How does it future-proof your business?Caseware Cloud has assisted tremendously over the last few months, as it has enabled staff to work remotely. Furthermore, it has helped with the performance of electronic audits as it has opened up seamless client collaboration. It also provides a cloud based solution with uncapped storage and helps to secure data through cloud based backups. Having this solution permits our firm to be future ready in terms of software update/template changes, for example ISAE Attestation (Attorneys Trusts and Estate Agents) are now only cloud based engagements and are no longer updated on the desktop version of Caseware, therefore, requiring access to Caseware Cloud. This also facilitates our company’s readiness to access any future releases, such as future cloud-based SME and Probe Review engagements. Caseware Cloud has several cloud-based solutions such as CloudSec and CloudTax which it also supports.
We asked MOORE South Africa how Caseware has improved and streamlined its Practice
How has Caseware Cloud Increased Efficiencies?Caseware Cloud has assisted by streamlining and providing a central hub to track audits, store files and interact with clients.
Cloud Experience – what are the savings on time, money, and headcount?Caseware Cloud and Caseware Working Papers Hybrid, working in tandem, are more efficient than working with a stand-alone Caseware Working Papers program. The fact that Caseware Cloud has one central parent copy of a file to which all users have access, permitting live collaboration, as opposed to users working on independent copies of files – saves time, reduces costs and is a tremendous driver of an efficient workflow.
What has Caseware meant to your Audit processes onboarding experience?Caseware’s financial statement and probe templates, assist immensely with the audit process. The former supports the drafting of financial statements and ensures compliance with the relevant International Financial Reporting Standards. The latter probe templates aid in the performance of several engagements including: audits; independent reviews, and compilations.
What is the quality of the work papers?Caseware working papers provide financial statement templates and probe templates of a high quality.
What is offered in terms of compliance and content?The probe audit methodology is compliant with the relevant international standards on auditing; his can be confirmed by perusing the Probe MMX Manual and ISA Mapping documents prepared by Caseware. Moreover, the probe independent review is compliant with the relevant international standard on Review Engagements. The financial statements provide solutions for IFRS , IFRS for SME and IFRS vir KMO standards and also facilitate the construction of the consolidated financial statements. Caseware Cloud also provides cloud based ISAE attestation which permits audits of attorney’s and estate agent’s t rusts, in compliance with the LPC and EAAB respectively.
How does the Cloud and Hybrid solution make a difference to everyday tasks?Cloud and Hybrid solutions assist in enabling an audit team to work on live audits, permitting staff to see live adjustments on a file. It further facilitates live reviews of files and assists in tracking audit engagements from multiple locations. For example, it is possible to check on all engagement teams remotely, irrespective of client location.
World-class compliance and streamlined automation, from any location, on any device, at any time.