Acquisition further enhances Caseware’s automation and AI capabilities to improve customer productivity

TORONTO, January 21, 2025: Caseware, a global leader in cloud-enabled audit, financial reporting and data analytics solutions, today announced the acquisition of Extractly.ai, the provider of intelligent document processing solutions that streamline the audit process for accounting and finance teams. Founded in 2021, Extractly.ai offers solutions that understand and process accounting and financial documents, delivering actionable results and enabling automated workflows.

This strategic acquisition includes Extractly.ai’s proprietary software solutions, Validate and Extractly+ which are available in all English-speaking markets. Plans to localize Validate are due to be announced in the future.

Validate’s AI-powered algorithms automate the financial statement review process. The cloud-based solution enables accounting professionals in audit and in corporate financial reporting to automate the tedious task of validating the accuracy of their financial statement reports for mathematical accuracy, internal consistency, prior period consistency and consistency across versions.

Extractly+ optimizes workflows with automated PDF data extraction and document matching, eliminating manual searching and data entry. It delivers reliable data, allowing team members to gain maximum insight via trusted extracted data, resulting in higher-quality outputs completed in less time. Collaborative data access promotes teamwork and informed decision-making by facilitating easy sharing of extracted data among team members, enhancing productivity.

Danielle Supkis Cheek, SVP AI, Analytics and Assurance at Caseware remarked, “Extractly.ai is known for its fast, accurate and secure solutions, capable of processing large volumes of documents with ease. Its advanced technology helps accounting and finance professionals increase efficiency and save valuable time by automating tedious tasks. As Caseware continues to build its connected ecosystem of solutions, customers can expect enhanced integration, seamless user experiences and innovative features that will drive their success. We’re delighted to welcome Alastair and the entire Australia-based team to Caseware.”

Damian Wright, National Leader, Audit & Assurance at BDO commented, “Over the past three years, Extractly.ai has revolutionized the way BDO approaches financial statement reviews, seamlessly integrated into our workflows and delivered unparalleled efficiency and accuracy. What started as an innovative solution for our audit teams has expanded into other divisions of the firm. Extractly.ai’s tools, like Validate, have transformed time-intensive tasks, allowing us to reinvest valuable resources into delivering deeper insights and exceptional outcomes for our clients.”

Wright continued, “As Extractly.ai takes its next step with Caseware, a recognized leader in audit technology, we are confident this marks the beginning of an extraordinary chapter. BDO is proud to have been part of Extractly.ai’s journey and is excited for the future innovation this partnership will unlock for firms worldwide.”

Alastair Raphael, former chief executive officer at Extractly.ai commented, “This acquisition opens a world of possibilities for audit professionals, as we combine our strengths with Caseware’s innovative solutions, global reach and industry expertise. Together, we will deliver even more advanced and comprehensive solutions, driving greater value and enhancing the overall customer experience. What our team has accomplished to date has been truly impressive and we are all excited about our next chapter with Caseware.”

This marks Caseware’s ninth acquisition since Hg Capital acquired majority ownership in late 2020. Caseware is committed to delivering exceptional service and value to its customers and will continue to explore global opportunities to strengthen its position in the market.

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About Caseware

Caseware is the leading global provider of cloud-enabled solutions for audit, assurance, financial reporting and data analytics for accounting firms, corporations and government regulators. Caseware’s innovative tools and platforms help more than half a million users in 130 countries work smarter, dig deeper and see further as they transform insights into impact. For more information, visit caseware.com.

Accounting software veteran to lead the company

Industry shifts towards Caseware’s AI-enabled cloud solutions which are driving time savings, higher quality and improved talent retention

TORONTO, January 13, 2025: Leading global audit, analytics and accounting software provider Caseware has today unveiled the appointment of David Marquis as Chief Executive Officer. Marquis transitions to Caseware after five years at Intuit, where he recently led the international division including Canada, Australia, the UK and other non-US markets.

Marquis joins at an exciting time for Caseware, which has reached a unique position as a global leader in cloud audit, assurance, financial reporting and data analytics, selling into over 130 countries.

Caseware’s solutions, uniquely for its industry, are built on a single global cloud platform. The company continues to demonstrate deep innovation in technology through initiatives like the Dynamic Audit Solution (in partnership with AICPA and CPA.com) in the US, and AiDA, Caseware’s AI digital assistant which saves time and maintains the highest data security and compliance standards that Caseware has always delivered for the profession.

