CaseWare’s AnalyticsAI Provides New Level of Audit Visibility
Risk mitigation in digital auditing processes is taken to a whole new level through the most recent release, AnalyticsAI, from software solutions provider CaseWare International. AnalyticsAI provides professionals consolidated audit processes by enabling auditors to perform analytics throughout an engagement, eliminating the separation of functions all while ensuring compliance is met.
“We’re bringing this groundbreaking technology to market to address a new reality: conventional auditing processes simply cannot keep pace with the volume of data generated in today’s digital business environment,” said Matt Dodds, CaseWare IDEA General Manager. “We’ve designed AnalyticsAI so anyone on the audit team can use it to easily spot exceptions in client data that warrant further investigation and indicate areas of higher risk.”
AnalyticsAI challenges other audit tools in that it analyzes 100 percent of transactions rather than smaller subsets of information. Additional features of AnalyticsAI includes customized analysis for what’s being audited – with the option to increase the risk score of ‘influencer’ accounts, multi-user capabilities for transactions, interest area isolation capabilities, and more.
“AnalyticsAI will even identify anomalies outside of the parameters of the audit, allowing for higher quality and more efficient bookkeeping overall,” added Hampton.
“One of the advantages of being able to tie AnalyticsAI and IDEA together is that it takes away the notion of the ‘black box’ – the primary criticism of AI products on the audit market today,” said Matt Dodds, adding that data scientists can easily go behind the scenes to dive deeper into the results reported by AnalyticsAI. “If further investigation of the data is needed, they simply move the data over and slice and dice it in IDEA,” he said.
AnalyticsAI will make its appearance in North America, Europe, and Asia with CaseWare’s global network to follow.
To read more about AnalyticsAI, please visit: caseware.com