CaseWare IDEA Reviews & Insights

Score8.3 out of 10

9 Reviews and Ratings

Community insights

TrustRadius Insights for CaseWare IDEA are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.

Pros

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.

CaseWare IDEA Reviews

2 Reviews

CaseWare IDEA Review

Rating: 8 out of 10

Incentivized

December 10, 2020

Use Cases and Deployment Scope

[CaseWare] IDEA is primarily used within our Audit Department to perform a variety of different task and procedures. [CaseWare] IDEA allows the audit team to customize the parameters to be considered and allows them to tailor directly to the client they are working with. They are able to look at items such as the gross positive/negative or the total amount of population. They are also able to look at different audits performed in the past.

Pros

Easy to setup and learn
Ability to calculate and analyze large amounts of data inputted
Customization on a case by case basis

Cons

Bit of a learning curve for the advanced features as a beginner.

Likelihood to Recommend

One example of specific scenario in [CaseWare] IDEA is the ability to run samples separately and then based off of the results, compare and contrast the values recorded and easily discern if there are any variables or discrepancies within the data itself. Also, we can test journal entries with certain parameters to check the audit for any issues that may arise pertaining to the criteria. By testing, we are able to make sure the data is accurate and sufficient.

Verified User

Technician in Customer Service (1001-5000 employees)

Vetted Review

3 years of experience

IDEA: the auditor's friend

Rating: 9 out of 10

September 4, 2020

Use Cases and Deployment Scope

IDEA CaseWare is used by the audit department majorly in sample selection on which audit procedures will be performed. Many parameters could be considered like the materiality, the gross positive/negative or net amount of population, and confidence that we have of any other audit procedures performed, etc. We could run samples separately, and based on audit results, we could compare the audited values with recorded values and find out if any discrepancies were material or not etc., It was also used in data analysis while performing testing of journal entries with line items in thousands. We would input certain criteria that we want to test and would get the results desired, all sorted and presented perfectly.

Pros

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.

Cons

One would need some training or guide to understand all the functionalities IDEA has to offer.

Likelihood to Recommend

1. Sampling: This is one is the most important work of an auditor—selecting samples representative of the population, then proceeding over to testing. IDEA simplifies this while offering various ways to sample and gives an option for customizing the parameters.
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.

Verified User

Employee in Finance and Accounting (10,001+ employees)

Vetted Review

4 years of experience