Terms of Use

Last updated: February 2026

1. Service Description

Note Ticker provides AI-powered financial statement comparison tools designed to assist audit professionals. The service compares current and prior year financial statement notes against supporting documentation and generates reports identifying matches, discrepancies, and areas for further investigation.

Note Ticker is a comparison and time-saving tool. It is expressly designed to assist — not replace — the professional judgment of a qualified auditor.

2. What Note Ticker Does

Note Ticker saves significant time on the comparison exercise — typically 10–20 hours per engagement — by automating the cross-referencing of financial statement notes against prior year figures and supporting documentation. The Excel output is a detailed springboard to help auditors identify areas of risk, including changes that a junior auditor might otherwise miss.

It is a starting point for the auditor, not an end point. Rigorous review of the output by the audit engagement team remains essential.

3. What Note Ticker Does Not Do

By using Note Ticker, you acknowledge and agree that the tool does not:

• Determine audit objectives. The auditor must determine the objective of each audit test, the results required, and whether disclosure complies with IFRS or other applicable accounting frameworks.
• Determine further audit procedures. Where discrepancies or differences are identified, the auditor must exercise professional judgment to determine the appropriate follow-up procedures — including whether additional disclosure is required or whether changes are non-compliant.
• Assess compliance with accounting framework changes. Note Ticker assumes prior year notes were compliant. The auditor must independently consider whether changes in accounting standards or new requirements have been adopted correctly in the current year.
• Replace audit documentation. The auditor remains responsible for documenting: the objective and scope of the note-ticking test; how the AI output was relied upon and spot-checked for reliability; follow-up procedures performed on identified differences; and the conclusion reached as to the appropriateness of the disclosures.

4. Limitations

Note Ticker is designed to handle the majority of financial statement note content, but certain content types fall outside the tool's current capabilities or may produce unreliable results:

• Complex and nested tables. Highly structured tables with multiple levels of nesting, merged cells, or non-standard layouts may not be ticked accurately. Auditors should manually review these sections.
• Diagrams, charts, and graphical content. Note Ticker processes text and tabular data. Diagrams, flow charts, and other purely graphical disclosures are not compared and will not appear in the output.
• Directors' emoluments. Directors' remuneration tables are complex in structure and Note Ticker may struggle to reliably compare these. We recommend manually ticking directors' emoluments disclosures.
• Poor quality source documents. Scanned or low-resolution PDFs may result in reduced accuracy. Where possible, use digitally-generated PDFs for best results.
• Multiple comparative years. Note Ticker is designed to handle AFS with a single comparative year. Financial statements that present two or more comparative columns are not currently supported and may produce unreliable results.
• Restatements. Note Ticker does not handle AFS where prior year figures have been restated. Where a restatement has occurred, the comparative figures will differ from the previously published AFS and the comparison will not be reliable. Auditors should manually tick restated disclosures.

We are continuously improving Note Ticker's capabilities. If you encounter a content type that is not handled well, please let us know.

5. Professional Responsibility

Note Ticker does not constitute professional audit, accounting, or legal advice. All outputs must be reviewed by a suitably qualified professional. The auditor retains full responsibility for:

• The accuracy and completeness of the audit work performed;
• Determining whether the financial statements comply with applicable accounting standards;
• All professional judgments made in the course of the engagement;
• The final audit conclusion.

6. Limitation of Liability

Note Ticker is provided on an "as is" basis. To the fullest extent permitted by law, Note Ticker is not liable for any direct, indirect, or consequential damages arising from your use of the service, including errors in analysis outputs or reliance on those outputs without appropriate professional review.

7. Contact

For questions about these terms, please contact us at hello@noteticker.com.