New product suite includes audit and client collaboration functionality, made-for-Canada analytics, and a streamlined accounting platform to benefit users at all stages of cloud adoption

As the Canadian accounting and auditing industries adapt to a new normal amid a changing world, where working in teams and engaging with clients must be done remotely, leading software provider CaseWare International Inc. has unveiled breakthrough technology solutions that will enable accountants and auditors to work smarter, faster and more cohesively, both now and for the long term.

“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.

“As a result, the speed with which firms transition to this new way of working – remotely and cohesively together – will radically increase,” Hampton said. “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 solutions included in the announcement are: CaseWare PBC Requests, CaseWare ReviewCompTax, CaseWare Audit and CaseWare AnalyticsAI. By bringing them together in one product suite – that seamlessly ties in with other CaseWare solutions such as Working Papers – the company is giving accountants the support they need to shift their entire practice to the cloud.

Each product is a standalone solution hosted in the secure CaseWare Cloud, providing users with the flexibility to choose the product or combination of products that best fits their particular needs as they engage in new ways of working, and giving them assurance that everyone involved will be working from one integrated workflow.

“We’re addressing the needs of users at all stages of cloud adoption – from forward-thinking firms who are already in the cloud, to firms that are just starting to transition, and those that may want to start small,” Hampton explained. “Everyone needs to be thinking about how the accounting role integrates with the audit role, and how both of those activities engage with clients to ensure everyone is working from the same data, with one workflow and one process to minimize risk.”

Key features and benefits of the suite of products include:

CaseWare PBC Requests

-A new add-on to the CaseWare Cloud platform, CaseWare PBC Requests – a centralized client cloud portal that serves as an excellent introduction to the cloud – allows firms to seamlessly 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 quickly and securely send signed letters and documentation, receive client files and respond to requests.

-Real-time electronic status updates provide improved workflow visibility, creating transparency and ensuring requests are not forgotten or missed.

-Client requests are automatically aligned with engagement status and platform integration ensures information is synched between the cloud engagement file and Working Papers.

CaseWare ReviewCompTax

-Securely hosted in CaseWare Cloud, CaseWare ReviewCompTax is an end-to-end platform that enables accountants and auditors to perform review, notice to reader and tax engagements in a single location from a single database.

-Innovative web-based tools include 24/7 real-time 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

-An end-to-end, cloud-based audit solution, CaseWare Audit is securely hosted in CaseWare Cloud, removing risks associated with duplication of work and over or under auditing.

-Auditors leverage content to identify risk up front and optimize their audit workflow accordingly, performing only the work necessary with the ability to record and view engagement risk from anywhere within the file.

-Auditors have the ability to securely track all communications related to an audit file in one place, from initial assessment and interpretation, to risk identification, evidence gathering and reporting, eliminating the need to work with multiple email threads.

-Auditors are ensured a proper random sample for testing directly within an engagement.

CaseWare AnalyticsAI

-CaseWare AnalyticsAI provides the same artificial intelligence-based transactional analysis, tailored to reflect the way Canadian firms work and including Canadian templates for balance sheets and income statements.

-Easy-to-use analytic capabilities which can be integrated directly into Working Papers to allow auditors to perform analysis as part of their routine workflow.

-Entire data sets are quickly analyzed to find exceptions and identify areas of higher risk, allowing auditors to perform more accurate and thorough audits.

“Whether you’re an auditor looking for greater insights or an accountant working on multiple client requests or a compilation engagement, this product suite has the functionality you need, including basic functions such as tax returns and financial statements such as integrating tax and financials into one process,” Hampton said. “You can still do everything you need to do to run your business and meet client expectations, only working in the cloud means that you can do it better.”

To learn more about this Canadian suite of products, click here.

For information on the U.S. cloud product suite, click here.