id=\"0a1e703\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-0a1e703-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-0a1e703-inner-blocks\">\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-7c7f164\" data-block-id=\"7c7f164\"><p class=\"stk-block-text__text\">Open Banking improves audit efficiency through speed and scale: confirmations that once took weeks arrive in minutes, freeing staff to test more accounts.<\/p><\/div>\n<\/div><\/div><\/div>\n<\/details>\n\n\n\n<details class=\"wp-block-stackable-accordion stk-block-accordion stk-inner-blocks stk-block-content stk-block stk-22f8b2a is-style-default\" data-block-id=\"22f8b2a\">\n<summary class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-eef8040 stk--container-small stk-block-accordion__heading\" data-v=\"4\" data-block-id=\"eef8040\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-eef8040-container stk-hover-parent\"><div class=\"stk-block-content stk-inner-blocks stk-eef8040-inner-blocks\">\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-fc286f2\" data-block-id=\"fc286f2\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-24b9d75\" id=\"strong-strong-strong-strong-what-are-the-benefits-of-open-banking-for-auditors-beyond-speed-strong-strong-strong-strong\" data-block-id=\"24b9d75\"><h3 class=\"stk-block-heading__text\"><strong><strong><strong><strong>What are the benefits of Open Banking for auditors beyond speed?<\/strong><\/strong><\/strong><\/strong><\/h3><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon stk-block-icon stk-block stk-a7f08df\" data-block-id=\"a7f08df\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-a7f08df\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-a-7-f-08-df-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-a-7-f-08-df-color-2)\"><\/stop><\/linearGradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"chevron-down\" class=\"svg-inline--fa fa-chevron-down fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div><\/span><\/div>\n<\/div><\/div>\n<\/div><\/div><\/summary>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-8bc2767 stk-block-accordion__content\" data-v=\"4\" data-block-id=\"8bc2767\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-8bc2767-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-8bc2767-inner-blocks\">\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-06b5aec\" data-block-id=\"06b5aec\"><p class=\"stk-block-text__text\">The benefits of Open Banking for auditors include stronger fraud resistance, since authenticated API data is far harder to falsify than a scanned confirmation letter.<\/p><\/div>\n<\/div><\/div><\/div>\n<\/details>\n\n\n\n<details class=\"wp-block-stackable-accordion stk-block-accordion stk-inner-blocks stk-block-content stk-block stk-68349ae is-style-default\" data-block-id=\"68349ae\">\n<summary class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-4f0f63d stk--container-small stk-block-accordion__heading\" data-v=\"4\" data-block-id=\"4f0f63d\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-4f0f63d-container stk-hover-parent\"><div class=\"stk-block-content stk-inner-blocks stk-4f0f63d-inner-blocks\">\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-e98b88f\" data-block-id=\"e98b88f\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-95e2fa9\" id=\"strong-strong-strong-strong-strong-open-banking-vs-traditional-audit-methods-which-wins-today-strong-strong-strong-strong-strong\" data-block-id=\"95e2fa9\"><h3 class=\"stk-block-heading__text\"><strong><strong><strong><strong><strong>Open Banking vs traditional audit methods: which wins today?\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/h3><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon stk-block-icon stk-block stk-ed0b11c\" data-block-id=\"ed0b11c\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-ed0b11c\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-ed-0-b-11-c-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-ed-0-b-11-c-color-2)\"><\/stop><\/linearGradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"chevron-down\" class=\"svg-inline--fa fa-chevron-down fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div><\/span><\/div>\n<\/div><\/div>\n<\/div><\/div><\/summary>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-920842f stk-block-accordion__content\" data-v=\"4\" data-block-id=\"920842f\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-920842f-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-920842f-inner-blocks\">\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-6c64b25\" data-block-id=\"6c64b25\"><p class=\"stk-block-text__text\">Open Banking vs traditional audit methods is not fully settled yet, since results depend on whether a client&#8217;s bank has built out the API infrastructure to support direct access.