Codestone

Category: Accounting software

As two large auditing firms in the US plan to merge later this year, bosses at each could be considering whether the pooling of their accounting software – or investment in new technology – will aid their future growth.

Wipfli LLP and Eide Bailly LLP are due to come together to form one new business from June 1st.

"Together, our firms will have the depth of resources necessary to help our clients meet their future challenges and leverage future opportunities," Eide Bailly's Jerry Topp and Wipfli's Rick Dreher – the managing partners and chief executive officers at their respective firms – said in a joint statement.

They added that they are "excited" about what the deal could result in both for the companies and clients.

One potential result of using accounting software is the improved accuracy and standards it can trigger within an auditing firm.

A recent case in which regulations were not adhered to involved PricewaterhouseCoopers. The firm was fined £1.4 million for wrongly informing officials that its client money was being securely looked after.

Posted by Jack Gilbert