CaseWare releases new cloud, AI solutions for auditors

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CaseWare, which makes audit software, has released a suite of cloud solutions aimed at the Canadian market to connect accountants, auditors and clients.

The coronavirus pandemic has forced most audits to be conducted remotely — the need for technology to enable this has risen sharply and quickly.

The solutions are CaseWare PBC Requests, CaseWare ReviewCompTax, CaseWare Audit and CaseWare AnalyticsAI. Together in one product suite, they connect to other CaseWare solutions such as Working Papers.

Though collected together as a suite, each product is a standalone solution hosted in the secure CaseWare Cloud. Accountants can choose the product or combination of products that best fits their needs as they engage in new ways of working. The idea is that everyone at the firm, plus clients, will be working from one integrated workflow.

“The role of accountant and auditor will be more important than ever in a post-pandemic financial world, where people will need to place even greater trust in numbers and accountability,” said Ross Hampton, CaseWare head of business development, Americas, in a statement. “As a result, the speed with which firms transition to this new way of working — remotely and cohesively together — will radically increase. Before, many in the industry had a vision of one day transitioning to the cloud, but circumstances beyond all of our control are forcing accountants and auditors to do it now.”

The product features are as follows:

CaseWare PBC Requests

  • An add-on to the CaseWare Cloud platform, CaseWare PBC Requests — a centralized client cloud portal that serves as an introduction to the cloud — allows firms to collaborate with clients, securely manage requests and streamline workflow related to obtaining information.
  • Users gain a two-way, real-time communication flow with clients to securely send signed letters and documentation, receive client files and respond to requests.
  • The systems provides real-time electronic status updates.
  • Client requests automatically align with engagement status, and platform integration ensures information is synced between the cloud engagement file and Working Papers.

CaseWare ReviewCompTax

  • Hosted within CaseWare Cloud, CaseWare ReviewCompTax enables accountants and auditors to perform reviews and tax engagements in a single location from a single database.
  • Web-based tools include 24/7 access to client accounts and information, automatic updates and shared dashboards to ensure everyone is working on the same documents and all communication is securely sent, received and tracked.
  • Information is automatically updated throughout financial statements and tax returns, removing the need for multiple manual entries and reducing the likelihood for error.

CaseWare Audit

  • A cloud-based audit solution, CaseWare Audit is hosted in CaseWare Cloud.
  • Auditors can leverage content to identify risk up front and optimize their audit workflow accordingly, and have the ability to record and view engagement risks from anywhere within the file.
  • Auditors can track all communications related to an audit file in one place, from initial assessment and interpretation, to risk identification, evidence gathering and reporting, reducing the need to work with multiple email threads.
  • Auditors receive a proper random sample for testing directly within an engagement.

CaseWare AnalyticsAI

  • CaseWare AnalyticsAI provides artificial intelligence-based transactional analysis.
  • Analytic capabilities can be integrated directly into Working Papers to allow auditors to perform analysis as part of their routine workflow.
  • Entire data sets are analyzed to find exceptions and identify areas of higher risk.

To learn more about this Canadian suite of products, click here.
For information on the U.S. cloud product suite, click here.

For reprint and licensing requests for this article, click here.
Audit preparation Cloud computing Audit software Artificial intelligence