<\/p><\/div>\n<\/div><\/div><\/div>\n<\/details>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank statements used to be static. They were in PDF or scanned form, or even just numbers saved in time and delivered to the recipient weeks after the fiscal year&#8217;s closing date through either physical mail or email. However, things are changing.&nbsp; Open Banking and auditing are overlapping, and CPAs who do not recognize that [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":316,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Open Banking Is Transforming Auditing | AuditConfirm<\/title>\n<meta name=\"description\" content=\"Open Banking is reshaping auditing for CPAs. See how Open Banking audit methods compare to traditional confirmation and improve audit efficiency.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Open Banking Is Transforming Auditing | AuditConfirm\" \/>\n<meta property=\"og:description\" content=\"Open Banking is reshaping auditing for CPAs. See how Open Banking audit methods compare to traditional confirmation and improve audit efficiency.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing\" \/>\n<meta property=\"og:site_name\" content=\"AuditConfirm Blog\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-28T08:28:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-07-28T08:28:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/auditconfirm.com\/blog\/wp-content\/uploads\/2026\/07\/open-bankin-in-auditing.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"562\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jane Morgan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jane Morgan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/how-open-banking-is-transforming-auditing#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/how-open-banking-is-transforming-auditing\"},\"author\":{\"name\":\"Jane Morgan\",\"@id\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/#\\\/schema\\\/person\\\/c45ae8a2da9b1a2eefc9af8ad1722c89\"},\"headline\":\"How Open Banking is transforming auditing\",\"datePublished\":\"2026-07-28T08:28:29+00:00\",\"dateModified\":\"2026-07-28T08:28:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/how-open-banking-is-transforming-auditing\"},\"wordCount\":1254,\"image\":{\"@id\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/how-open-banking-is-transforming-auditing#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/wp-content\\\/uploads\\\/2026\\\/07\\\/open-bankin-in-auditing.jpeg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/how-open-banking-is-transforming-auditing\",\"url\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/how-open-banking-is-transforming-auditing\",\"name\":\"How Open Banking Is Transforming Auditing | AuditConfirm\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/how-open-banking-is-transforming-auditing#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/how-open-banking-is-transforming-auditing#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/wp-content\\\/uploads\\\/2026\\\/07\\\/open-bankin-in-auditing.jpeg\",\"datePublished\":\"2026-07-28T08:28:29+00:00\",\"dateModified\":\"2026-07-28T08:28:30+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/#\\\/schema\\\/person\\\/c45ae8a2da9b1a2eefc9af8ad1722c89\"},\"description\":\"Open Banking is reshaping auditing for CPAs. See how Open Banking audit methods compare to traditional confirmation and improve audit efficiency.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/how-open-banking-is-transforming-auditing#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/how-open-banking-is-transforming-auditing\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/how-open-banking-is-transforming-auditing#primaryimage\",\"url\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/wp-content\\\/uploads\\\/2026\\\/07\\\/open-bankin-in-auditing.jpeg\",\"contentUrl\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/wp-content\\\/uploads\\\/2026\\\/07\\\/open-bankin-in-auditing.jpeg\",\"width\":1000,\"height\":562,\"caption\":\"open banking in auditing\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/how-open-banking-is-transforming-auditing#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/auditconfirm.com\\\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How Open Banking is transforming auditing\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/\",\"name\":\"AuditConfirm Blog\",\"description\":\"AuditConfirm\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/#\\\/schema\\\/person\\\/c45ae8a2da9b1a2eefc9af8ad1722c89\",\"name\":\"Jane Morgan\",\"url\":\"https:\\\/\\\/auditconfirm.com\\\/blog\\\/author\\\/simplipixel\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How Open Banking Is Transforming Auditing | AuditConfirm","description":"Open Banking is reshaping auditing for CPAs. See how Open Banking audit methods compare to traditional confirmation and improve audit efficiency.