LONDON, May 9, 2024
/PRNewswire/ -- IRIS Software Group, a leading global
software provider of accounting, edtech, payroll and HR solutions,
today unveiled IRIS Outsourcing Audit Services, further assisting
accountancy firms in unlocking capacity issues that inhibit growth.
This is the sixth outsourcing service IRIS has released since 2004,
adding to its existing catalogue of outsourced bookkeeping,
year-end accounts, personal tax, payroll, and iXBRL tagging
services.
According to the results of an anonymous IRIS poll of UK-based
accountants conducted during February and March, 50% of respondents
are unable to offer audit services due to recruitment challenges.
While 19% offer profitable audit services, a further 19% struggle
to make a margin on audit work and 11% cite challenges with
recruiting and retaining audit staff for their service.
The new IRIS Outsourcing Audit Services, available to UK
customers, helps traditional practices, growth firms and digital
firms address critical staffing shortages, streamline technology
use, focus on higher fee-earning activities and client expansion,
and achieve sustainable success in a competitive marketplace.
Commenting on the new provision, Mark
Chambers, Managing Director of Accountancy at IRIS said:
"There are over 4,000 accountancy firms registered to carry out
statutory audits in the UK, 80% of which have between one and three
principals (partners or members of an LLP). For many firms, audit
work makes up more than 50% of their fee income, so losing a single
audit team member can significantly affect service delivery. That's
why we have crafted a scalable audit outsourcing solution that can
blend with an onsite audit team and offers end-to-end audit support
for significant labour cost saving."
IRIS Outsourcing, a trusted outsourcing provider to UK
accountancy firms, leverages its 20-year expertise through its
dedicated team in IRIS India.
Comprising of more than 500 qualified accountancy, bookkeeping,
tax, payroll and audit professionals, the team is well-versed in
the nuances of UK accountancy, taxation, and audit
methodologies.
Proudly holding ISO 27001 and GDPR certifications, quality
assurance including ISO QMS 9001: 2015, ISO ISMS 27001:2013 and
PIMS 27701:2019 certifications, the new service covers all aspects
of the audit process from planning and execution to completion and
reporting. The team also has experience with both IRIS and non-IRIS
software, making IRIS Outsourcing a true software agnostic service
provider; offering seamless integration with client-specific
processes and systems without requiring extensive assistance.
Ryan Hudson, Director at Howards
Chartered Certified Accountants commented: "Any way we can work
more efficiently is a win for us, and IRIS Outsourcing has helped
us do that. It's been a fantastic commercial solution for us...With
IRIS Outsourcing, it gives us the flexibility to be able to take on
more work and continue to give our clients a fantastic
service."
Notes to editors
The anonymous IRIS poll received 139 responses. The full dataset
is available on request.
About IRIS Software Group
IRIS Software Group is a global provider of mission critical
software and one of the UK's largest privately held software
companies. IRIS provides software solutions and services for
finance, HR and payroll teams, educational organisations, and
accountancy firms that takes the pain out of processes and lets
professionals focus on the work they love. Through simplifying,
automating and providing insights on everyday mission critical
tasks for organisations of all shapes and sizes, IRIS ensures
customers can look forward with certainty and confidence.
IRIS is the largest third-party online filer with the UK
Government. Ninety three of the top 100 UK accountancy firms use
IRIS software. One in six of the UK's workforce is paid by IRIS
payroll offerings, and globally, six million employees receive
their payslip via IRIS software every month. More than 850,000 UK
employees are managed by IRIS HR solutions. 12,000 UK schools and
academies use IRIS, with four million parents and guardians using
IRIS apps to connect with their children's school; 300 million
messages are delivered between schools and parents each year, and
more than £15 million transactional payments are processed every
month. IRIS is certified as a Great Place to Work® and recognised
as one of the Best Workplaces for Wellbeing, one of the Best
Workplaces in Tech and one of the Best Workplaces for Women.
To see how IRIS helps organisations get things right first time,
every time, visit www.iris.co.uk or follow IRIS Software Group
on LinkedIn, Twitter and Instagram.
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