Tech News IFAC releases new resources for professionals on ISA 540 implementation

Tech News: IFAC releases audit tool

Published April 11, 2022 10:10 AM

Updated April 11, 2022 12:28 PM

1 Min Read

IFAC releases new resources for ISA 540 implementation; Relay offers tax season prizes; QVinci launches new product features; and other news from the world of accounting technology.

IFAC releases audit tool

Photo courtesy of IFAC

The International Federation of Accountants released a new resource, Auditing Accounting Estimates: ISA 540 (Revised) Implementation Tool, to guide professionals through the relevant aspects of enacting the standard. The tool goes over several implementation suggestions users can take, as well as the related considerations. It also works in conjunction with the IAASB’s previously published ISA 540 (Revised) flowcharts showing the requirements flow.

Relay offers tax season prizes

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Online banking and money management platform Relay will be awarding two lucky accounting professionals prize packages valued at $3,442 each in a random drawing. One prize pack is for accountants and the other is for bookkeepers. They include personal items, like headphones, and resources like software or coaching packages. The winner will be announced May 3.

QVinci launches new product features

Cloud accounting software company QVinci rolled out new features in its products. Its existing advisory portal now has enhanced drill-down features that provide more granular data on any item in the P&L or balance sheet columns. It also released nine new automated gallery report templates that provide key performance indicators.

Moving on, moving up

Xero appointed Chris O’Neill as its new chief growth officer. He will be responsible for strategic direction and operational performance within the company’s newly created applications and services division. … Wolters Kluwers appointed Dave Guarino vice president of global communications. It has also appointed Maria Montenegro as its senior vice president of strategy and innovation. … Cloud data company Faction appointed Heather Allen as vice president of marketing and promoted Lauren Rosario to vice president of finance, planning and analysis.

More news

Online marketplace platform Marketplacer announced its product is now integrated with Avalara’s “Certified for AvaTax” program. Users will be able to use Avalara’s program to calculate sales and use taxes in real time within their existing business applications. … E-signature company DocuSign has partnered with accounting automation and integration company Amaka to launch its first official integration with the cloud accounting software provider Xero. Users will be able to use the Amaka portal to automate document signing by syncing Xero documents with DocuSign eSignature for signing electronically, before pushing the finalized document back to Xero. ... Fintech firm Gavity, which offers automation solutions to invoice management, received $9 million in Series A funding led by U.K.-based Flashpoint, with participation by Moneta VC, North First Ventures, TAU Ventures, and LETA Capital.