Overview
What is CaseWare IDEA?
CaseWare in Ontario offers IDEA, a data analysis and data extraction tool supporting audit processes. The vendor states IDEA integrates with various solutions to make obtaining and exporting data easy, such as SAP solutions, accounting packages, CRM systems and other…
CaseWare IDEA Review
IDEA: the auditor's friend
Pricing
What is CaseWare IDEA?
CaseWare in Ontario offers IDEA, a data analysis and data extraction tool supporting audit processes. The vendor states IDEA integrates with various solutions to make obtaining and exporting data easy, such as SAP solutions, accounting packages, CRM systems and other enterprise solutions for a…
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Product Details
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- Tech Details
What is CaseWare IDEA?
CaseWare IDEA Technical Details
Operating Systems | Unspecified |
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Mobile Application | No |
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Reviews and Ratings
(7)Community Insights
- Business Problems Solved
- Pros
- Cons
- Recommendations
Users have found that the software enhances their efficiency in conducting audits by providing a comprehensive suite of integrated tools. The software's intuitive interface allows users to extract in-depth reports, making it easy to access the necessary information. It has been valuable in detecting patterns and trends, aiding in fraud detection and identifying redundant data. Users appreciate the features that facilitate a better understanding of audit requirements and help them navigate the audit process. Additionally, the software has proven invaluable in analyzing financial statements, identifying duplicate files, and enabling thorough analysis of entire data sets instead of relying on sampling.
Latest Technology Leveraging: Users appreciate that CasewareIDEA leverages the latest technology, which has been advantageous for business analytics and auditors in the financial industry. Several reviewers have mentioned that this feature allows them to stay up-to-date with industry trends and effectively carry out their tasks.
Seamless Insights in Trends and Patterns: The ability of CasewareIDEA to seamlessly provide key insights in trends and patterns is highly valued by users. Many reviewers mention that this feature enables them to perform tailored financial audits, making their work more efficient and effective.
Easy Data Transfer from Other Sources: Users find it convenient that CasewareIDEA allows for easy data transfer from other sources. This capability has received positive feedback from several reviewers as it saves them time and effort when conducting audits.
Cons:
- Requires Training: Some users have mentioned that the software requires training to be used to its full capacity, which is expected for advanced business software. It may take some time for users to learn and understand all the features and functionalities of the software.
- Expensive: Several users have found the software to be expensive. The cost of purchasing and maintaining the software may not be affordable for all businesses.
- Lack of User Group and Support: Users have expressed concerns about the lack of an established user group for the software, making it difficult to find support or guidance when needed. This can hinder users' ability to troubleshoot issues or seek assistance in using the software effectively.
Users of the software have made several recommendations based on their experiences. The most common recommendations include:
- Take advantage of the free video lessons.
- Do not give up if the program seems confusing at first and practice using it.
- Give oneself plenty of time to learn and become familiar with the software due to its learning curve.
Users highly recommend the software and believe it is useful for saving time and being productive in auditing. They also suggest that accountants should learn the software as it can minimize mistakes and lower inherent risk in data sorting. Overall, users find IDEA to be an amazing software that is continually improving and would recommend it to others.
Attribute Ratings
Reviews
(1-1 of 1)IDEA: the auditor's friend
- Easy to understand and easy to use.
- Can use on large quantities of data and quickly analyze them.
- Uses logic that can be followed if one is an auditor. I, for example, could understand the logic in a number of samples, i.e how the number of samples thrown changes when risk changes from low to moderate in proportion taking in consideration the materiality.
- Other audit firms are using 2 software for the process that IDEA alone can do. So IDEA has a definite advantage here.
- Customizable by the company.
- One would need some training or guide to understand all the functionalities IDEA has to offer.
2. Analyzing data: You can use it to import large quantities of data, sort them, group them, and analyze them with your set criteria.
3. PIVOTs: Creates pivots of large data with multiple variables.
- IDEA definitely had a positive impact on our overall completion of audits. We used IDEA more than 90% of the time to identify samples or analyze data for testing based on various criteria we would set.