ICAEW Report
Hon Sec makes a valid point, but bear in mind that Kevin Salter's overall conclusion in this report was:
"There were no areas in the evaluation that gave concern given the target marketplace for this online product. Xero is well designed and well specified for the business market and the company is committed to its future development and enhancement."
Provided a competent accountant is overseeing the use of Xero the risks should be minimised.
These reports all follow a template and the 'limitations' tend to be of varying importnance. Take a look at the equivalent report on Sage 50, for example, where the list is of a similar length.
All the ICAEW Accreditation reports can be accessed at http://www.icaew.com/index.cfm?route=129364
ICAEW report
Hon Sec - can you post the link to the ICAEW report? I can't find it on their site. Thanks :)
Chris
Flawed process - ICAEW Accreditation ....
The ICAEW Accreditation has a number of flaws in the way it operates. However, the most serious of these is the fact that Accredited programs are not 'signed'.
This effectively means that the Accreditation can only ever be valid at the time it is made and sometimes not even then. Without 'signing' it is perfectly possible for the application on release to the public to be completely different to the one tested and in this case the whole process is invalid.
Of course the downside with 'signing' is the effort involved with amendments but this is precicely the purpose of 'signing' - to prevent unknown changes getting slipped into the application under the banner of Accreditation. Unfortunately this is a very costly & time consuming process so will not be adopted under the £5K(?) fee
All ICAEW do is perpetrate the implicit myth that what they have tested is acceptible in the eyes of an accounting body, thereby giving it respectibility by association - although they take no responsibility if it doesn't work
The whole process either needs to be robust, transparent, auditable and accountable or quite frankly it should be scrapped.