In the late 1990’s Chartered Accountant Clive McKegg was seeking ways to automate and streamline his audit work. From this idea Audit Assistant was born.
As it became apparent that other auditors could also benefit, he developed the first commercial version in 1999, using Excel as a platform. This was initially marketed by accounting software provider Solution 6 prior to their acquisition by MYOB in 2004.
Later further features were added including an online updating system. With the advances in online software and the adoption in New Zealand of International Auditing Standards (NZ ISAs) a new product was developed using a more powerful and flexible cloud-based platform. This was launched in March 2009, along with the formation of Audit Assistant Ltd, with Clive and Matt McKegg as directors.
For several years a joint arrangement with Thomson Reuters provided users with a version of their financial reporting checklists within Audit Assistant. We now develop IFRS, PBE and smaller entity NZ financial reporting checklists in-house. These are available in both the audit and accounting packages.
Further features and content have been added as technology and standards change. In addition to services to auditors, we now also offer systems for accounting firms, AML auditors, and custom development based on our platform. Focussing initially on the needs of New Zealand professionals, we are beginning to develop versions suitable for a wider world market.