“I’m honored to join Caseware, a Canadian tech unicorn with a proud legacy of innovation and a mission to empower audit and accounting professionals worldwide,” said David Marquis, chief executive officer, Caseware. “Together, we have a unique opportunity to redefine the industry, accelerating the benefits that technology can bring to professionals, businesses and the communities they serve.”

Marquis brings a wealth of tech leadership experience from his previous role as a Canada Country Leader for Google. His impressive career also includes an eight-year stint at Bell Canada and foundational roles at Rolls-Royce and The Boston Consulting Group.

Mike Sabbatis, board chair at Caseware commented, “David’s appointment marks an exciting new chapter for Caseware as we continue to revolutionize the accounting and audit landscape. His proven leadership, innovative thinking and deep understanding of both technology and the accounting profession make him uniquely qualified to lead our company into the future. With his expertise, Caseware is well-positioned to deliver even greater value to our customers, leveraging cutting-edge AI and cloud solutions to drive quality, efficiency and enable accountants to practice at the highest level of their certification. As part of this transition, I would like to recognize the contributions of Dave Osborne, our departing CEO, who has played a pivotal role in the transformation, growth and innovation at Caseware over the last few years.”

Alexander Johnson, director at Hg added, “David has joined during an inflection point for the industry, with CPA firms transitioning en masse to Caseware’s cloud products driven by increasing focus on both audit quality and ROI. Firms are enjoying improved automation and accuracy, integration of remote and offshore teams and improved talent retention and attraction via Caseware’s best-in-class software.”

About Caseware

Caseware is the leading global provider of cloud and AI-enabled solutions for audit, assurance, financial reporting and data analytics for accounting firms, corporations and government regulators. Caseware’s innovative tools and platforms help more than half a million users in 130 countries work smarter, dig deeper and see further as they transform insights into impact. For more information, visit caseware.com.

SaaS solution enables automation of complex lease accounting calculations, ensuring precision and simplification 

TORONTO, January 07, 2025: Caseware, a global leader in cloud-enabled audit, financial reporting and data analytics solutions, today announced the acquisition of LeaseJava, a software-as-a-service (SaaS) solution designed and developed by leasing standards experts. Cloud-based LeaseJava enables audit firms, corporations and non-profit/government entities to manage their leases and ensure compliance with accounting standards such as ASC 842, IFRS 16 and GASB 87. These standards were published by the Financial Accounting Standards Board (FASB), the International Accounting Standards Board (IASB), and Governmental Accounting Standards Board (GASB) respectively. 

LeaseJava provides support for lease modifications without the need to create a new lease, as modifications can easily be added to existing leases, considerably simplifying the process for auditors. The solution can handle complex and nuanced scenarios, computing details down to the daily level and aggregating them to manage intricate situations. Export functionality is configurable, allowing the user to select and group leases accurately. Additionally, LeaseJava offers weighted average computation and a bulk import feature to enhance ease of use. 

Caseware’s US customers will be the first to benefit from LeaseJava. The organization also plans to extend the solution’s availability to other markets, including Canada and the UK.  

David Osborne, chief executive officer of Caseware remarked, “With accounting standards requiring detailed lease reporting, LeaseJava helps auditors ensure that companies are fully compliant. We are proud to partner with Michael Cheng, a respected and visionary leader in the world of audit who conceptualized the LeaseJava solution. The automation of complex lease accounting calculations delivers precision and simplification, handles large datasets with ease and saves significant time that can be allocated to other critical tasks.” 

Osborne continued, “This acquisition underscores Caseware’s commitment to enhancing its connected ecosystem, artificial intelligence strategy and the provision of an even more comprehensive suite of trusted, innovative solutions. Customers can look forward to a seamless experience and the continued evolution of the Caseware family of products, enabling them to effortlessly manage their workflows and do their jobs better than ever before.” 

Prior to becoming partner at Frazier & Deeter LLC, Michael Cheng was a senior project manager with the FASB and, in 2022, was appointed to the Private Company Council (PCC) for a three-year term, effective on January 1, 2023. 

Cheng commented, “I co-developed LeaseJava to solve the issues I was experiencing with lease computations along with Venkat Avasarala, Partner and CEO of Acuvity Consulting. He played a key role in its development, providing strategic leadership and expertise that were instrumental in shaping the platform’s growth and success.” 

