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IRIS brings audit software into the cloud

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21st May 2013
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Mainstream software house IRIS has launched the first ever cloud-based audit solution for UK accountants.

This follows its April launch of cloud tax application suite, IRIS OpenCloud Tax.

Available now, IRIS OpenAudit can carry out audits for UK Ltd companies, allows for entirely paperless audits, can be accessed from any device with a web browser and gives the choice to approve and complete audits from any location.

It offers audit methodology from accountancy support and training provider Mercia and has been developed in conjunction with Australia-based software firm Auditflow.

Pricing starts from £450 for a 10-client limit, with each client allowing one audit file to be produced a year. IRIS then offers a range of client limit breaks, with the cost per audit dropping at each price point. Therefore, many audit firms will pay £20-30 per audit.

OpenAudit features

• Anytime, anywhere access via any web-capable device

• Audit workflow, with a customisable step-by-step guide to completing the audit process

• Full visibility on the progress of each audit job, with live information on audits in progress through a graphical dashboard

• Ability to import a trial balance directly from IRIS Accounts Production or manually import a trial balance

• Multiple levels of staff access – accounts can be restricted, suspended or deleted

• Live summary of unresolved review points on each audit  

• File completion and archive functionality allow completed work to be set as ‘read only’, preventing any accidental changes after audit completion

Source: IRIS

IRIS offers unlimited users and charge per revenue generating unit (i.e. each audit). 

The solution works as a standalone or can be integrated with other IRIS products, with one feature including trial balances being imported and auto-mapped from IRIS Accounts Production into OpenAudit.

Commenting on the product launch, product manager at IRIS Jon Martingale said the product, the result of a years’ development, will have advantages for auditors.

“There will be no need for lots of paper, as the solution allows auditors to complete an audit paperless. Data is synced immediately and can be accessed from any web browser, freeing auditors from the constraints of desktop audit software. 

“With OpenAudit, there is no need for audit firms to schedule downtime to apply software updates, as these can be completed overnight on our end and available when the firm next logs in or with a click of the auditor’s refresh button,” Martingale said.

The firm is trying to supplement the market’s shift towards the cloud, complementing their current desktop solutions with this raft of cloud offerings, he added.

The product also has a dashboard, whereby audit progress can be tracked and approved at any time, alongside summaries of unresolved review points. 

Commenting on the product launch and increasing demand for cloud-based applications, Phill Robinson, CEO of IRIS Software Group, said: “As the government continues to drive forward its plans to increasingly move its interactions online with businesses and professionals such as accountants, we’re committed to provide our customers with the best  choice, and best-of-breed technology, to help them integrate with new ways of working.

"IRIS OpenAudit is the latest milestone in our commitment to offer accountants the benefits of managing core compliance activities in a cloud environment.”

Much of the software house's development work on OpenCloud Tax was devoted into constructing a robust, web-based engine, which will be able to underpin its other compliance applications.

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By Brinsley
22nd May 2013 18:39

IRIS brings audit software into the cloud

This product sounds great but is it limited for UK Limited Companies only or can is available for audit in African Companies. I hope to get feedback or pointers where I can get information on this product.

Brinsley Johnson

 

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By Morlai Kargbo
23rd May 2013 15:07

IRIS OpenAudit

Well done guys - this product sounds great.  Does it cater for charities audit?

Morlai Kargbo

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