Audit software company Auditflow has forged a strategic partnership that will see its cloud-based auditing facility made available to users of SMSF accounting and administration software specialist BGL Corporate.
The new arrangements will give auditors using BGL Simple Fund Desktop the ability to import data directly into the Auditflow system, including financial reports and work papers.
“Half a million SMSFs in Australia are required to have an audit each year. The integration allows the auditor to focus on risk and compliance rather than spending their time loading financial data, creating paper-based files and focusing less on what matters in the audit,” Auditflow chief executive Rich Neal said.
“Fee pressure is a significant issue for accountants that audit SMSFs. Our integration with BGL will significantly reduce this time by populating audit files intelligently in minutes rather than manually in hours.”
BGL managing director Ron Lesh said the new development came in response to practitioner demands.
“Our clients tell us SMSF audits need to be made easier. Integrating with Auditflow provides our clients with a smart audit solution,” Lesh said.
He said initiatives such as this were indicative of how BGL was working with its clients to better streamline their processes and achieve cost efficiencies for their businesses.