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing","og_locale":"en_US","og_type":"article","og_title":"How Open Banking Is Transforming Auditing | AuditConfirm","og_description":"Open Banking is reshaping auditing for CPAs. See how Open Banking audit methods compare to traditional confirmation and improve audit efficiency.","og_url":"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing","og_site_name":"AuditConfirm Blog","article_published_time":"2026-07-28T08:28:29+00:00","article_modified_time":"2026-07-28T08:28:30+00:00","og_image":[{"width":1000,"height":562,"url":"https:\/\/auditconfirm.com\/blog\/wp-content\/uploads\/2026\/07\/open-bankin-in-auditing.jpeg","type":"image\/jpeg"}],"author":"Jane Morgan","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Jane Morgan","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing#article","isPartOf":{"@id":"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing"},"author":{"name":"Jane Morgan","@id":"https:\/\/auditconfirm.com\/blog\/#\/schema\/person\/c45ae8a2da9b1a2eefc9af8ad1722c89"},"headline":"How Open Banking is transforming auditing","datePublished":"2026-07-28T08:28:29+00:00","dateModified":"2026-07-28T08:28:30+00:00","mainEntityOfPage":{"@id":"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing"},"wordCount":1254,"image":{"@id":"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing#primaryimage"},"thumbnailUrl":"https:\/\/auditconfirm.com\/blog\/wp-content\/uploads\/2026\/07\/open-bankin-in-auditing.jpeg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing","url":"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing","name":"How Open Banking Is Transforming Auditing | AuditConfirm","isPartOf":{"@id":"https:\/\/auditconfirm.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing#primaryimage"},"image":{"@id":"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing#primaryimage"},"thumbnailUrl":"https:\/\/auditconfirm.com\/blog\/wp-content\/uploads\/2026\/07\/open-bankin-in-auditing.jpeg","datePublished":"2026-07-28T08:28:29+00:00","dateModified":"2026-07-28T08:28:30+00:00","author":{"@id":"https:\/\/auditconfirm.com\/blog\/#\/schema\/person\/c45ae8a2da9b1a2eefc9af8ad1722c89"},"description":"Open Banking is reshaping auditing for CPAs. See how Open Banking audit methods compare to traditional confirmation and improve audit efficiency.","breadcrumb":{"@id":"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing#primaryimage","url":"https:\/\/auditconfirm.com\/blog\/wp-content\/uploads\/2026\/07\/open-bankin-in-auditing.jpeg","contentUrl":"https:\/\/auditconfirm.com\/blog\/wp-content\/uploads\/2026\/07\/open-bankin-in-auditing.jpeg","width":1000,"height":562,"caption":"open banking in auditing"},{"@type":"BreadcrumbList","@id":"https:\/\/auditconfirm.com\/blog\/how-open-banking-is-transforming-auditing#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/auditconfirm.com\/blog"},{"@type":"ListItem","position":2,"name":"How Open Banking is transforming auditing"}]},{"@type":"WebSite","@id":"https:\/\/auditconfirm.com\/blog\/#website","url":"https:\/\/auditconfirm.com\/blog\/","name":"AuditConfirm Blog","description":"AuditConfirm","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/auditconfirm.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/auditconfirm.com\/blog\/#\/schema\/person\/c45ae8a2da9b1a2eefc9af8ad1722c89","name":"Jane Morgan","url":"https:\/\/auditconfirm.com\/blog\/author\/simplipixel"}]}},"_links":{"self":[{"href":"https:\/\/auditconfirm.com\/blog\/wp-json\/wp\/v2\/posts\/313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/auditconfirm.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/auditconfirm.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/auditconfirm.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/auditconfirm.com\/blog\/wp-json\/wp\/v2\/comments?post=313"}],"version-history":[{"count":1,"href":"https:\/\/auditconfirm.com\/blog\/wp-json\/wp\/v2\/posts\/313\/revisions"}],"predecessor-version":[{"id":317,"href":"https:\/\/auditconfirm.com\/blog\/wp-json\/wp\/v2\/posts\/313\/revisions\/317"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/auditconfirm.com\/blog\/wp-json\/wp\/v2\/media\/316"}],"wp:attachment":[{"href":"https:\/\/auditconfirm.com\/blog\/wp-json\/wp\/v2\/media?parent=313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/auditconfirm.com\/blog\/wp-json\/wp\/v2\/categories?post=313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/auditconfirm.com\/blog\/wp-json\/wp\/v2\/tags?post=313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}