Thomson Reuters is a global provider of trusted information, software, and services that help professionals make decisions in complex, highly regulated environments.
Within that broader organisation sits Confirmation, a digital platform that facilitates audit confirmations—those requests from auditors to confirm the accuracy of financial information reported by the audited entity.
Such requests typically come in through traditional channels such as email, text messages, and fax. A study conducted by Forrester Consulting found that these manual confirmations are labor-intensive and lacking in complete accuracy or sufficient speed.
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“In practical terms, Confirmation helps auditors obtain reliable confirmation evidence directly from banks and other financial institutions, covering areas such as cash balances, loans, lines of credit, and other financial relationships,” says Daniel Karlsson, Sales Executive for Thomson Reuters Confirmation in the Nordics.
“It’s surprisingly easy for
companies to doctor bank
statements. Sometimes,
these fraudsters even
manage to coerce a bank
employee to go along
with the fraud”
Daniel Karlsson, Sales Executive for Thomson Reuters Confirmation in the Nordics
Secure infrastructure
While Thomson Reuters isn’t a fintech, its role in the fintech ecosystem is essential, providing a time-tested infrastructure of trust that sits behind financial reporting.
Through Confirmation, the company’s innovation focuses on modernising a process that directly impacts audit quality and financial integrity.
Confirmation utilises digital processes that replace manual, error-prone workflows, as well as a secure network model that connects auditors (requestors) with banks and institutions (responders). It uses a security-first design where validation and auditability are foundational to the platform, not merely an optional add-on.
Confirmation has already uncovered hundreds of millions in fraud
Automated confirmation workflows can save employees up to 60% of their time on average
according to Forrester Consulting, while also helping uncover fraud through Confirmation’s identity verification and auditability practices.
The $2 billion Wirecard scandal is a high-profile reminder of how audit confirmation fraud can damage audit firms, financial institutions and investors. “It’s surprisingly easy for companies to doctor bank statements. Sometimes, these fraudsters even manage to coerce a bank employee to go along with the fraud,” says Daniel.
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Confirmation has been credited with helping uncover several major fraud cases by enforcing identity verification for all parties involved, including the $215 million Peregrine Financial Group fraud, the seven-year multi-million-dollar fraud by James A. Shepherd, and the $160 million China MediaExpress case.
Thomson Reuters and Confirmation in the Nordics
The Nordics have long been at the forefront of digital banking, payments, and customer experience.
According to Daniel, the next phase of fintech maturity in the zone is about industrial-grade trust and resilience, particularly in areas such as security, identity management, data governance, and operational resilience.
“Two forces drive this shift: Rapid AI adoption and a tightening regulatory environment focused on accountability and third-party risk. Financial institutions are expected to move faster while also demonstrating stronger controls,” he says. “We see Confirmation playing a key role here by providing the secure, auditable infrastructure that allows innovation to scale responsibly.”
About
Thomson Reuters® Confirmation helps you respond to more requests in less time in a secure, easy-to use platform. To find out how Confirmation can help you, book a meeting here.
