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Reinvent Data — TopCAATs

www.topcaats.com

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

Reinvent Data has introduced a new product called TopCAATs. This Excel add-in
allows accountants to apply computer-assisted audit techniques (CAATs) to their
client data. TopCAATs is preloaded with more than 100 functions and features
that are commonly used by accountants, auditors and financial professionals.
Samples of some of the functions that are included in the product are Benford’s
testing, Gap/Duplicate detection and Monetary Unit Sampling.

The primary selling points of this product over similar products are its ease
of use and price. If you’re familiar with Excel, there should be very
little learning curve. I downloaded the fully functional 30-day free trial of
the product, and I was effectively using the tools within an hour. An individual
user license starts around $300, although substantial quantity discounts are
available.

Reinvent Data is also very flexible and can create a customized version of
TopCAATs, allowing you to modify or add your own calculations or tools, such
as a materiality calculator. They can also change the product terminology to
fit your audit methodology. Although the product is fairly easy to use, several
training options are available, including self-study, online or in-house.