DealDash recently completed an independent third-party audit by Ernst & Young in accordance with International Standard for Assurance Engagements (ISAE) 3000: “Assurance Engagements other than Audits or Reviews of Historical Financial Information”, issued by the International Auditing and Assurance Standards Board.
The scope of the engagement was to examine the auction records of DealDash to provide assurance that bids on auctions are placed by bona fide users, without the use of bots, shill bidding or bidding by employees. Furthermore, to guarantee winning auctions are fulfilled; and bids are processed in the order received without the element of chance.
The following is taken from the conclusion of the report to the Management of DealDash:
“Nothing has come to our attention that causes us to believe that bids would not have been placed by bona fide users or that the use of bots, shill bidding or bidding by employees would have taken place or that winning auctions would not have been fulfilled (i.e. shipped) or that bids would not have been processed in the order received (e.g. “first in first out” basis) without the element of chance.”
Some of the assurance procedures included:
- User data analysis
- Payment data analysis
- Data analysis of bid history
- Bid data reconciliation against shipment data
- Cross reference of user data to employee information
Auditing is a means of evaluating the effectiveness of a companies internal controls and maintaining such effective systems is vital for achieving a company’s business objectives, reliable financial reporting, preventing fraud, and more.
DealDash is proud to have conducted this audit with Ernst & Young, one of the largest international professional services networks in the world, offering audit and assurance services.
Providing customers with an exciting way to win and discover brand named products is one aspect of what DealDash does. We know our customers have a thousand different choices of where they can shop so providing quality assurance guarantees of good business practice, both with this professional audit and BBB accreditation, is another way to show our commitment to maintain effective business controls and protect our customers.
You can view the final report here: DealDash_EY_Audit
Thinking of giving DealDash a try? Good things to know:
1. If you don’t win an auction, you can Buy it Now to get the item you wanted plus get back all the used bids. We’ll even ship your item for free!
2. Let’s say you buy your first bid pack and don’t win anything. Let us know and we’ll return the bids free for a second chance!
3. If you’re not satisfied with your shopping experience for any reason, we’ll refund your first bid pack purchase – no questions asked. Just be sure to inform us within 90 days of making your purchase by emailing firstname.lastname@example.org.