Auvenir, an accounting and compliance technology provider founded as a
Neeraj Sharma, chief operating officer of Streamworks, said in an interview that Deloitte founded what was then called Auvenir in 2019 to build cloud-based solutions for accounting firms. Although it was owned by Deloitte, it was independently managed. Since that time, the team has developed software for customers that include not just Deloitte but government entities like
"Ultimately, both sides agreed that, because there was continuity because the management team was still there, the customers are in the best hands, and the technology is in the best hands, with us continuing forward [as an independent company]," said Sharma.
Jean-Marc Mickeler, global audit and assurance leader for Deloitte, expressed similar sentiments. "We are proud of what Deloitte and Auvenir have achieved together, and Deloitte believes this is the best long-term path for the company and this team. Streamworks Tech is well-positioned to continue building on its existing strengths under its current leadership," he said in a statement.
While Deloitte will continue to use the solution the team built for the firm, and has a license to do so in perpetuity, Auvenir won't be working directly with the firm at this time. Sharma added that while his team has learned from and leveraged their experiences with Deloitte, their software will draw on their own independent content sources and methodology.
Streamworks Tech will be launching with three core product lines. The first is an engagements solution, its core focus, which is designed for smaller CPA firms performing audit and assurance engagements. It features compilation and review capacities as well as audit client collaboration features. Sharma said this product is currently in beta with an anticipated launch later this year in cooperation with what he said was a major Canadian CPA firm.
The second is an enterprise solution for large organizations, similar to Deloitte, which he said is already being used by Audit New Zealand and is currently being trialed with other public audit offices.
The third is a quality management system that Sharma said digitizes a firm's quality management system according to the relevant standards in each country. He said this has already launched in Canada with 900 customers and just launched in the U.S.
The company has also launched an AI-driven quality management solution in cooperation with
"Firms are doing work in Word and Excel. This AI system actually makes it all readable and doable within the system," he said.
The platform is priced at about $1,700 per year for firms. The company is based in Toronto and employs about 40 people.
"We have always had a laser focus on serving firms, enterprises and the public sector with a clear mission to help professionals navigate complexity with the latest technology tools, including AI, that deliver confidence, compliance and agility," said Streamworks Tech CEO Pete Myers in a statement. "Our dynamic solution has been successfully deployed for audit, assurance and compliance workflows and can now be easily configured for any type of client engagement across many verticals,"
