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CPA Firm Uses IDEA to Import & Analyze Brokerage Statements

OCR Technology Converts 40 Printed Pages into Electronic Files

Client:

Top U.S. CPA firm providing audit, investigations and consulting services. The firm analyzes both financial and non-financial evidence to assist with interrogations, document requests and depositions to help clients recover losses.  

Challenge:

The firm needed to perform cash flow analysis on 40 pages of brokerage statements. They lacked the ability to get the statements imported into a tool where the data could be segmented, verified, analyzed and prepared for a court trial.

Solution:

Audimation Services used Optical Character Recognition (OCR) technology to convert the paper statements into electronic data files, which were then imported into IDEA. The data was scrubbed to correct OCR interpretation errors and verify data for accuracy. With the data in electronic format, individual cash flow information was easily segregated into separate files for further analysis.

Results:

The brokerage statements were successfully imported, verified and sorted, which helped the client quickly detect missing information. The data import and verification process gave the client confidence in presenting material evidence during the trial.
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