Punchcard

What is Punchcard?

Punchcard is an assurance workflow system for audit firms, risk consultants, internal audit teams, and their clients. It is designed to structure audit work around a unit called a punchcard: a request, test, or review step containing the selections, evidence requirements, procedures, and traceability needed to complete the work. The product was previously named Agentive and now operates as Punchcard.

The platform combines client evidence requests, AI-assisted testing, workpaper preparation, and financial statement review. Its CoAudit agent reads materials such as contracts, invoices, bank statements, payroll records, debt agreements, revenue documents, and offering memoranda. It extracts fields, performs comparisons, applies audit procedures, and produces workpapers with reasoning traces and citations back to the source evidence. Professional judgment remains with the auditor, who can validate, override, comment, sign off, and export the work.

How to Use Punchcard

1. Send a structured punchcard that identifies selections, required support, and fields to extract.
2. Let the AI agent read the submitted evidence, extract information, run comparisons, and prepare a cited workpaper.
3. Review each result and its reasoning trace, then validate, override, comment, sign off, or export the standardized workpaper.

Core Features

• Structured evidence requests: Gives clients clear per-selection requests and immediate feedback when evidence does not reconcile.
• CoAudit testing agent: Reads audit documents and performs substantive testing, control testing, and contract review.
• Source citations: Links conclusions and workpaper cells to the exact supporting page, line, or paragraph.
• Reviewable workpapers: Supports validation, overrides, comments, sign-off, and standardized exports.
• Financial statement review: Ties balances to the trial balance, checks disclosure coverage, and identifies inconsistencies between notes and figures.
• Audit-focused workspace: Keeps evidence, testing, and review together for external and internal audit teams.

Use Cases

• Substantive testing: Match selected transactions to source evidence and apply procedures with tolerances and tick marks.
• SOX control testing: Test the operating effectiveness of controls with traceable supporting evidence.
• Financial statement review: Check tie-outs, disclosure completeness, arithmetic, prior-year consistency, and cross-section inconsistencies.
• Client evidence collection: Coordinate document requests and feedback across audit firms and clients.

Frequently Asked Questions

Who is Punchcard built for?

The official site identifies external audit firms, internal audit teams, risk consultants, and audit clients as its users.

Does Punchcard replace auditor judgment?

No. The site states that the agent performs mechanical work at scale while judgment, review, validation, and sign-off stay with the auditor.

What evidence can CoAudit read?

Examples include contracts, invoices, bank statements, payroll, debt agreements, revenue documents, and offering memoranda.