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What is Punchcard?
Founded in 2023 and based in Provo, Utah, Punchcard is an audit platform from Substantive AI. It organizes evidence requests and uses CoAudit to prepare reviewable, source-linked workpapers.
Punchcard is a collaborative audit workspace built around a structured unit of work called a punchcard. Auditors create evidence requests with selections and extraction fields, clients upload support, and CoAudit reads documents, performs configured procedures, and drafts a workpaper. Each result carries reasoning and a citation to source evidence, while reviewers can inspect, comment, override, validate, and sign off. The workflow covers the request, evidence, procedure, agent output, and review rather than treating them as disconnected files.
The platform combines client requests, evidence collection, substantive testing, sampling, workpaper preparation, financial-statement review, and Excel and Word workflows. CoAudit handles documents such as invoices, contracts, bank statements, payroll, debt agreements, and revenue records, with emphasis on financial and SOX work. Punchcard is not a replacement for auditor judgment: its output requires review, and its published materials do not establish universal accuracy, complete audit coverage, or fit for every methodology.
Punchcard sells through a contact-sales process rather than a published self-serve price list. It is aimed at external audit firms, internal audit teams, and risk consultants that want to retain familiar spreadsheet and document workflows while connecting client evidence to testing. The company says it is based in Provo and serves customers across the country; its YC profile lists a six-person team in 2023, while current headcount is not published.
Key features
Evidence requests
Creates structured, itemized client requests with selections, support types, extraction fields, status tracking, and uploads.
AI substantive testing
CoAudit reads audit evidence, runs procedures, and prepares source-linked workpapers with reasoning and citations.
Sampling workflows
Supports monetary-unit, random, and journal-entry testing workflows described in independent product coverage.
Workpaper preparation
Transforms uploaded evidence into reviewable workpapers and supports familiar Excel and Word processes.
Financial statement review
Provides financial-statement review workflows alongside evidence collection and testing.
Reviewer controls
Lets auditors follow citations, comment, validate, override, and sign off on agent-prepared results.
Security administration
Provides SOC 2 Type II certification, SAML and SCIM SSO, audit logs, MFA, and encryption controls.
Punchcard pricing
Punchcard does not publish plan prices or a self-serve checkout flow. Independent product coverage lists pricing as on request and no free plan; buyers need a sales conversation to confirm scope, implementation, and billing period.
| Plan | Price | What's included |
|---|---|---|
| Custom | Contact sales | Punchcard workspace, evidence requests, audit testing, workpaper workflows, and review features vary by agreement |
Free trial: A demo is available; prospects are directed to request a demo.
Pros & cons
Pros
- Connects client requests, evidence, procedures, reasoning, and reviewer sign-off in one engagement structure.
- CoAudit links findings to source documents so reviewers can inspect the evidence behind a result.
- Supports document-heavy testing across invoices, contracts, bank statements, payroll, and revenue records.
- Excel and Word workflows reduce the need to abandon familiar workpaper formats.
Cons
- Pricing is quote-based, with no public plan rates or self-serve trial.
- AI output still requires professional review and does not eliminate auditor judgment.
- Published capabilities center on assurance and financial-audit work rather than broad GRC compliance management.
- Public plan details do not provide a quantified accuracy guarantee for AI-generated workpapers.
Who is Punchcard best for?
- CPA firms running recurring financial statement or SOX engagements.
- Audit teams that want AI-prepared workpapers with inspectable source citations.
- Firms retaining Excel and Word while improving evidence-request and review workflows.
- Risk and internal-audit groups with repeatable, document-heavy testing procedures.
Audit areas
Integrations
Notable customers
Frequently asked questions
How much does Punchcard cost?
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Punchcard uses contact-sales pricing and does not publish plan rates. Independent product coverage also records pricing as on request and no free plan, so buyers must obtain a quote.
How does Punchcard work?
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An auditor creates a structured request, the client supplies evidence, and CoAudit extracts fields and performs the configured procedure. The system prepares a cited workpaper, then an auditor reviews and signs off.
How does Punchcard compare with AuditBoard?
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Punchcard is more narrowly centered on evidence requests, substantive testing, and source-linked workpapers. AuditBoard is a broader enterprise audit, risk, and compliance platform.
What does Punchcard integrate with?
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Published materials describe Microsoft Excel and Word workflows. Security materials name SAML and SCIM connections for Okta, Microsoft Entra, and Google Workspace.
Who is Punchcard for?
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Punchcard is designed for external audit firms, internal-audit teams, risk consultants, and their clients. It is especially relevant for recurring, document-heavy testing.
Is Punchcard secure and accurate enough for audit work?
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Punchcard states that it is SOC 2 Type II certified and uses TLS 1.3, AES-256, SSO, MFA, role-based access, and audit logs. Reviewers remain responsible for validating evidence and conclusions; no independent accuracy score is published.
Sources
Facts and pricing verified on October 19, 2026. Vendors change pricing often, so confirm with Punchcard before buying. How we research
