Audit Brochure-2008.qxd - Caseware International Inc.

C A S E W A R E A U D I TCombined with CaseWare® Working Papers, Audit is a powerful and efficient "out-of-the-box" solution for completing audit engagements. This templateallows you to propel through external audits smarter and faster than ever before. Proven to streamline the audit process, Audit is a best-of-breedsolution, empowering your team with unparalleled efficiency.Audit comes with many suggested forms, which you can easily customize or add toyour own internal forms. Out of the box, you will discover the following powerfulcomponents:• Risk Analysis Worksheets• Risk Identification and Tracking• Audit PlansAN INTERNATIONAL APPROACH• Audit Programs• Audit Checklists• Other FormsAudit can be customized for your specific audit methodology, risk analysis, workprogram procedures, and workflow content, while still complying with yourjurisdiction's audit requirements.STREAMLINE THE AUDIT PROCESS WITH FIRMCUSTOMIZATIONAudit allows you to standardize and manage the auditing process, increasingcontrol, efficiency, and accuracy. Standardization enables you to implement the levelof control needed for the planning, performing, and completion of engagements.Through the use of Knowledge Libraries, Audit allows for content management onan international, country, and firm level. This unique architecture allows for acentralized global approach to audit engagements.MANAGE RISKS WITH EASERecord, track, and summarize risks with the risk register, a powerful centralized risktracking system. Flexible risk options allow you to define various attributes at riskand display these attributes in various risk reports for individual engagements.Identify risks throughout the audit in any CaseView document and record them inone central location in each client file. Using the Risk Report, all identified risks canbe filtered and sorted in customizable views, giving a clear overview of all identifiedrisks and how they have been specifically addressed in the audit. These risks areautomatically transferred to specific risk documents and can be copied to otherselected audit documents.Customize work program and checklist procedures, create specialized responses tosign off work programs and checklists, and define assertions and global risk types.By assigning trial balances to a firm-customized mapping structure, you canautomatically generate pre-defined leadsheets and analysis documents.MEET IFAC STANDARDS WITH CONFIDENCEAudit comes with ready-to-use IFAC-based auditing content, without requiringadditional customization. The audit approach is completely risk based to meetcurrent auditing standards. Content updates will be available periodically.IMPLEMENT MULTI-LEVEL CONTENT AUTHORINGAdd, modify, or delete content in order to create an international audit methodologythat can be customized to local requirements.This risk-based audit approach is implemented throughout the audit process andintegrated in checklists, audit plans, and work programs.

C A S E W A R E A U D I TLEVERAGE BUILT-IN LIBRARIESAudit comes pre-packaged with extensive Knowledge Libraries of standard auditprocedures, checklists, and audit programs so you're never starting from scratch.Checklists help you to comply with all areas that need to be addressed in theplanning and completion of the audit. Using external specialists and completionchecklists, you can easily handle client acceptance, fraud, and internal control.Audit plans are focused on the planning process ensuring that the audit strategy,risk assessment, and relevant considerations are documented. Audit programsinclude all procedures that must be performed in order to gain sufficient auditevidence.Select from an array of standard documents typically issued to a client or other thirdparties in an audit engagement such as the engagement letter, management letter,and letter of representation. These documents can be customized to match bothinternational and local standards.Knowledge Libraries include version control, allowing existing engagement files tobe updated with recent procedures and questions ensuring the latest standards arebeing utilized.Audit also allows for content management on international, country, and firm levels.This unique architecture allows maximum flexibility to fit your team's needs.Maximize the use of the Document Library feature in Working Papers to simplify theinclusion of the content into existing client files. With this feature, you can easilydrag and drop the updated template content into any existing client file.EXPERIENCE A FRIENDLY, EASY TO USE INTERFACEPrograms and checklists are user-friendly and take advantage of CaseViewtechnology, improving the ease-of-use and customizability of these documents.Audit has point-and-click options, buttons, and pop-ups that make it easy to use.This increases efficiency as the amount of time spent planning and documentingyour audit is greatly reduced.A COST-EFFECTIVE AND PROVEN SOLUTIONWith the rising cost of professional help and staff shortages, Audit can helpstreamline your audit process in a cost-effective manner. Thousands of accountantsare already enjoying the benefits of using this revolutionary product. Not only doesit save you time, but it also projects a professional image to both your clients andyour staff.Access to high quality innovative software can also help attract leadingprofessionals.

C A S E W A R E A U D I TAPPLY AUTOMATED AUDIT NOTESAutomated audit notes allow you to identify and document issues, providing across-reference to the related working paper.UTILIZE THE FINANCIAL STATEMENT AREAWORKSHEETThe Financial Statements Area Worksheet provides your team with an overviewlinking the financial statement areas to business processes and relevant assertions.The financial statement areas can be calculated from any mapping structure,enhancing leadsheet and reporting integration, and allowing materiality to be basedon either the planning/interim balances or the final balances. The worksheet can beupdated throughout the audit to ensure that any changes in account balances areconsidered during the audit process.INTEGRATE WITH FINANCIAL REPORTING SOLUTIONSELECTRONICALLY ACCESS ENGAGEMENT FILESWith easy access to all documents, you can monitor progress, view pending issues,and review the audit even while work is progressing on other parts of the file. Auditis designed to support on-screen performance, documentation, and signing off of allnecessary checklists, audit programs, procedures, and working papers. Features likeannotation, document referencing, and issues management help maintain apaperless office strategy.Audit can be integrated with financial reporting solutions, making the audit andreporting process more cost effective. Integration is possible with CaseWare IFRSFinancials or with many of the available local GAAP reporting templates, which areall supported by our local distributors.LOCAL SUPPORT, TRAINING, AND CONSULTING AVAILABLEGetting answers to your questions is important. To assist you with using thetemplate, CaseWare provides local support packages, training, and consulting.Training can be customized to include not only training on the technical aspects ofthe software, but also to incorporate a firm's audit methodology.For more information or to request a free demo, visit our global website at:www.caseware.com