Kira for Accounting Standards Compliance

Kira allows accounting teams to respond quickly and efficiently to changes in accounting standards and other matters that may impact the preparation of their clients’ financial statements or internal reports.

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Kira’s state-of-the-art machine learning technology automatically identifies and extracts information from contracts and comes with over 1,000 built-in provision models. If the review of a company’s documents requires the identification of additional or unusual information, Kira Quick Study can be used to identify virtually any desired clause. Gain an immediate high-level understanding of the potential impact an accounting standard change will have on an organization’s financial statements and quickly tailor and export summaries of relevant information.

Identify Risks for Clients and Engagements of Any Size

Reviewing entire repositories of documents to identify non-compliance or address changes in accounting standards that may impact a company’s financial statements can be time consuming and cost-prohibitive for many potential clients. Many companies may not even be aware of just how many documents they have in place that require review, and may underestimate the length of time a review will take in order to meet compliance deadlines.

Kira can quickly review large volumes of documents and highlight only the data that may be relevant to the creation of a company’s financial statements. Teams using Kira’s versatile user interface will have access to useful project metrics that simplify project planning and resource allocation. Export results in a number of formats for easy comparison between data points and fast preparation of risk allocation reports.

Ready to use out-of-the-box

Kira is ready to use out-of-the-box or can be customized. Customers have used built-in provision models and built their own Quick Study models to find data relating to:

Lease Accounting
(IFRS 16 & ASC 842)
Banking Regulations
Revenue Recognition
(IFRS 15 & ASC 606)

How does it work?

Kira processes contracts in dozens of formats and automatically converts them to machine readable text. It includes workflow tools for your team to validate the results prior to them being exported into reports in Excel, Word or PDF.

Kira is the leader in machine learning contract data extraction

Kira has been used on thousands of concurrent projects, helping hundreds of organizations gain greater visibility into their contracts. Our users include many of the world’s leading professional service firms and companies, in over 40 countries. We are among the most used and trusted AI solutions for professionals anywhere. There’s a reason why.

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