CaseWare Africa has released a fully updated and localised version of its world-leading software for automating annual financial statements that fully complies with the new Kenya Companies Act 2015. The new Act came into force in July 2017. <\/p>\n
“This is a milestone for CaseWare Africa because it represents the first full localisation of the CaseWare product in line with local legislation in an African country,” says Theuns Holtshousen, Business Leader for CaseWare Africa. <\/p>\n
\u201cCaseWare Africa is very focused on adapting our international templates to local needs. To that end, we have a large development team of 50 development and accounting experts to localise CaseWare\u2019s world-leading product, which is fully compliant with International Financial Reporting Standards (IFRS),\u201d he says. \u201cThe new Kenya Companies Act is a highly progressive piece of legislation in line with global best practice in company law, and so presents a perfect opportunity to accomplish a fully-fledged localisation of our software.\u201d<\/p>\n
Holtshousen says that CaseWare Africa is offering two Kenya-specific releases, one for large, publicly-owned corporates and one for smaller, private companies. This is in line with one of the major developments in the new Kenya Companies Act. <\/p>\n
In localising its product, CaseWare Africa\u2019s development team collaborated closely with Simon Fischer, a recognised technical expert in both Kenya and globally. He is responsible for the IFRS Africa regional desk, and currently serves on the Institute of Certified Public Accountants of Kenya\u2019s Professional Standards Committee. In addition, he serves on the SME Implementation Group appointed by the International Accounting Standards Board. <\/p>\n
Localisation enables CaseWare to offer the benefits of interpretations that are in line with international accounting and reporting standards, and will thus carry weight with Kenyan authorities and analysts, but that are also closely tailored to Kenya\u2019s own legislative requirements. <\/p>\n
\u201cThe new Kenya-specific software also opens up the benefits of automation more fully to the local market. Automation is changing accounting and auditing because it allows even smaller financial services firms to benefit from leading intellectual capital, while streamlining complex processes and maximising profitability. They can thus compete with the biggest firms for large accounts, and improve service delivery. Critically, automation frees up valuable human resources for value-added work,\u201d Holtshousen points out. <\/p>\n
He adds: \u201cIn addition, CaseWare is constantly being updated in line with changing local and international requirements, removing a huge administrative burden and responsibility from companies and their financial services partners. The need for a technical\/ development capability is also avoided as CaseWare offers full support.\u201d<\/p>\n
The recently released Kenya version of CaseWare is updated with all new standards and interpretations as directed by the International Accounting Standards Board up to 30 June 2017, and details all the changes made in line with the new Act. Further updates will be made as and when necessary. <\/p>\n
\u201cBoth versions have already been downloaded and are in use, and initial feedback is extremely positive,\u201d concludes Holtshousen. \u201cWe are confident that this CaseWare release has the potential to help Kenya to continue building a vibrant and globally competitive business environment.” \t<\/p>\n","protected":false},"excerpt":{"rendered":"
CaseWare Africa has released a fully updated and localised version of its world-leading software for automating annual financial statements that fully complies with the new Kenya Companies Act 2015. The new Act came into force in July 2017. “This is a milestone for CaseWare Africa because it represents the first full localisation of the CaseWare […]<\/p>\n","protected":false},"author":23,"featured_media":15777,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[399,19,183],"tags":[826,1040,1041,297,1042,210],"class_list":["post-15776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-news","category-regional-news","category-software","tag-automation","tag-caseware","tag-international-financial-reporting-standards","tag-kenya","tag-kenya-companies-act-2015","tag-software-2"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/15776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/comments?post=15776"}],"version-history":[{"count":0,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/15776\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/media\/15777"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/media?parent=15776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/categories?post=15776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/tags?post=15776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}