Tech News: Protiviti patents audit process

December 13, 2024 9:00 AM

Protiviti was awarded a patent on automated audit artifact reconciliation process; Avalara was named a leader in three IDC MarketScape reports; LeaseCrunch will hold a webinar on Dec. 17; and other accounting tech updates.

Protiviti awarded patent on automated audit artifact reconciliation process

Tech-focused consulting firm Protiviti has patented its "Systems and Methods for Automated Audit Artifact Reconciliation" process, which cuts the time required to test for unauthorized access, a common SOX and operational risk, and provides organizations with greater confidence in their controls in minutes. The patented process is a combination of algorithms that execute "fuzzy matching" on names to identify unauthorized access from users who have been terminated, thereby expediting the testing of controls in this key, and often problematic, area. This innovation can also be used for user access reviews, allowing users to execute access comparisons that would have normally taken several days and reduce the time to a few minutes. The patented solution is a component of several dozen accelerators in Protiviti's Technology Accelerator Platform, which brings packaged automation, analytics and AI-enabled solutions to address common challenges in internal audit and SOX.

Avalara named leader in three IDC MarketScape reports

Michael Nagle/Bloomberg

Tax automation solutions provider Avalara announced has been recognized as a leader in three IDC MarketScape reports covering tax automation solutions for SMB, enterprise and VAT. Specifically, it has been named a leader in IDC MarketScape: Worldwide SaaS and Cloud-Enabled Sales and Use Tax Automation Software for Small and Midmarket Businesses 2024 Vendor Assessment; IDC MarketScape: Worldwide SaaS and Cloud-Enabled Sales and Use Tax Automation Software for Enterprise 2024 Vendor Assessment; and IDC MarketScape: Worldwide Value-Added Tax Management Applications 2024 Vendor Assessment. This recognition comes after Avalara was positioned in the Leaders Category in the IDC MarketScape: European Compliant e-Invoicing Solutions 2024 Vendor Assessment.

LeaseCrunch to hold webinar Dec. 17

Lease accounting solutions provider LeaseCrunch announced an upcoming webinar: "2025 Game Plan: Advanced Year-End Lease Accounting" scheduled for December 17 at 1:00 p.m. CST. It will discuss tools and best practices to streamline year-end lease accounting, providing practical solutions to help organizations save time, reduce errors and remain audit-ready. The webinar will go over handling impairment and abandonment scenarios; exploring effective strategies for managing head leases, subleases and modifications; and discovering ways to optimize processes and ensure accurate financial reporting.

New hires and appointments

Compliance solutions provider Sovos announced the appointment of two executive leaders. David Woodworth joins Sovos as its chief financial officer, where he will lead all finance, accounting, tax and treasury matters at the company while overseeing financial integrations. Swati Garodia assumes the role of chief product officer, where she will lead the product, design and content organization, set the company's product strategy and work closely with the technology organization to accelerate Sovos' platform vision. … Business solutions company Wolters Kluwer has appointed Mark Sherwood as executive vice president and chief information officer. In his role he will oversee the overall enterprise technology infrastructure of Wolters Kluwer with a focus on advancing the digital DNA, delivering next generation enterprise IT capabilities, transforming operations with AI, and enhancing the workplace and customer experience. Sherwood joins Wolters Kluwer from Microsoft, where he most recently led the infrastructure and engineering services global team. … Big Four firm KPMG has appointed Todd Lohr as head of ecosystems for KPMG U.S. Advisory. Lohr will be responsible for developing and executing the KPMG U.S. Advisory ecosystem strategy, driving innovation, and expanding the firm's reach into new markets and sectors through the lens of the latest AI and cloud offerings. In this role, he will oversee coordination of corporate joint ventures, technology alliances, suppliers, downstream partners, startups, academia and capital investors to create growth opportunities for clients. Recently, KPMG announced increased investment in AI technologies like Google Cloud, Microsoft, Salesforce and more to enable the firm to co-build, co-innovate and co-develop with its technology partners.