Caseware IDEA® : Corporate, Public Sector & Governance

Perform Root Cause Analysis & Protect Revenues

A Consolidated View of Your Financial Controls

Testing controls from many departments without data analytics puts your organization at risk for fraud, policy abuse, and wasted profits. Prevent this by using a solution that easily connects to multiple financial processes and applications. This consolidated view eliminates blind spots, stops improper payments and automates reconciliations to transform your team from operations to strategic advisors. Elevate your finance department by using our solution to:

Analyze 100% of transactions in less time from multiple sources seamlessly
Collaborate with the entire finance team to share data analysis insights in real-time
Quickly identify suspicious or fraudulent transactions in areas such as general ledger, payroll and travel & entertainment (T&E) expenses
View data in customizable panels within shareable dashboards for quick identification of risk areas

Data Analytics for Fraud Detection

Fraudsters become increasingly IT-savvy and threats from cybersecurity increase every year – exposing organizations to potential vulnerabilities. We arm you a robust solution that enables you to be vigilant, granular, and efficient to effectively uncover criminal activity. While the amount of risk grows, leveraging data analytics allows you to:

Analyze 100% of the data to locate any trace of illegal activity
Act agile to reassess the fraud risk management strategy and react quickly to the changes the organization is facing
Access 100+ common audit functions including Benford’s Law, Fuzzy Duplicate, Ghost Employee Analysis, plus many more
Record every step of your analysis so you have a clear audit trail and can repeat the process for future analysis

Data Analytics for Governance

A basic data analytics solution attributes to blind spots, a disjointed strategy and low-quality information affecting management, and potentially the entire organization. Prevent this with our integrated solution. We provide a consolidated view of disparate systems and processes allowing you to destroy silos, cut costs, and produce timely reports. Ensure that strategies are implemented effectively and systematically by using our data analytics to:

Present results and insightful statistics in shareable dashboards based on audit intelligence
Analyze 100% of the data using risk-based industry-specific audit routines available in pre-packaged apps driving better information quality
Access 100+ audit ready features and insights without having to write scripts to enable users to gather information quickly and efficiently
Connect to your existing cadre of audit technologies MS® Excel, MS® Access, IDEA®, ACL™ and Arbutus

Data Analytics for Risk

Map the uncertain terrain of the future, and mitigate risk with deep and well-informed insights – all backed by data. Our solutions allow auditors to thoroughly understand current and emerging threats by allowing GRC teams to:

Use artificial intelligence and machine learning to identify patterns of fraud such as ghost employee analysis, and payment of fuzzy duplicate invoices
Run a trend analysis and visualize changes in vendor payments or location
Pinpoint data irregularities for deeper insights
Develop a searchable database to uncover non-compliant terms such as “gifts”
Protect the organization against financial, operational and reputational risks

Data Analytics for Compliance

Complying to industry standards and government regulation is essential for any organization’s success. However, time-strapped professionals who may face hurdles adhering to policies can leverage our data analytics to:

Better manage risks using analytics tools that detect fraud, measure the strength of internal controls and evaluate compliance
Identify potential areas of vulnerability to mitigate financial and compliance risks effectively
Leverage automated analytics to dig deeper into data without requiring more time

Accounts Payable & Data Analytics

With the high volume of transactions and the risks associated with the Accounts Payable function such as late invoices, illegal payments, and missing items – it’s crucial to utilize analytics to isolate any potential fraud. Present accurate information and make auditing Accounts Payable easier with tests such as:

Mechanical Accuracy and Valuation
Analysis
Exception Tests
Gaps and Duplicate

Accounts Receivables & Data Analytics

Accounts receivable is a company’s largest, current asset – it’s crucial to examine this function effectively. Our solution gets you there by providing 100+ common audit functions. Pick up old invoices, unmatched cash, and large balances by using exception tests to:

Profile debtors using stratification to see how many large debts there are and what proportion of value is in the larger items
Identify old items (e.g., > 3 months old)
Identify large balances either in their own right or compared to turnover
Select accounts for which no movements have been recorded in a set time
Report credit balances

Data Analytics for Payroll

Payroll fraud is the number one source of employee theft according to the AFCE – affecting 27% of all businesses. Although you face high transaction volumes and ever-changing regulations, combat potential loss with our integrated suite. Analyze payroll data to execute trend analysis, and identify data anomalies to quickly uncover illegal activity by using audit functions to:

Identify employees that are active and are not receiving a basic salary
Discover employees being paid after their employment contract has ended
Uncover ghost employees by detecting payments being made to employees that are not reconciling to other independent data sources

Data Analytics for Tax

Information from disparate systems and changing regulations stand in the way of performing an efficient and thorough tax analysis. Avoid penalties and overpayments, and reduce the disruption of the taxpayer’s business activities with data analytics. Our solution allows you to examine multiple sources of data as they were one. Manage both structured, internal data from the ERP solution, and external, unstructured data. Transform your tax team by using data analytics to run simple tests to:

Reconcile check register to disbursements by vendor invoice
Select and report details of various types of account and compare with the rate of turnover
Summarize invoices by a supplier to provide individual balances
Create an activity summary for suppliers with duplicate products
Generate cash requirements by the bank, period, product, vendor, etc

Key Features

Connect & Consolidate

Import information seamlessly and easily from almost any data source, in almost any format.

Source Data Protection

Protect source data integrity with read-only access to all imported datasets.

Deliver Key Insights

Use over 100 audit functions for a robust analysis, including ageing, duplication detection and Benford’s Law.

Risk-based Sample Model

Apply a risk-based sample model using systematic, random or monetary unit techniques, and prioritise areas with elevated risks.

Built-in Workflows

Execute a full suite of analytical tests for Financial audits with the SmartAnalyzer FinApp.

Explore & Visualise

Pinpoint patterns, trends and outliers visually based on the outcomes of tests to focus audit efforts.

Record Every Step

Follow a clear built-in audit trail that allows for repeatable analysis and audit evidence.

Advanced Analysis Using Python

Incorporate advanced analytics in the analysis process with Python scripting support.

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Caseware IDEA®

The trusted tool for internal & external audit data analysis and general data analytics.

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