He continued, “The acquisition by Caseware marks a significant milestone for both the solution and the profession. I am confident that the Caseware team, renowned for its innovation and commitment to excellence, will enhance the capabilities of LeaseJava, providing even greater value to users. Caseware’s global footprint and unparalleled ability to deliver expertly crafted technology and domain expertise worldwide, underscores their position as an industry leader.” 

The acquisition marks Caseware’s eighth acquisition since Hg Capital acquired majority ownership in late 2020. Caseware is committed to delivering exceptional service and value to its customers and will continue to explore opportunities to strengthen its position in the market. 

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About Caseware  

Caseware is the leading global provider of cloud-enabled solutions for audit, assurance, financial reporting and data analytics for accounting firms, corporations and government regulators. Caseware’s innovative tools and platforms help more than half a million users in 130 countries work smarter, dig deeper and see further as they transform insights into impact. For more information, visit caseware.com.  

Collaboration accelerates audit process enhancements and boosts efficiency for firms

TORONTO – November 19, 2024: Caseware, a global leader in cloud and AI-enabled audit, financial reporting, and data analytics solutions, has announced a strategic partnership with Validis, a leading accounting data extraction and standardization tool. This collaboration will provide audit firms with powerful data ingestion tools that deliver audit-ready data from diverse sources; clean and readily available for analysis.

Validis is already a trusted partner for numerous large audit firms, providing them with instant access to business data from major accounting systems. Now, through the integration with Caseware, this capability will be extended to customers of Caseware’s cloud-based platform in the US and, ultimately, across the globe in markets including Canada, UK, Australia and New Zealand.

Automated data collection, cleansing, and standardization offers several compelling benefits for organizations looking to harness the full potential of their data, not least the reduction in time and effort required to gather, clean, and standardize data. This allows firms to focus on analysis and decision-making rather than data preparation. The standardized data makes it easier to identify anomalies, assess bookkeeping quality, and analyze trends across client portfolios. In addition to being more accurate, consistent and delivering data of a higher quality, automated systems can handle large volumes of data efficiently, scaling up as volumes grow – particularly important for organizations dealing with big data.

Automation helps ensure that data processing adheres to regulatory requirements and industry standards, reducing the risk of non-compliance. Simultaneously, audit professionals are empowered to focus on deriving quality insights and creating value instead of being overwhelmed by routine data management tasks.

Davis Jackson, chief commercial officer at Caseware stated, “Quality data is the cornerstone of our vision at Caseware. It fuels our commitment to deliver precise, insightful, and transformative solutions for audit and accounting professionals. By ensuring the highest standards of data integrity and accuracy, we enable them to make informed decisions, drive innovation, and achieve unparalleled results. Our collaboration with Validis amplifies our commitment to empowering accounting professionals to do their jobs better than they ever have before.”

Jeff Gramlich, managing director accounting at Validis added, “We’re excited to collaborate with Caseware to deliver audit-ready data through our cutting-edge standardization capabilities. This partnership provides auditors with the data breadth and granularity crucial for delivering a data-driven audit. By integrating our technologies, we’re empowering auditors to conduct data-driven audits with enhanced efficiency and risk analysis, ultimately transforming the process to benefit both auditors and their clients.”

The partnership between Caseware and Validis reflects their shared commitment to fostering meaningful collaborations that drive innovation, expand market reach, and enhance competitive advantage. Beyond the strategic benefits, both organizations have elected to work alongside like-minded teams who are equally dedicated to achieving the best outcomes for audit and accounting professionals.

About Caseware

Caseware is the leading global provider of cloud-enabled solutions for audit, assurance, financial reporting and data analytics for accounting firms, corporations and government regulators. Caseware’s innovative tools and platforms help more than half a million users in 130 countries work smarter, dig deeper and see further as they transform insights into impact. For more information, visit caseware.com.

About Validis

Validis is an award-winning secure data ingestion platform that enables instant access to business data from major accounting packages. Their cutting-edge data extraction capabilities provide accounting professionals with high-value insights and drive efficiency in their operations.

Caseware announces dual launches for the UK market at customer event 

LONDON – October 15, 2024 – Caseware, a global leader in cloud-enabled audit, financial reporting and data analytics solutions, today announced the UK launch of Caseware AiDA, its Artificial Intelligence digital assistant. As the latest enhancement to the industry-leading Caseware Cloud platform, AiDA complements Caseware’s comprehensive suite of solutions created with accounting, audit and finance professionals in mind.  

