UK accounting body selects Australian software platform
The Institute of Chartered Accountants for England and Wales (ICAEW) has accredited the IFRS SYSTEM automated financial reporting and accounts software production from privately-owned Australian company, Sydney-based IFRS Systems Pty Limited.
The IFRS SYSTEM, a software as a service (SaaS) application used by professional services firms, is the flagship product of the company, which has been developing and producing software for more than 10 years.
Managing directors of IFRS, Michael Berrington, said that his company was proud to have been selected by ICAEW.
"After thorough examination and intense scrutiny IFRS SYSTEM has been judged worthy of ICAEW accreditation," he said.
"It wasn't that many years ago that we were being told that statutory reporting and accounts production was too complex or too difficult to automate. Here we are today with an application that not only automates the process but has won innovation... and has earned ICAEW accreditation."
The accreditation is the first step in IFRS' plans for international expansion which includes Hong Kong, Singapore and the UK.
Recommended for you
A Victorian accounting firm – in which Count holds a 40 per cent equity stake – has announced the acquisition of an accounting client book through a $1.4 million transaction.
Australian Ethical has reported its net profit after tax (NPAT) fell 15% to $9.6 million for the year ended 30 June, while its underlying profit after tax (UPAT) declined 7% compared with the year prior, to $10.3 million.
Insignia Financial has announced a 59% increase in its underlying net profit after tax (UNPAT) to $234.5 million in FY22.
Having completed their educational qualifications, those advisers who remain in the industry are reporting being “run off their feet” with new clients.
