BDO partners with Validis on accounting technology
BDO Canada has partnered with Validis to use the fintech firm’s open accounting solution to enhance its audit services.
Validis, a London-based technology firm with offices in North America, offers an API-enabled platform that instantly accesses and standardizes financial information from major accounting packages. The Validis system connects with accounting applications used by 80% of the SME market, and is currently used by 80% of tier-one banks in the UK and each of the Big Four accountancies.
BDO Canada will leverage Validis’ third-party software to boost its audit quality and efficiency by improving the accuracy and speed of accessing financial information – including general ledger, accounts receivable, and accounts payable data.
“We’re delighted to be supporting BDO on its continued journey of audit innovation and growth in Canada,” Jeff Gramlich, managing director, accounting at Validis, said. “Our leading API solution will provide their audit teams with secure, consent-driven connectivity to their clients’ accounting data, and standardized from a range of packages—a task that has traditionally been very manual and time-intensive. Our software saves hours of effort for both the audit team and client’s finance team, helping reduce the total audit time by days.”
BDO’s accounting advisory practice delivers services across financial reporting support, deal support, and transaction and capital market readiness.
“We are pleased to partner with Validis on this exciting opportunity, which will help move BDO further along its digital journey,” said Paul Vetrone, BDO’s audit transformation and innovation director. “Validis will plug into BDO’s existing digital technology suite to drive a high-quality audit experience, with greater insights made available to our advisors and clients.”
BDO Canada is headquartered in Toronto and provides audit, tax, and consulting services to mid-market clients. The firm has 4,300 people nationwide and had $793 million in revenues in 2021.