AiDA is designed to enhance efficiency, ensure compliance and provide precise, context-aware responses to profession-specific enquiries enabling accounting, audit and finance experts to work more efficiently, collaborate with greater effectiveness and gain deeper insights.  

Whether providing timely responses to methodology or compliance questions, supporting the processing and analysis of audit evidence, or assisting with the production of key audit workpapers and deliverables, AiDA empowers professional users to achieve more with less effort. This will, in turn, drive practice growth and power the financial success of clients. 

Some of the benefits to be gained from Caseware AiDA include: 

• Enhanced workflow efficiency with precision and relevance – whether summarizing lengthy PDFs or providing informed answers about your documentation in the moment, AiDA helps you work smarter, not harder. 

• Reassurance around security and compliance – with AiDA, no prompts are stored or fed back into the model. Users can trust AiDA to maintain the highest data security and compliance standards that Caseware has always delivered for the profession. 

• Assistance with routine tasks – AiDA assists with mundane tasks, enabling professionals to focus on strategic decision-making.  

• Focus on quality output – AiDA delivers a safe and fit-for-purpose resource which ensures efficient workflows for clients.   

Simon Warren, Head of Global Solutions at Caseware remarked: “Already available in the United States, Canada and Australia, we’re delighted to bring Caseware AiDA to UK customers. Soon, AiDA will be a core component of all cloud-enabled solutions, across all regions. AiDA is poised to revolutionize task management for accounting and audit professionals, providing unmatched digital assistance.” 

Separately, Caseware also announced the availability of its Environmental, Social and Governance (ESG) reporting solution, representing a significant milestone in Caseware’s commitment to supporting firms with sustainability reporting across all stages – from scope determination and data collection to report creation. Already available in several markets in Europe, Caseware’s innovative solution will now provide customers in the UK with the tools they need to fulfill their obligations and streamline the process with ease. 

The Caseware solution is compliant with the EU Corporate Sustainability Reporting Directive (CSRD) standards and, at this time, will mainly be relevant for Corporates – and audit companies supporting Corporates – who are in scope of the CSRD¹.  

Simon Warren commented, “Caseware’s ESG reporting solution is essential for customers who need to comply with the demands of these new corporate monitoring and reporting standards. These can cover a range of topics including environmental matters, governance around employee mental health, LGBTQ concerns and much more. When the UK finalises its own ESG standards in the coming months, we will incorporate these aspects into the solution. In the new year, we plan to launch an audit solution which will facilitate report auditing for practices.” 

CwX London gathers Caseware customers, partners and industry leaders together to celebrate this year’s theme, Powering Your Plans. CwX fosters an environment of excellence, innovation and collaboration featuring the latest emerging technologies, thought-provoking discussions, expert keynote speakers and educational sessions. The event will be hosted by Rob Brown, globally renowned presenter, author and chair of high-level conferences, panels and events for the accounting and fintech profession. 

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Footnote 

These are: 

• All companies that have securities listed on an EU regulated market (including listed small and medium companies); 

• All EU companies or EU companies that are a parent of a large group (‘EU subgroup’) that exceed two of the three following criteria (as per the Accounting Directive 2013/34/EU as amended in 2023 to increase the thresholds) on two consecutive annual balance sheet dates: 

• More than 250 employees during the financial year 

• Balance sheet total of more than €25 million 

• Net turnover of more than €50 million; 

• non-EU companies generating a net turnover of more than €150 million in the EU and: 

• Having a subsidiary in the EU that meets the criteria applicable to EU companies (ie, being listed on an EU regulated market except micro, or being a large EU company or subgroup as per the Accounting Directive thresholds); or 

• A branch in the EU generating more than €40 million net turnover in the preceding year; 

• Some small and non-complex credit institutions and some captive insurance and reinsurance undertakings. 

Source: ICAEW 

Customers, Partners and Industry Leaders Come Together to Celebrate This Year’s Theme: Powering Your Plan

NEW YORK – October 2, 2024 – Caseware, a global leader in cloud-enabled audit, financial reporting and data analytics solutions, celebrates the return of its annual CwX events today with its US edition taking place at Lotte New York Palace in New York City.

CwX New York gathers Caseware customers, partners and industry leaders from around the world to celebrate this year’s theme, Powering Your Plan. The event shines a light on the achievements of customers, explores advanced technologies and showcases how Caseware enables members of the accounting profession to do their jobs better than they have ever done before. 

