Tech News: IRIS acquires Thomson Reuters payroll product

October 28, 2022 11:17 AM

IRIS acquires Thomson Reuters payroll product; AuditBoard touts new ESG program management solution; Corvee offers tax planning strategy library; and other news and updates from the accounting technology world.

IRIS acquires Thomson Reuters payroll product

IRIS Software announced the acquisition of myPay from Thomson Reuters (see full story). The purchase is part of a wider strategy for the U.K.-based company to expand further in the U.S., as it complements the company's domestic and international payroll, and HR consultancy. To this end, it has been making several major acquisitions over the past year. Previous to this one, IRIS completed acquisitions of accounting technology providers Conarc, Doc.It and AccountantsWorld.

AuditBoard touts new ESG solution

Cloud-based audit, risk and compliance platform AuditBoard announced a new solution to extend its platform to encompass environmental, social and governance-related program management, called AuditBoard ESG. The solution centralizes ESG data into a single system of record; facilitates evidence collection and reporting; and enables teams to perform materiality assessments. Integration means topics and metrics are checked against common reporting frameworks — including the Sustainability Accounting Standards Board, the Global Reporting Initiative, and the Task Force on Climate-Related Financial Disclosures — to identify gaps and surface overlapping requirements.

Corvee offers tax planning strategy library

Corvee, which makes tax planning software, announced the addition of a free tax savings strategies library to its website, with over 1,500 different strategies. Some strategies can take advantage of tax deductions to lower taxable income, while some use tax credits to reduce tax liability, and others — such as entity and compensation optimization — change one of the many factors that affect taxation. The free library allows tax professionals to learn about each strategy in detail, and is available at www.corvee.com/tax-planning-strategies.

White paper series highlight machine learning and compliance risk for auditors

The Information Systems Audit and Control Association has released a pair of papers collectively titled "The Audit Practitioner's Guide to Machine Learning." The first paper outlines the roadmap that machine learning application follows, as well as the related key risk factors that auditors should investigate. Specifically it goes over things like data governance, data engineering, feature engineering, model training, model evaluation and model deployment/prediction. The second paper explores the key laws, regulations and industry standards involved in data compliance for machine learning auditing. It covers topics like lawfulness, fairness and transparency of person data used in machine learning, data minimization and data security, accountability and governance, and the consumer's right to know.

Gate.io enters agreement with Korean city to support blockchain

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Cryptocurrency exchange Gate.io announced the signing of a memorandum of understanding with the South Korean city of Busan to develop blockchain infrastructure jointly. Busan was approved as a "regulation-free blockchain zone" by the Government of South Korea in 2019. As a result, the city launched an initiative to develop a local blockchain hub and a project to form a digital asset exchange. Gate.io will support the rollout and promotion of the city's initiative to develop the blockchain industry locally; assist in the development, operation, and distribution of the city's stablecoin; help to establish and operate the Busan Digital Asset Exchange and ISMS-certified technical platforms, including order-matching and order-routing engines, digital wallets, and other relevant solutions; and establish a blockchain and digital asset-related education center in the city to bolster the local skilled talent pool.

Other news

Visual Lease, a lease optimization software provider, announced its Premium Implementation Partner program, which will allow users to gain access to leading accounting and advisory firms when implementing Visual Lease's solutions. ... Spend management solutions provider Airbase announced new capacities meant to aid midsized and large businesses. It now sports a customizable workflow builder that captures specific content requirements and routes different spend request types to finance, IT, legal, or other business groups for review, approval, sign-off, or observation; three-way purchase order matching which matches purchase orders, invoices, and item receipts to ensure compliance and create a complete audit trail in NetSuite; and in-product collaboration via @mentions, allowing users to tag team members to receive the clarifications, feedback and answers. ... Center, an expense reporting solutions provider, announced it has completed its Series B funding round with an additional $15 million from existing investors. The closure of the B round brings its total funding to more than $110 million. Additionally, Center also appointed travel industry veteran and CLEAR co-founder and president Ken Cornick to its Board of Directors… Yaydo, a B2B transaction solutions provider focused on the Latin American market, announced the acquisition of payments platform Oyster Financial, a move that consolidates Yaydoo's position as the largest B2B payments solution provider in its region. The combined organization will leverage Oyster's integrations and functionalities to expand its distribution channels, and customer reach.