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Auditflow has announced a new strategic partnership with GAAP Consulting, under which GAAP’s audit content and methodology will be integrated into Auditflow’s cloud-based software.
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Auditflow partners with GAAP
25 March 2015
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8 minute read
In a statement, the audit software provider said the integration could improve practice productivity, compliance and the audit process for all financial audits in Australia.
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With a new SMSF module due in May, followed by new modules for trust accounts, not-for-profits and small audits, Auditflow said the integration will dramatically cut the time it takes accountants to create and tailor audit files by intelligently building and customising the audit file, audit plan, workpaper index, lead sheets and workpapers.
Auditflow chief executive Rich Neal said “we are providing accounting firms with content, methodology, technology and innovation to improve productivity and compliance".
"Our clients save time on audits,” Mr Neal said.
Colin Parker, head of GAAP Consulting (and a former head of accounting and audit policy at CPA Australia and group audit manager at PKF), said a large proportion of GAAP’s business in Australia involves working with accounting practices that perform audits.
“We provide them with guidance, content and methodology for best practice auditing. The GAAP Consulting team’s combined significant experience and knowledge will now be available in Auditflow as ‘modules’ for all types of audits in Australia,” Mr Parker said.
"Our significant expertise in auditing standards, managing audit risk, and training will contribute to driving both audit quality and efficiency through a leading-edge software platform," he said.
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