CwX fosters an environment of excellence, innovation and collaboration, featuring the latest emerging technologies, thought-provoking panel discussions, expert keynote speakers and educational sessions. The event will be hosted by Rob Brown, globally renowned presenter, author and chair of high-level conferences, panels and events for the accounting and fintech profession.

Rob Brown commented, “Events like Caseware’s CwX are crucial for the accounting profession. They provide a unique platform for professionals to exchange ideas, stay updated on the latest industry trends, and collaborate on innovative solutions. These gatherings drive the profession forward by encouraging continuous learning and adaptation in an ever-evolving landscape. Attendees leave with practical takeaways that they can immediately apply to enhance their firms and better serve their clients.”

Brian Heath, VP, Marketing at Caseware remarked: “We believe that the future of audit and accounting is built on Caseware, and CwX New York is just one example of our commitment to building strong, lasting relationships with our customers. It’s an invaluable opportunity to connect, share insights and collaborate on innovative solutions that drive the profession forward. Caseware’s CwX events are always memorable and we believe that by bringing our community together, we can inspire growth and foster a deeper understanding of the unique opportunities and challenges our customers face.”

The CwX event series will continue to tour the globe with the next edition taking place in London on October 15, 2024.

About Caseware 

Caseware is the leading global provider of cloud-enabled solutions for audit, assurance, financial reporting and data analytics for accounting firms, corporations and government regulators. Caseware’s innovative tools and platforms help more than half a million users in 130 countries work smarter, dig deeper and see further as they transform insights into impact. For more information, visit caseware.com. 

Cloud-based financial reporting solution from Caseware marks advancement in financial reporting technology

MELBOURNE, September 24, 2024: Caseware, a global leader in cloud-enabled audit, financial reporting and data analytics solutions, today announced the launch of Caseware Financials for the Australian market. The new, innovative cloud-based application is designed to transform the financial reporting process, providing corporations with an efficient, compliant and streamlined solution for meeting both local and global reporting standards.

Following a successful launch in the UK earlier this year, Caseware Financials arrives in Australia to simplify the complex and time-consuming tasks often associated with mandatory financial reporting. Caseware Financials leverages advanced automation, seamless data integration and robust compliance capabilities that reduce errors, save time and enhance accuracy—ultimately enabling finance teams to focus on strategic decision-making and value creation.

Caseware Financials integrates directly with Australia’s most widely used accounting systems. It also allows companies to easily import trial balances via Excel or CSV, eliminating the need for manual data entry. The platform uses intelligent automation to analyse imported trial balances and automatically populate the necessary disclosures, significantly reducing the time and effort required from finance teams to produce accurate reports. This automation allows professionals to focus on higher-value activities that benefit the business.

The debut of Caseware Financials follows the availability of Caseware AiDA, the Artificial Intelligence digital assistant for customers in Australia. AiDA complements Caseware’s comprehensive suite of solutions created with accounting, audit and finance professionals in mind. 

Key features of Caseware Financials include:

• Automatic drafting of financial statements
• Built-in review tools with warnings and diagnostics
• Simplified data imports with intelligent mapping suggestions
• Carry forward functionality
• Multi-user access for enhanced collaboration

​”We are excited to introduce Caseware Financials to the Australian market,” remarked Andreas Ong, Head of Development at Caseware Australia. “The suite is extremely versatile, enabling organisations to customise the solution to meet their unique reporting needs, which can differ greatly in complexity based on the size of the business.” 

Craig Waldon, General Manager at Caseware Australia, continued, “We are confident that the adaptability of the suite, powered by our strong technology, will establish a new benchmark for financial reporting in Australia. Caseware Financials ensures the full reconciliation of all financial statements and supporting notes, even at the account-level rounding stage. This consistency prevents discrepancies that could raise concerns during audits and builds stakeholder confidence in the accuracy of financial reporting.”

Featuring comprehensive review tools, Caseware Financials allows users to track changes from the base template and compare different versions of financial statements. This ensures transparency and control over the reporting process, minimising errors and improving the integrity of the final report.

Designed to meet local compliance requirements, Caseware Financials includes content crafted exclusively for Caseware by Carmen Ridley, Caseware Australia’s financial reporting subject matter expert. Carmen is a former member of the Australian Accounting Board (AASB). Built to meet Australian Charities and Not-for-profits Commission (ACNC) reporting requirements, the solution caters to Tier 1, Tier 2 and special-purpose reporting needs.

