AB-Compliance is part of the AB-Suite of products that helps an Auditor to generate the financial statements required for a company to comply with the annual regulatory reporting. AB-Compliance takes the trial balance as the input and generates the following regulatory financial statements:

• Balance Sheet
• Income Statement / Profit and Loss Account
• Directors Report
• Management Report
• Chairperson Statement
• Internal Auditor’s Report
• Statement of Financial Position
• Statement of Profit and Loss
• Changes in Member’s equity
• Statement of Cash Flows
• Notes to Financial Statement

AB-Compliance ships with a set of templates for each of these financial statements so that auditors can start off the audit process the moment the application is available to them. Additional templates can be created by the auditors at the global level or be purchased. Auditors can have separate templates for each client and can use these for a specific audit. Templates can be modified for an audit or for a client.

Financial Statements can be generated at each stage of the audit and cheeked, corrections can be made to the trial balance by passing journal vouchers, changes can be made to the  explanatory statements of the reports before the a final version of the statement can be generated in a PDF or Rich Text Format (compatible with most word processing software) format.

Using AB-Compliance to generate financial statements offers auditors and their client several benefits like -

• The ability to cope up with frequent changes in financial regulations by governments
• The ability to make make minor modifications to financial statements due to notifications on existing existing regulations 
• No overhead in deploying the AB-Compliance as its available as a service (unless you have opted to have it installed in-house)
• Capability to handle most time of financial statements with reasonable limits on payload of content that can be transmitted over the network.