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Deloitte partners with Fund Recs to increase efficiency of investment management audits

4 April 2019

Deloitte Ireland LLP is pleased to announce that it has partnered with software provider Fund Recs. Deloitte will use Fund Recs software to automate the custody reconciliation element of its investment fund audit process - as part of that process Deloitte will utilise the Fund Recs data transformation service to convert pdf documents to an editable format.

Brian Forrester, Investment Management Leader at Deloitte Ireland, commented: “At Deloitte, we are continually looking at ways to enhance the quality of our audits and the impact that we deliver to our clients. This partnership with Fund Recs is an important part of the technology-driven approach we are taking for investment management audits.”

Matthew Foley, Partner, Financial Services at Deloitte Ireland commented: “The solutions provided by Fund Recs will work alongside our existing proprietary technologies and tools to make the process of auditing an investment fund more efficient and quicker, and will provide better quality data. This ultimately enables us to drive more meaningful insights for our clients.” 

Fund Recs CEO, Alan Meaney, added: “We are excited to be working closely with Deloitte to help streamline the investment fund audit process they carry out on behalf of their clients. This partnership is a great example of the benefits of combining a highly skilled workforce with leading edge technology to add value to client data.” 

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For further information please contact:

Claire Quinn
Deloitte
01 417 2356
087 9777783
cquinn@deloitte.ie 
 

About Deloitte

At Deloitte, we make an impact that matters for our clients, our people, our profession, and in the wider society by delivering the solutions and insights they need to address their most complex business challenges.

As the largest global professional services and consulting network, with approximately 286,000 professionals in more than 150 countries, we bring world-class capabilities and high-quality services to our clients.

In Ireland, Deloitte has nearly 3,000 people providing audit, tax, consulting, and corporate finance services to public and private clients spanning multiple industries. Our people have the leadership capabilities, experience and insight to collaborate with clients so they can move forward with confidence.

In this press release references to Deloitte are references to Deloitte Ireland LLP. The information contained in this press release is correct at the time of going to press. Deloitte Ireland LLP, is the Ireland affiliate of Deloitte NWE LLP, a member firm of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”). DTTL and each of its member firms are legally separate and independent entities. DTTL and Deloitte NWE LLP do not provide services to clients. Please see www.deloitte.com/about to learn more about our global network of member firms.

About Fund Recs

Fund Recs develops cloud-based reconciliation software for the Funds Industry, replacing outdated enterprise software with a pay-as-you-go Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Start-up of the Year” at the ICT Spring Conference in Luxembourg. Find out more at: www.fundrecs.com.

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