Managing Work Papers
For many companies, the audit process can be time consuming and expensive. Being better prepared means companies can get more from their audit while managing costs more effectively.
Caseware helps companies become more efficient with their record keeping and reporting. Any information documented is automatically synced with where it needs to go, reducing the potential for errors and inconsistencies. You can also link information to entries to provide easy access to support materials if asked questions in the future.
Your team will significantly decrease manual effort associated with both internal and external audit processes, while improving the transparency, consistency and quality of the outputs you create and receive. A single data source also allows you to conduct greater analyses on your operations– giving you better insights from which to make strategic decisions.
Be collaborative. Be efficient.
The inability to collaborate on working papers can create significant time management and efficiency issues, and also lead to inconsistencies and errors.
Caseware leverages SmartSync™ technology so that team members can collaborate on the same working paper file in real time. No more waiting as information is always consistent and up to date. Information is also available to team members at any time, eliminating the need to wait for files to be delivered or transferred and making finding files and support documents simple.
Reduce the Risk of Errors
When a high level of manual intervention is required as part of your financial reporting processes, the risk of error becomes greater. One adjusting journal entry might require numerous changes in other systems and documents which need to be checked and double-checked.
With Caseware, once you post the adjusting journal entry, it automatically updates everywhere the information is linked in your system – from your trial balance to your financial statements. This automatic linkage of information can significantly cut down on both your error risk and your audit workload.
Put Information at Your Fingertips
When you are working with a large number of files, finding information that you need is a substantial chore.
Caseware puts all of your support information at your fingertips. With one source of data, you have immediate access to your trial balance and all supported working papers quickly and simply. This makes your activities completely transparent, with backup documents readily available if questioned by a stakeholder or during an audit. Searching for documents is also reduced to a click of a few keys, rather than hours of paper sifting.
Gain better insights
Using Caseware Review, you can use an automated document process to generate reports and analytics related to your operations and financial activities so that you always have a good view of how your organization is performing. You can use these insights to make better strategic decisions.
The data used as part of this process can be manually constructed or imported from a large number of different accounting systems.
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