About Caseware 

Caseware is the leading global provider of cloud-enabled solutions for audit, assurance, financial reporting and data analytics for accounting firms, corporations and government regulators. Caseware’s innovative tools and platforms help more than half a million users in 130 countries work smarter, dig deeper and see further as they transform insights into impact. For more information, visit caseware.com. 

ESG reporting app now available for Netherlands, Belgium, Luxembourg and Denmark

NETHERLANDS, September 9, 2024: Caseware, a global leader in cloud-enabled audit, financial reporting and data analytics solutions, today announced the launch of its Environmental, Social, and Governance (ESG) reporting application for the Netherlands, Belgium, Luxembourg and Denmark. Currently available in English but with plans to deliver local language capabilities in the coming months, the ESG app represents a significant milestone in Caseware’s commitment to supporting firms with sustainability reporting across all stages – from scope determination and data collection to report creation.

Companies in Germany have benefitted from the Caseware ESG app since its launch in October 2023. Customers report that the app offers clear guidance throughout the implementation process, ensures accuracy of documentation and tracking at each stage, and facilitates a streamlined reporting experience overall.

A reporting obligation has been in effect for large capital-market-oriented companies since 2017. The Corporate Sustainability Reporting Directive (CSRD) extends the obligation to large non-capital-market-oriented companies starting in fiscal year 2025 and to small and medium-sized capital-market-oriented companies starting in 2026. Over 49,000 European companies must start submitting sustainability reports by 2026 at the latest.

Companies that are required to submit an ESG report for the first time in 2026 for fiscal year 2025 should address the subject now to understand the requirements arising from the CSRD and implement suitable processes and systems.

“New laws and regulations are making CSRD reporting increasingly vital, yet its implementation remains highly complex,” said Joost Ekkelboom, Managing Director Caseware Netherlands and Head of Commercial, Caseware Europe. “Our goal in simplifying reporting and providing actionable insights is to enable firms to contribute to a more sustainable future while maintaining compliance and enhancing their reputation.”

Key features of the ESG app:

• Materiality analysis: The app provides a workflow to carry out the company materiality assessment based on the European Sustainability Reporting Standards (ESRS) to determine the exact disclosure requirements to be reported for a reporting year.
• Information collection and collaboration: The app facilitates an integrated process and the full content of the 12 ESRS to gather each specific item of required information per the defined disclosure requirement. It enables collaboration between all individuals in the company who are responsible for a specific requirement. Documents and information can be requested by using predefined queries directly within the app.
• Building the report: Based on the materiality assessment and the information obtained, the app outputs text modules used to build the report. The output will be a report with customized wording. 
• XBRL tagging and mapping for ESEF filing: Provides benefits such as improved consistency, transparency, comparability and accessibility for users of the report as well as ensuring faster, machine readable non-financial reporting, better data quality and reduced manual errors.

“The launch of the ESG app marks a significant milestone in addressing the increasing need for clear and reliable ESG reporting,” says Heike Kramer, Business Development Manager, Caseware Germany. “There is a substantial need for support in establishing a strong and precise process for complete ESG reporting, especially as the CSRD imposes considerably greater requirements on companies. Caseware’s innovative solution will give customers across Europe the tools they need to fulfill their obligations and streamline the process with ease.”

For more information, please visit the Caseware ESG website.

About Caseware Caseware is the leading global provider of cloud-enabled solutions for audit, assurance, financial reporting and data analytics for accounting firms, corporations and government regulators. Caseware’s innovative tools and platforms help more than half a million users in 130 countries work smarter, dig deeper and see further as they transform insights into impact.

Fractional audit experts from CPAClub and advanced Caseware technology deliver streamlined compliance with new quality management standards 

Irvine, CA – August 21, 2024 – CPAClub, an Accounting Today Top New Product, and Caseware, a global leader in cloud and AI-enabled audit, financial reporting and data analytics solutions, today announced a collaboration that combines CPAClub’s award-winning CPAs-as-a-service model with Caseware’s advanced quality management technology, Caseware SQM. This partnership aims to provide accounting firms with both the top-tier human capital and best-in-class technology to navigate and implement new quality management standards issued by professional bodies in the United States and abroad. 

