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Complete year-end compliance work faster with Caseware Caseware is a Canadian-born, global provider of audit, financial reporting and data analytics solutions for accountants and bookkeepers. It’s all part of our work to make life better for people in small business and their advisors across Canada.
How have accounts payable automation solutions improved the audit process? Rhonda : We used to dread the audit process. I can run a report, export that to Excel, and tailor it to my journal entry template and get it into the generalledger. When auditors visit, they may spend 2-3 days or more looking at AP disbursements.
It’s 2017 and online commerce has proven that it is not going away. This means every payment is automatically recorded on the generalledger. For large businesses, this includes a dedicated internal audit department looking for security holes, compliance issues, and a lack of audit trail.
The kicker in this is this program, this website, Lender Match, they launched it in 2017. I [00:35:00] don't know the audit process. That's the conflict of interest inherent in auditing. One of early ones in the QuickBooks world was something called Audit My Books. Then, what they did is they turned it off.
They graduated from Techstars Austin in 2017. David, you questioned why- how auditors could possibly have missed this for a decade, because Ernst & Young has been auditing Wirecard for 10 years. Ernst & Young had been signing off flawless audit, unqualified opinion, year after year after year. Cash is easy to audit.
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