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CaseWare launches cloud-based solution for Canadian accountants, auditors

First-of-its-kind software paves the way for accounting’s digital future

Author: Ross Hampton

TORONTO, July 31, 2019 – There is a new wave of accounting firms that are ahead of the curve and shifting the way they think and work through their engagements. They know they can be more efficient in the cloud and, at the same time, work more productively on behalf of their clients. Up until now, however, they lacked the tools to do it. 

Now, CaseWare International has filled an important gap in the Canadian accounting and auditing profession by launching CaseWare ReviewCompTax, a first-of-its-kind cloud-based solution for accountants and auditors in Canada. 

CaseWare ReviewCompTax consolidates multiple engagement processes and enables firms to work smarter, faster and more efficiently. It reimagines how accounting and auditing firms work and think, consolidating processes into one workflow, providing firms with unprecedented levels of efficiency, and enabling them to do more with less while maintaining quality assurance and compliance. 

A collaborative platform that features artificial intelligence, real-time collaboration, automated workflows and big data analytics, CaseWare ReviewCompTax is paving the way for a digital future in the rapidly evolving industry. Its end-to-end platform enables accountants and auditors to perform review, compilation and tax engagements from a single database, securely hosted in CaseWare Cloud. 

Supporting the entire workflow, CaseWare ReviewCompTax handles financials, review, compilation, tax, guided workflows, engagement letters and PBC in one cohesive workflow, supported by a client portal and file storage capabilities. 

The platform — designed from the ground up to take advantage of leading-edge functionality — provides innovative web-based tools for 24/7 real-time access to client accounts and information. This includes automatic updates and shared dashboards to ensure everyone is working on the same documents and that all communication is securely sent, received and tracked. 

CaseWare ReviewCompTax
CaseWare has streamlined multiple processes of different engagements into one comprehensive, online ecosystem. (Screenshot: CaseWare)

A Canadian Cloud-Based Solution

CaseWare is practically a household name to chartered professional accountants across Canada. ReviewCompTax builds on the legacy of the Canadian-owned organization, delivering innovative solutions that keep clients worldwide prepared for the future. The company’s new platform will feature review, compilation and tax as the first application areas, with additional functionality to be added. The intelligent software comes pre-loaded with CPA Canada standard forms and checklists to ensure compliance. 

What sets this cloud-based solution apart is that CaseWare has streamlined multiple processes of different engagements into one comprehensive, online ecosystem, removing the duplication that exists in current accounting and auditing processes. Cloud computing represents a leap in technology and, with ReviewCompTax, CaseWare is not just migrating an existing platform to the cloud, it's re-thinking the way accountants and auditors work. 

CaseWare ReviewCompTax
Actionable data insights are visually presented, enabling accountants to easily investigate anomalies and instantaneously discover trends. (Screenshot: CaseWare)

An Online Ecosystem

ReviewCompTax increases efficiency and quality by removing the need for accountants and auditors to perform repetitive tasks such as inputting data in multiple places. This will free CPAs who work in public practice to focus on delivering value-added services to their clients instead. Some of the important features of ReviewCompTax include: 

•  Information is automatically updated throughout financial statements and tax returns, removing the need for multiple manual entries and reducing the likelihood for error.
•  A secure, centralized client portal and query system that eliminates multiple email threads and the risk of delays due to ineffective communication. 
Actionable data insights that are visually presented, enabling accountants to easily investigate anomalies and instantaneously discover trends. 
Seamless import of client data from more than 50 accounting packages and mapped automatically in the proper structure. 
Built-in intelligence that uses client data and responses to pre-set questions to automatically tailor the scope of work to the specific needs of each client. 
Bank-level security assurance backed by certifications such as ISO 27001 and a Service Organizations Control (SOC) 2 Audit Type 2 examination audit, demonstrating stringent controls for protecting confidential customer information. 

According to feedback from early users, firms are seeing a marked increase in productivity and efficiency through ReviewCompTax. Canadian accountants and auditors are already finding better ways to work together with clients and colleagues. 

Ross Hampton is Head of Business Development – Americas for CaseWare International. To learn more about CaseWare ReviewCompTax or book a demo, visit the CaseWare website.

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