Accountant & Advisor Assurance

What financial professionals need to know about mybalancingIQ

Last updated: April 2026

IMPORTANT: This document contains legally material terms including limitations on liability, AI accuracy disclaimers, and your rights as a user. Please read carefully.

Important Disclaimer for Professional Advisors

mybalancingIQ is a decision-support tool powered by artificial intelligence. It is NOT an audit tool, NOT a certified financial analysis platform, and does NOT produce outputs that should be relied upon as substitutes for professional accounting, financial advisory, or legal services. All outputs require independent professional verification before use in client advice, regulatory submissions, lender applications, or investment decisions.

1. What mybalancingIQ Is — and Is Not

What it is:

  • A cloud-based business intelligence platform that processes financial data from accounting integrations
  • A tool to help business owners and their advisors understand financial position and trends
  • A decision-support layer that surfaces insights, flags issues, and generates structured analyses
  • A platform to facilitate more productive conversations between business owners and their professional advisors

What it is not:

  • A certified accounting or auditing system
  • A regulated financial advisory service
  • A replacement for professional judgment, due diligence, or audit procedures
  • A system whose outputs can be used in regulatory submissions, formal valuations, or court proceedings without independent professional verification
  • A system that guarantees accuracy of AI-generated analysis

2. AI Accuracy Limitations — Critical Professional Notice

For Professionals

mybalancingIQ uses AI and machine learning to generate analyses, scores, forecasts, and recommendations. These outputs may contain errors, omissions, or misleading conclusions. They are NOT audited, NOT certified, and should NOT be presented to third parties (banks, regulators, investors) as independent professional analysis.

Professionals using or recommending mybalancingIQ to clients should:

  • Review AI outputs critically and apply professional judgment before acting on them
  • Verify key figures against source accounting records
  • Not present mybalancingIQ reports as independently verified financial statements
  • Ensure clients understand the limitations of AI-generated analysis
  • Consider whether specific outputs are appropriate for the intended use (e.g., bank lending decisions require bank-appropriate documentation)
  • Maintain their own professional standards and obligations independently of any tool

3. Data Integrity Assurances

mybalancingIQ provides the following assurances regarding data handling that professionals may rely upon:

  • Read-only access: We access accounting data in read-only mode and never modify source records
  • Data source transparency: All analytics are derived from the accounting integration you have authorised — we do not fabricate or supplement financial data
  • No data alteration: Source financial records are not modified, reinterpreted, or adjusted by our systems
  • Audit trail: Platform access and data processing activities are logged
  • Data isolation: Each client's data is maintained in isolation and is not accessible to other users

What This Means for Lender Submissions

mybalancingIQ outputs may be useful as supplementary management information or discussion documents. They should not be submitted to lenders or investors as independently verified financial statements. For formal submissions, professionally prepared accounts remain the appropriate standard.

4. Access Controls for Professional Use

Accountants and advisors accessing client data through mybalancingIQ should be aware:

  • Access is granted by the client (business owner) — advisors cannot access client data without explicit client authorisation
  • Advisor access is read-only — advisors cannot modify client data or settings
  • Client data remains the property of the client at all times
  • Advisors should maintain their own records of advice given, separate from any mybalancingIQ outputs
  • Advisor access can be revoked by the client at any time

5. Appropriate and Inappropriate Uses

Appropriate professional uses:

  • Supplementary review tool in client advisory meetings
  • Starting point for identifying areas requiring deeper professional analysis
  • Cash flow trend monitoring and early-warning system
  • Helping clients understand their own financial position in plain English
  • Preparing structured discussion documents for internal planning purposes

Uses requiring caution:

  • Presenting Business Health Scores as certified financial ratings — they are not
  • Using competitor analysis as primary basis for competitive strategy without independent verification
  • Relying on AI forecasts as formal financial projections for external use
  • Using Business Evaluation reports as substitutes for professional business valuations

Inappropriate uses:

  • Submitting mybalancingIQ reports to regulators as audited financial statements
  • Presenting AI outputs to investors or lenders as independently verified analysis
  • Relying on mybalancingIQ as a compliance tool for tax, legal, or regulatory purposes
  • Making significant business decisions based solely on AI outputs without professional review

6. Security for Professional Access

  • All data transmission is encrypted using TLS
  • At-rest encryption protects stored financial data
  • Role-based access controls govern who can see what
  • mybalancingIQ does not store third-party accounting platform login credentials
  • Connections are established via secure OAuth authorisation
  • Platform access is monitored and logged

7. Limitations of Liability

Liability Notice

mybalancingIQ's liability to you and to your clients in connection with the Service is limited as set out in our Terms of Service. In particular: we are not liable for professional reliance on AI-generated outputs without appropriate independent verification; we are not liable for losses arising from decisions made based on Service outputs; and our aggregate liability is capped at amounts paid to us in the preceding 12 months. Professionals have independent obligations to their clients that mybalancingIQ cannot and does not replace.

8. Regulatory & Ethical Independence

mybalancingIQ does not hold any financial services licence, investment adviser registration, audit approval, or equivalent regulatory authorisation in any jurisdiction. The platform is a technology tool, not a regulated financial service.

Professionals using mybalancingIQ maintain their own independent regulatory obligations, ethical duties, and professional standards. Use of this platform does not affect, reduce, or transfer any professional obligation.

9. Contact for Professional Enquiries

Professional and institutional enquiries: dev@mybalancing.com

mybalancingIQ | mybalancingiq.com

Last updated: April 2026