Transforming Quality Management 

The release of the International Standard on Quality Management (ISQM) and the Canadian Standard on Quality Management (CSQM) marked a significant shift in quality management practices for firms. Following these developments, the Auditing Standards Board of the AICPA introduced its own new suite of quality management standards in June 2022. These standards compel firms to ensure their quality control systems are able to comply with more stringent criteria by December 15, 2025. Acknowledging the significant effort needed, the AICPA stressed the importance of prompt action to meet the deadline, further heightened by the PCAOB’s recent release of its own quality control standard. 

Navigating Challenging Quality Standards Amid a Talent Shortage 

The emergence of multiple quality management standards poses a significant challenge for accounting firms, especially against the backdrop of the talent shortage in the profession. Recognizing this issue, CPAClub and Caseware offer a unique combined solution. CPAClub provides fractional access to its experienced chief auditors and audit quality experts, empowering firms to navigate the new standards effectively, while Caseware enhances efficiency and effectiveness through its robust, intuitive, cloud-based quality management tools.

“The new standards represent a transformative shift for the accounting and auditing profession, presenting a significant challenge for firms already stretched beyond capacity,” says Brian Yujuico, vice president at CPAClub and one of CPA Practice Advisor’s 20 Under 40 Top Influencers. “Through our collaboration with Caseware, we’ve crafted a strategic solution that enables firms to navigate these changes efficiently and confidently.” 

Strategic Partnership

As part of this partnership, CPAClub will become the preferred partner for the delivery of onboarding, training and implementation for Caseware SQM in the U.S. CPAClub will assist firms in designing and implementing their new system, offering professional onboarding and training services. Meanwhile, Caseware will oversee software licensing for the technology, ensuring firms have access to the necessary tools to meet their compliance obligations. 

Rohit Kundu, sales director for North America at Caseware, remarks, “Caseware is excited to partner with CPAClub, bringing together our innovative SQM technology with their expert fractional audit services. Together, we will offer a comprehensive solution that empowers firms to achieve seamless quality management compliance.” 

Concierge Approach to Quality Management 

CPAClub offers a customized journey through monthly, season or annual access passes led by experienced chief auditors. Built on a risk-based and scalable approach, CPAClub guides firms through establishing quality objectives, identifying and assessing quality risks and designing and implementing effective responses. Throughout the journey, CPAClub’s chief auditors use a concierge approach to collaborate with firms, ensuring a tailored implementation of the new quality management system. Post-implementation, CPAClub offers ongoing support with proactive monitoring and adaptation to new regulations or emerging quality risks. 

New integration to speed up year-end compliance for Canadian accountants and bookkeepers

Toronto — August 14, 2024 — Xero, the global small business platform, today announced a new integration partnership with Caseware, a global provider of cloud-enabled audit, financial reporting and data analytics solutions for accounting firms, corporations and government organizations.

Announced at Xerocon Nashville – Xero’s flagship partner event held on August 14-15 – the partnership will offer Xero and Caseware’s shared customers a solution where they can import trial balances and general ledger data from Xero into Caseware Working Papers. This expands the existing integration between Xero and Caseware’s cloud apps, which offers additional capabilities between Xero and Caseware’s cloud suite of assurance and financial reporting solutions. The integration will help reduce the need to manually export and import files between the two systems, saving time and minimizing manual data entry needs for customers.

The new integration, which will be available to accountants and bookkeepers in Canada (and additional regions) later this year, will help accountants and bookkeepers to complete their year-end compliance requirements faster.  

“This partnership is another step forward in Xero’s commitment to making year-end workflows more streamlined in Canada. These compliance tasks create a huge amount of work for accountants and bookkeepers each year, but by partnering with powerful solutions such as those offered by Caseware, practices can connect their tools to help ease the year-end burden,” said Ben Richmond, Managing Director of North America, Xero. “Ultimately, this frees up time for advisors to better serve and advise small business clients and grow their firms.”

As part of the agreement, Xero and Caseware will explore further integration opportunities for their bookkeeping efficiency tools.

Scott Epstein, Chief Product Officer at Caseware remarked, “We’re confident in the value that Caseware’s customers will receive as a result of this partnership. Xero’s efficiency tools for trial balance preparation, paired with Caseware’s capabilities around year-end assurance and reporting work, will continue to enhance quality and save time for accountants and bookkeepers. Against a backdrop of continuous change, we know that we will continue to enable accountants and bookkeepers to do their jobs better than they ever have before.”