Tech news: Audit Sight releases Management Meeting Module

Audit Sight, which makes accounting record verification software, announced the release of its new Management Meeting Module made for quality of earnings professionals in M&A transactions. The software allows professionals to identify material account balances and fluctuations over the deal period; surface movements outside normal expectations, using intelligent analysis based on users' designated materiality and standard deviation thresholds so that teams can identify and track potential EBITDA adjustments to discuss with management. Users can prepare data-driven questions for management interviews without "eyeballing" trial balances or combing through thousands of rows of financial data, as the new module will automatically calculate key profitability and efficiency ratios to drive more targeted and informed discussions. The solution is built off Audit Sight's AI engine: FARS (Financial Anomaly Risk Score), an AI model trained by CPAs and informed by millions of financial transactions, which leverages multidimensional pattern recognition to surface unusual entries often buried in raw accounting data. Each transaction is evaluated in context, so users are not just flagging outliers—they're uncovering meaningful financial risks that could impact EBITDA and influence the purchase price.

Abacus, an AI-focused accounting startup, announced $6.6 million in seed funding led by Menlo Ventures, with significant participation from Pear VC and participation from Recall Capital, and Original Capital. The Abacus platform, which just went through its first tax season, automates data collection by pulling from client documents, past returns and standard forms—without a 7216 consent form required—and classifies, reconciles and pushes data directly into CPA workflows for review and filing. The new funding will allow Abacus to expand its use of semi-autonomous AI assistants into the platform, which will learn firm-specific workflows and take on the rote, high-volume tasks that slow teams down. The bots work alongside teams, adapt to how they operate, and scale with their complexity. Abacus is currently expanding its team and hiring across several roles. For more information, visit getabacus.com or email cody@getabacus.com.

Accounting practice management solutions providers Karbon and Ignition announced a new integration that automates the entire client lifecycle, from signed agreement to payment to work delivery. Re-built on Karbon's latest API, Ignition can now automatically sync clients and create work items in Karbon as soon as a proposal is signed in order to reduce onboarding time and eliminate double handling as client setup and work assignment are fully automated… Bookkeeping automation solutions provider Dext, part of the IRIS Software Group, and payments and financial services platform Airwallex announced a new partnership that will enable the launch of Dext Payments later this year, touted as an integrated payments solution within the Dext platform, completing the accounts payable workflow in Dext and offering full automation from invoice upload through to payment. Dext Payments will deliver a single solution for managing supplier and expenses payments, payroll and get paid directly from an invoice. The solution offers enhanced security by verifying suppliers and payment details using data held by Dext. … Compliance solutions provider Sovos and Tungsten Automation, which makes workflow automation solutions, announced a strategic partnership to deliver an integrated, compliant AP solution. The combined solution supports both paper and PDF invoice capture using OCR and AI-powered technology for advanced document processing and connects with supplier portals while integrating with ERP and procurement systems. It provides global tax determination and real-time compliance with e-invoicing regulations. … Practice management solution provider TaxDome launched its new Intake & Delivery functionality, now fully integrated with tax research and automation solutions company Juno. This integration offers a unified tax prep workflow — from proposal to payment — with automation at every step. The software features the ability to send proposals and engagement letters, sent to one or many clients, manually or automated; Juno-powered extraction from W-2s, 1099s, K1s, Schedules C and E, and more, fed directly into tax software; AI-enhanced error checks, flagging and summarization to streamline final review; and returns assembled in minutes with built-in summaries, e-signatures and payment reminders. …  CPAmerica, Inc. welcomed accounting platform Trullion as a new Preferred Provider for the association. Trullion joins over 70 CPAmerica Preferred Providers helping firms modernize their accounting processes.