Draftworx, Comprehensive Financial and Audit Solution without equal
Draftworx™ is a fully integrated, compliant, automated drafting and working paper suite designed to alleviate problems identified in current drafting, working paper and audit software. It’s the result of collaboration with some of the world’s greatest accounting & auditing minds. The solution includes financial statements, XBRL reporting, working papers, audit methodologies, collaboration tools and digital signatures in an affordable desktop, cloud and hybrid variant.
What do you need in your financial reporting and audit working paper system?
The Financials module, allows you to import data from most accounting software packages in real-time. Working Papers provides powerful document management, real-time collaboration, direct scanning, as well as an electronic/online review process. R.A.C. Audit is a dynamic auditing methodology built to streamline your engagement, leveraging technology that automatically adjusts your working papers based on prior information. Synchronise your financial and engagement files to the cloud with WebSync, and empower your team to work from anywhere, at any time and on any device. The Cloud add-on grants you access to your financial statements and working papers through your web browser, enabling quick efficient collaboration with team members and engagement with clients. DigiSign is a secure, digital signature workflow solution that enables you to send your financial statements to clients for approval without ever leaving your office.
Draftworx for SAIPA
Our new accounting officer+ methodology has been developed largely based on the SAIPA Working Papers. It incorporates key questions and procedures from the SAIPA working papers, as well as items drawn from our other methodologies. The combined working papers create consistency with our other existing methodologies (creating a familiar flow which will minimise learning time for users) combined with the comfort of using high quality steps and procedures from an established methodology provided by SAIPA.
The CIPC has mandated submission of Annual Financial Statements (AFSs) for all qualifying entities from 1 July 2018 through iXBRL. In terms of Section 33 of the Companies Act 71 of 2008, and regulations 28, 29 and 30 of the Companies Regulations of 2011, the following entities need to submit their AFS’s through XBRL as from 1 July 2018:
- All public companies;
- Private companies (qualifying and currently submitting using PDF);
- State owned companies;
- Non-profit entities;
- Close Corporations (qualifying and currently submitting using PDF)
Who uses our product?
Accounting Firms, Auditing Firms as well as Corporate Accounting Departments.
Draftworx provides automated drafting and working paper financial software to more than 4,000 Accounting & Auditing firms.