ICA weighs up financial reporting software

The English ICA is considering extending its IT accreditation scheme to accommodate financial reporting software, writes Nick Huber.

Datum, an Australian budgeting software specialist that is expanding its operations in this country, last week confirmed that it had discussed the possibility of getting its applications certified by the institute.

The English ICA runs a benchmarking scheme for accountancy software, which currently does not cover the burgeoning budgeting software industry.

Under the existing scheme, vendors pay the institute an administration fee based on the complexity of the software testing.

Information on the accredited software suppliers is available on the institute’s website and in a printed brochure.

Jack Campbell, business unit manager for Datum in the UK, said that, although budgeting software did not have to deal with the complexities of trading in euros, companies still needed more reassurance on the quality of reporting software before parting with their money.

‘We need something for reporting with equal weight to BASDA’s euro accreditation scheme,’ he said. ‘If I was going to spend more than #5,000 on software I’d want to know what I was buying.’

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