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Draftworx is reporting and assurance working-paper automation software for accounting firms, auditors, and corporate finance teams. It focuses on generating financial statements in line with IFRS, IFRS SME, FRS, and Companies Act disclosure requirements across different jurisdictions, while also covering assurance work ranging from Compilation and Independent Review to Audit engagements.
The workflow revolves around creating an entity, importing a trial balance, linking accounts, automatically generating financial statements, applying letterheads, and producing the final output. The system can automatically generate balance sheets/statements of financial position, income statements, statements of changes in equity, cash flow statements, accounting policies, and notes, and it supports carrying links forward into the following year. Working papers cover ISA audits, ISRE2400 reviews, ISRS4410 compilations, ISRS4400 agreed-upon procedures, and more. For integrations, trial balances can be imported from Sage, Xero, QuickBooks, CaseWare, Excel, and other sources. Its IFRS/IFRS SME templates are also pre-linked to the XBRL Taxonomy to simplify filing.
Draftworx offers both Cloud and Desktop versions. Cloud is charged as a one-off fee by entity, template, and financial year; each account includes 1GB of storage and allows unlimited users. Desktop is licensed per user per year, with each user able to create unlimited client files. Desktop Prac costs USD 550, while Corp IFRS costs USD 3,325. In Cloud, the IFRS template is USD 208, IFRS SME is USD 20, and FRS 102 is USD 21. Cloud accounts include a free demo client file, and Desktop comes with a 14-day trial.
The strengths are its wide range of professional templates, strong coverage of international standards, WebSync connectivity between Cloud and Desktop, and support via email, phone, tickets, Teamviewer remote assistance, plus free training. The drawbacks are limited disclosure around security and compliance, with no visible ISO/SOC certification details; API capabilities are not disclosed; and there is no clear support for Chinese Accounting Standards, a Chinese-language interface, RMB payments, or local service in China.
It is best suited to firms serving clients in the UK, Ireland, South Africa, and other supported countries, or companies that need IFRS/FRS financial statement automation. If the main focus is China’s domestic accounting standards and tax environment, Kingdee, Yonyou, Inspur, or local audit working-paper systems should be evaluated. No information is provided about network accessibility from China, so its status is unknown.
⚠ This review is compiled from public sources and does not constitute a purchase recommendation. Verify all facts on the vendor's official site. Verify on draftworx.com official site.
draftworx.com is an South Africa Legal & Tax provider. TG4G tracks its product information, an overall rating of 7.0/10, and a China-accessibility score of Workable. Click "Visit Official Site" to reach draftworx.com directly.