What is Caseware Verity for Excel?

Caseware Verity for Excel brings Caseware Verity to Microsoft Excel through Caseware Cloud Connector. Like Caseware Verity in your engagement, it answers questions about the engagement you're working on, drawing from your engagement data, your firm's methodology, and authoritative standards to provide relevant, cited answers without leaving the file.

Caseware Verity for Excel only applies proposed changes after you review and approve them. It doesn't modify engagement content outside the Excel workbook you have open. Everything it produces is a draft for your independent review.

For information on getting started with Caseware Verity for Excel, see Use Caseware Verity for Excel.

How Caseware Verity for Excel answers questions

Caseware Verity for Excel draws from the same sources as Caseware Verity and works with the Excel workbook you have open:

• Your engagement — Caseware Verity reads your live engagement data, including the trial balance, financial statements, risks and controls, materiality, adjustments, issues, checklists, engagement properties and uploaded documents (PDF, Word and Excel).

• Your firm's knowledge bases — If your firm has uploaded methodology, procedures or guidance, Caseware Verity draws from those when relevant. See Create firm-managed knowledge bases.

• Authoritative standards — Caseware Verity draws from Caseware-published knowledge bases, including AICPA authoritative standards for US engagements in solutions where available.

• Your workbook — Caseware Verity reads the content of the workbook you have open and can draft new content into it when you ask, with your approval.

Every response includes citations so you can trace each answer back to its source.

What Caseware Verity for Excel can help with

Caseware Verity for Excel is most useful for workpaper tasks performed in Excel, such as building schedules from engagement data, populating firm templates, checking client-provided figures, reviewing your work, and answering technical questions without leaving the file.

Here are a few example use cases:

• Prepare and complete audit testing workpapers

  Turn a blank workbook into a fully documented audit workpaper with a single prompt. Caseware Verity pulls from audit procedures, financial data, and other engagement context from the audit file, then examines the supporting documentation for each item tested. For example, it can vouch expense samples to supplier invoices, agree cash and bank balances to statements and confirmations, and agree accounts receivable balances to customer confirmations and subsequent cash receipts.

• Extract key information across documents

  Pull key terms from documents directly into your workpaper, saving hours of reviewing hundreds of pages. For example, extract lease terms, monthly payments, and renewal options from a batch of lease agreements; pull interest rates, maturity dates, and covenant terms from a set of loan agreements; or capture contract terms, pricing, and renewal notice periods across a folder of customer contracts.

• Review your workpaper and suggest improvements

  Check your work against procedure or checklist requirements and other information in the audit file to identify errors and inconsistencies before a manager reviews it.

• Generate statements, schedules, and leadsheets based on client financial data

  Generate financial statements, schedules, leadsheets, and other worksheets from engagement data. Perform analytical reviews, including ratio, trend, and variance analysis, using client financial data.

For step-by-step examples, see Use Caseware Verity for Excel.

What Caseware Verity for Excel does not do

Caseware Verity for Excel doesn't change your engagement content outside of the Excel workbook you are working within. It doesn't write to checklists, risks, financial statements or any other engagement data. It drafts content only into the Excel workbook you have open, and only after you approve each change.

Caseware Verity for Excel doesn't replace professional judgment. It surfaces information and drafts content to support your work, but responsibility for conclusions and documentation remains with you.

Availability

Caseware Verity for Excel is available to Caseware Cloud firms with Cloud Connector. Access requires the Cloud Connector add-in and a Caseware Verity license, both enabled by a firm administrator on a per-user basis.

Your data and privacy

Caseware Verity for Excel operates within your Caseware Cloud environment. Your firm's data isn't used to train AI models, isn't shared between firms and doesn't leave your Caseware Cloud environment. Chats are scoped to you and your engagement. Other users in your firm can't see your threads.

For answers to common questions, see Caseware Verity for Excel FAQ and troubleshooting.