Timely and accurate account reconciliations provide many benefits. They help ensure the accuracy and completeness of financial reporting, thereby providing confidence to investors, customers and vendors. Assuring internal and external auditors that account balances are properly stated can reduce external audit scrutiny and fees, and potential financial embarrassment and penalties. Account reconciliations improve fraud detection measures, reduce the risk of asset loss and enable internal resources to focus on high-priority areas and initiatives. Account Reconciliation Services are designed to assist companies through all phases of a reconciliation project. They combine proven methodologies with flexible, cost-effective approaches for reconciling high-transaction volume accounts, previously unreconciled accounts, or accounts in arrears with outstanding reconciling items requiring clearing. Account Reconciliation Services further assist companies by ensuring that this critical but often overlooked internal control process is performed on a timely basis.