Transcript Slide 1

Introducing CaseWare
Bob Cuthbertson
Chief Operating Officer
CaseWare IDEA Inc.
CaseWare
• Founded in 1988.
• An industry leader in providing technology solutions for
finance and accounting, governance, risk and audit
professionals.
• Over 250,000 users of our technologies across 130
countries and 16 languages.
• Over 300 employees in offices in Toronto, Ottawa, the
Netherlands, UK and China.
• Customers include Fortune 500 and Global 500
companies as well as Governments, Big Four and other
major CPA firms.
CaseWare
• Operates as two main divisions:
– Financial Reporting/Engagement Management
– Analytics/Monitoring
CaseWare
• Operates as two main divisions:
– Financial Reporting/Engagement Management
• Software product solutions for:
– corporate and government financial reporting
» IFRS, XBRL
– CPA firm management – engagement documentation, client
and billing management
– Analytics/Monitoring
CaseWare
• Operates as two main divisions:
– Financial Reporting/Engagement Management
– Analytics/Monitoring
• Software product solutions for:
– Data analytics
– Continuous auditing
– Continuous monitoring
CaseWare
• How did we get here?
– Formed originally to develop desktop working
paper software for CPA firms
– Expanded internationally to become leading
global supplier
• Strong, local competitors, but nobody with a global
reach
CaseWare
• How did we get here?
– Acquired IDEA – Data Analysis Software in 2000
• IDEA history:
– developed as a prototype by the GAO equivalent in Canada
– licensed by CICA , the AICPA equivalent in Canada
– continued development with assistance from major users, e.g.
BDO
• Leading product in many markets, #2 in North America
CaseWare
• How did we get here?
– Acquired SymSure Continuous Monitoring in
2010
• Rebranded as CaseWare Monitor
• Undergoing extensive redevelopment
• Similar to IDEA at the time of acquisition– innovative
product without sufficient resources to develop to full
potential
CaseWare
• Development model – in line with IT development
“Glass
house”
“Personal”
computing
Server
(centralized)
Networked
computing
Server
(cloud)
Browser
/Mobile
CaseWare
• Development model – in line with IT development
Ad hoc
analysis
Ad hoc
analysis
Central data
store and
processing
Repetitive
analysis ->
automation
Collaboration
Scheduling,
notification,
issues
management
Financial Reporting
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Standard
Solution
IFRS
CaseWare IFRS Financials
GAAP
CaseWare GAAP Financials
GASB
CaseWare GASB Financials
XBRL
Fully-embedded XBRL solution
Audit Management
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Challenge
Solution
Management
CaseWare Audit
Supervision
CaseWare Review
Time and Billing
CaseWare Time
Collaboration
CaseWare Collaborate
Risk Management
• Definition of Risks and Controls
• Online Community
IFRS/GAAP Reporting
Consolidation Accounting
Compliance
• IFRS
• Documenting Compliance
• GAAP
• Extensive Notes Library
• Integration with (internal) audit
checklists , work programs, etc.
• Extremely Flexible
• Export to best-of-breed tax package
Document Manager
• Documentation
• Security & User Management
• E-mail/Tasks/Appointments
• Leadsheets
• Journal Entries
Account Standardization
Mappings/Groupings
• Trial Balance
• Reports
• Financial Statements
Import Formats (from multiple systems)
Microsoft Excel
ASCII
Accounting Software
XBRL
Reporting Systems
• Key components:
– Comprehensive risk and control tracking system
including:
• Risk Reports
• Control Matrices
• Management Reports
– Financial Statement Worksheets.
– Easy update process.
Document Management
•
•
•
•
•
•
•
Organize electronic documents
Secure electronic assets
Assign team members to documents
Annotate, tag, filter
Assign and track Issues
Synchronize
Sign-off
Data Analytics
Case Study: Vectren
Solution
• Perform exception auditing on 100% of data,
quickly and easily
Results
• Effectively analyzed procurement cards, fuel
cards, financials and Accounts Payable data
Efficiency and Security
Case Study: Cardinal Health
• Largest healthcare company
(7th worldwide):
–
–
–
–
Invested in other vendors
Solutions did not deliver
Highly scalable infrastructure for business agility
High performance requirements
• Using one IDEA Server for:
– Eligibility assessments
– Tax
– Securing main healthcare related records
Continuous Monitoring
“Over several years, we have implemented Continuous Monitoring applications to
interrogate high volume systems on a regular basis to confirm that our key controls
work effectively. Significant benefits have been returned over time both in control
assurance and the identification and correction of inevitable errors in a high
volume transaction environment.”
Glen Laslett
Group Audit Manager
Metcash
Case Study: Metcash
Solution
• Monitor 100% of all transactions
• Automatically distribute exceptions to
relevant personnel
• Create a wider window of opportunity to
alleviate control breaches and prevent losses
Case Study: Metcash
Results
• Assurance
• Business can act on exceptions immediately
• Quantifiable dollar savings
AUDIT
IDEA
SERVER
BUSINESS
STAKEHOLDERS
COLLABORATION
SECURITY
CONTINUOUS AUDITING
LARGER DATA SIZE
MONITOR
IDEA
IMPORT, EXPORTS, EXTRACTIONS
ANALYSIS, ADVANCED STATISTICS
AUDIT TRAIL, PROJECT OVERVIEW
EXPANSION PLUGINS – SA, EXAMINER
IT TEAM
ORGANIZATION
WORKGROUPS
CONTINUOUS MONITORING
EXCEPTION RESOLUTION
ISSUE MANAGEMENT WORKFLOW
INDIVIDUAL
ETL
ERP SYSTEMS,
DATABASES
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The CaseWare Solution
• Gain insight with CaseWare technology
solutions for financial executives:
– Financial Reporting
– Audit Management
– Risk Management
– Document Management
– Data Analytics
– Continuous Monitoring
Discussion
• Analytics ― not just for auditors
– Why not IDEA in you’re A/P dept.?
• SaaS/Cloud based analytics
– What are your expectations?
• Lower license fees? Lower cost of deployment?
• Trend to centralized analysis, dispersed results
– Use of analyst specialists
Contact Us
[email protected]
www.caseware.com