Reinvent Data

Initially focused on the U.K market, the TopCAATs system has been growing
in popularity among U.S.-based audit firms by providing time-saving features
that help streamline audit processes. The Excel-based program is primarily geared
toward automating testing functions, with computer-assisted audit techniques
and dozens of pre-built tools, guides and reports.

TopCAATs plugs into the user’s Excel program and uses common spreadsheet
tools, making it easy to use, and providing built-in Help and color coding to
guide new or inexperienced users. It also helps reduce risk by allowing the
testing of 100 percent of the audit data, instead of just a sampling of the
data. Built-in tests include Benford’s testing, Gap/Duplicate detection
and Monetary Unit Sampling. This adds value, especially since many of the tests
simply can’t be performed manually, while also reducing errors and improving
quality.

The TopCAATs system also helps to standardize audit processes based on firm
or client needs and preferences, which further aids reliability and speeds engagement
functions. TopCAATs can also be customized by adding macros or other tools and
changing the terminology it uses to fit firm standards.