.png)
Spell-check doesn't work on financial statements.
Half the conventions a reviewer is checking aren't in any dictionary. Entity names with specific casing. LLC vs. L.L.C. consistency across 80 footnotes. A comma after "respectively" in one disclosure and missing in the next. Currency formatting that's right on page 12 and wrong on page 47. Numbers spelled out in the narrative that don't match the figure in the table.
The conventions are real, the standards are firm-specific, and a single inconsistency can pull a reviewer back through pages they've already cleared.
So today, the work falls to people. Senior associates and managers spend hours reading line by line, checking for things that software was never built to catch. On a 150-page report, that's 30 hours of proofreading at the end of an engagement that's already running long.
That's the problem we built Penny to solve.
What Penny does
Penny is Inscope's Proofing Agent. It runs 32 automated checks across every page of a financial statement, covering the four categories that actually matter in this work:
- Spelling and grammar. Misspelled words, subject-verb agreement, sentence structure, the typos that slip past human eyes after the third read-through.
- Punctuation. Comma usage, period placement, quotation marks, parenthetical consistency, list formatting. The stuff that has to match across footnotes and disclosures even when the conventions vary by firm.
- Accounting conventions. Entity name casing, abbreviation consistency, number formatting, date formatting, industry-specific terminology. The checks reviewers spend the most time on, and the ones manual review misses most often.
- Document-wide consistency. Penny doesn't just look at one paragraph. It tracks how a term, a number, or a name is used across the entire document and flags where they drift apart.
The full proofing run takes only minutes.
The reviewer still owns every decision
This is the part that matters most, and the part we spent the most time getting right.
Penny doesn't change anything on its own. Every finding is surfaced inline, highlighted directly in the financial statement, with the original text shown next to the proposed correction. Reviewers accept, reject, or skip each change individually. Or accept all at once, if they want. Or reject all and start over.
Nothing is applied without explicit approval. Cmd+Z works on anything that gets accepted by mistake.
If a reviewer wants something Penny didn't surface, they can ask for it directly. "Capitalize all references to the Company." "Change all instances of LLC to L.L.C." Penny walks through every instance and shows it for review. Need a footnote rewritten for clarity? Type "Make Footnote 3 clearer" and a redlined rewrite appears right where the footnote lives. The reviewer reads it, decides, moves on.
The principle is simple: Penny does the finding. The reviewer does the deciding.
Why this matters now
Busy season is already long. Adding a proofreading round at the end, when partners are reviewing and clients are waiting, is where engagements lose hours they can't get back.
That's time that should be going to the work that actually requires accounting judgment. Not to check whether a comma made it into the third bullet of Footnote 11.
Penny gives that time back.
“Acting as a third reviewer, Penny provides continuous support, including proofreading, from initial financial statement drafting through the second partner final review. This added layer of insight enhances quality, reinforces ATKG's high standards of professionalism, and ensures U.S. GAAP disclosures are properly addressed.” - Matt Howell, Assurance Principal, ATKG
“Every firm has its own document style, and a big part of our internal QC process is making sure the document stays consistent from cover to cover. Penny picks up on those conventions specific to how we present things and not just the grammar, which is exactly what we needed.” - Aric Johnstone, Partner, Williams Marston
See it in action
We put together a short video showing the full flow: running a check, reviewing findings inline, accepting and rejecting changes, and using direct editing to make document-wide updates. It's the fastest way to understand what Penny actually feels like in a real review cycle.
Watch the Penny overview →