What sort of data analytics tests might be relevant for audits?

CaseWareAnalytics, Auditing, Auditing Standards, Industry News

Part 2 of a blog by David Stansell, Customer Service Manager for CaseWare Australia & New Zealand. Read Part 1 of this blog here. Please note that the images provided in this blog are all produced by our CaseWare Cloud Analytics product. Deciding what transactions to examine, and what to look for can be a challenge Avoid generating an overwhelming … Read More

Integrating data analytics into your audit plan for a more efficient audit

CaseWareAnalytics, Auditing, Auditing Standards, Automation, CaseWare News, Fraud

Analytics in an audit

(Author: David Stansell, Customer Service Manager & CaseWare Cloud Analytics specialist) Is Better Planning the Key to an Efficient Audit? The work of an auditor today has transformed into something significantly different when compared to the auditor of 10 to 15 years ago. The levels of complexity present in the industry with compliance requirements, coupled with the ever-increasing time pressure … Read More

Revenue Recognition AASB 15 – What companies need to consider and DO NOW!

CaseWareAASB 15, Accounting Standards, Auditing, Auditing Standards, Carmen Ridley, Financial Reporting, Industry News, Legislation & Regulation

Author: Carmen Ridley, Principal – Australian Financial Reporting Solutions (www.afrs.com.au). Member of the AASB, and a specialist consultant for CaseWare Australia & New Zealand. The panic has finally kicked in I have been presenting about the changes to the revenue accounting standard AASB 15 for a number of years, since IFRS 15 was issued in May 2014 (followed by AASB … Read More

Visualise the Progress & Risks of an Audit Engagement

CaseWareAnalytics, Auditing, Auditing Standards, CaseWare News

Constellation Risk View

Author: Tim Lew, Product Manager: Audit, CaseWare Australia & New Zealand Have you seen our “Constellations” feature yet? CaseWare Audit System provides customers with the means of conducting an audit via the available electronic workpapers and forms. We asked ourselves: Is there a better way to perform a more efficient audit? Can CaseWare assist in focusing on critical information that … Read More

Accounting & Audit: Automation – How Much Is Too Much?

CaseWareAuditing, Auditing Standards, Automation, CaseWare News, Industry News

Automation Tools for Accounting & Auditing

by Sarah Butler, CaseWare SMSF Audit Product Manager As Product Manager of a cloud-based solution, I try to keep up with the latest trends in the world of technology. But in recent years, this has been a hard thing to do! Digital disruption, data feeds, blockchain, artificial intelligence, machine learning… the list goes on. At CaseWare, the current hot topic … Read More

Why has the Audit Report Changed? Has CaseWare Audit included a KAMs report?

CaseWareAuditing, Auditing Standards, CaseWare News, Legislation & Regulation

The Audit Report has changed to include Audit Opinion

“Enhanced auditor reporting requirements came into effect for the 31 December 2016 reporting season.  All auditors’ reports are now destined to look very different, and will report more information to provide greater transparency”  Tim Lew, CaseWare Australia & New Zealand Audit System Product Manager How has the Audit Report Changed? The structure and order of the Audit Report has changed with … Read More

SMSF Audits – Balancing Compliance With Technology

CaseWareAuditing, Auditing Standards, SMSF Auditing

This excellent article by Chris Malkin, Senior Consultant, Baumgartner Super, complements our CaseWare philosophy so well, we can’t improve on it, so here it is (just as published in SMSF Advisor, October 2016). Juggling compliance requirements with the rise of automation and increasing price pressures can be tricky for auditors. However, there are strategies to help balance these two pressures. SMSF … Read More

Audit Sampling – Are You Really Complying with the Correct Standard?

CaseWareAuditing, Auditing Standards

Authored by: Michael Cain, Cain Consulting and Tim Lew, CaseWare Australia & New Zealand Are you using audit sampling methodology correctly? Or, are you selecting specific items for testing? Or, both? Is there a difference? We explore these questions in this blog. As auditors, we know that we must collect and document sufficient and appropriate audit evidence to reduce our audit … Read More

Does your audit team consider the ASIC Focus Areas?

CaseWareAuditing, Auditing Standards

Each year, ASIC announces several focus areas for Directors and Auditors to consider. The purpose of ASIC’s areas of focus is to ensure that the financial reports provide useful and meaningful information to the users. In my personal opinion, why not simply create a final audit checklist, which covers all of ASICs key focus areas, which your team can complete … Read More

Audit System Reportable Items TipVids

CaseWareAuditing, Auditing Standards

Did you know that the Audit System Reportable Items feature will allow you to post previously defined MLPs (Management Letter Points) to Those charged with governance, as Key Audit Matters in the Audit Report (ASA 701)? Please review our TipVids on Risk / Controls / Reportable Items to gain a more detailed explanation on how they work with Audit System. … Read More