CaseWare IDEA is an audit tool geared toward ensuring data integrity and fraud prevention through advanced analysis capabilities. It is used by auditors to analyze transaction and other data to identify anomalies, spot trends, extract statistical samples, all the while maintaining an audit trail (history) of the work performed.
With IDEA, data can be imported or exported from/into virtually any common format, including all accounting software and mainframe computing standards, with the program capable of reading and processing millions of records within a few seconds. The system can then be used to compare, join, append and connect various files from different sources and extract specific transactions or identify and eliminate gaps or duplicates.
Reporting is the primary product of IDEA, with the system offering extensive data analysis options, “continuous auditing” features and detailed financial insight. Various add-on tools are also offered, including the IDEA Server for enterprise-level analysis; Examiner, for enhancing network security controls; DART (Data Archiving Retention Tool) for eliminating extensive SAP programming; and the Smart Analyzer-Financial, a utility that helps improve audit efficiency.
IDEA helps lower analysis costs and streamlines audit engagements. And with the Smart Analyzer module, audit staff members also have access to prebuilt tests and reports for various areas of business financials (including GL, AR, AP, inventory and fixed assets), along with features that help handle SAS 99-specific requirements.