CaseWare IDEA

From the August 2009 article on Audit/Engagement Tools, part of the 2009 Review of Engagement & Trial Balance Systems.

CaseWare IDEA is a set of tools used to assist auditors in performing computer-assisted auditing techniques (CAATs). IDEA allows auditors to import and export an unlimited amount of data/transactions from multiple sources. It allows users to select testing samples, extract specific transactions, identify unusual data gaps and duplicate entries. After the data is analyzed, custom reports are created that allow the user to make decisions based on the analysis. IDEA also has several add-on modules that increase the usefulness of the product. IDEA Server is used for enterprise-level data analysis. This add-on allows users to utilize IDEA on larger file sizes. This is a nice feature for your larger clients.

IDEA Smart Analyzer - Financial is preloaded with common audit tests and reports that are routinely used in audits. This add-on decreases the learning curve of the product and allows inexperienced auditors to perform tasks and tests that they normally could not perform. This add-on is prepackaged with audit tests for GL, AR, AP, inventory and fixed assets. As a result of these preloaded tests, your audit quality and consistency will be increased across your entire audit practice. Your firm will save time on each engagement and more easily handle SAS 99 requirements.

DART (Data Archiving Retention Tool) is an integrated tool designed for tax filings by SAP clients. This tool retains financial records without the need for extensive programming to extract data from SAP into IDEA. If your clients have SAP, this tool is for you. CaseWare Examiner allows auditors to extract entries or transactions that have potential security risks associated with them. This add-on leverages the skills you have from IDEA, but it lets auditors test network log files in a more effective and efficient manner. Additionally, it will enhance your network security controls.

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