IDEA® - Data Analysis Software is a powerful and user-friendly tool designed to help accounting and financial professionals extend their auditing capabilities, detect fraud and meet documentation standards. It allows you to quickly import, join, analyze, sample and extract data from almost any source, including reports printed to a file such as PDFs.
Designed by auditors for auditors, IDEA speaks your language and offers an intuitive user interface including point-and-click functions, bubble help, tutorials and multi-view capabilities. With unlimited file size capabilities, IDEA can access and analyze large volumes of data in seconds. We invite you to discover why more than half of the top 100 accounting firms in the U.S. use IDEA for their data analysis needs.
Why choose IDEA?
Who uses IDEA?
When to use IDEA?
Why choose IDEA
Improve Productivity
Designed by auditors for auditors, IDEA helps you get more work done in less time. IDEA has the data importing, analysis, sampling and results reporting features you need to work more efficiently and effectively.
Meet Professional & Regulatory Requirements
Recent years have brought significant additional responsibilities and expectations to auditors. Use IDEA's point-and-click analysis features to address fraud detection (including SAS 99), risk assessment, internal controls testing, internal policy compliance and regulations, such as the Patriot Act.
Increase Your Value
With IDEA's powerful functionality, you can improve your performance and extend your capabilities. Routine audit procedures can be completed quickly, freeing you to advise management on additional projects and in-depth analyses.
Quick Implementation
IDEA is easy to learn and easy to use. The carefully designed user interface with wizards for key functions, bubble help and Windows-standard features means you do not need to be a technical specialist to get results. HTML-based help functions, an informative user guide and tutorials make learning IDEA a breeze. Simple installation means you can experience the benefit of IDEA in hours.
Increase Independence & Maintain Integrity of Data
Use IDEA to bring data from different sources and file types, including PDFs and other print reports, into one format for easy analysis and comparison. Use established query tools to obtain a copy of the data without requiring IT involvement. The auditor maintains independence by performing all analysis of the data versus relying on reports generated by the IT department or others.
IDEA uses read-only tools so that no changes are made to the source data. Imported data is record-locked so that it cannot be written over or misaligned. A History Log, or audit trail, is automatically generated to record all analysis, user and date/time information for each step in the process. IDEA keeps a snapshot of the data at a point in time to maintain the validity of the analysis and conclusions.
Comprehensive Audits
Use the speed, power and unlimited file size capabilities of IDEA's analysis features to review 100% of records. Quickly isolate all records that meet criteria specific to the audit objectives. Improve audit quality by replacing sampling projections where possible and logical.
Standardize and Automate Analysis
Use IDEAScripts to standardize routine analyses or basic procedures for consistent results. IDEAScripts enable continuous auditing or continuous monitoring by management. Scripts can also address complex processes that are repeated periodically, such as import and normalization of data from different sources to prepare for comparison.
Automate the analysis process by scheduling IDEAScripts to run during off hours. Save time and effort by creating your own standard test routines using pre-written suites of tests, which are listed under Optional Components and Audimated Tests.
High Quality User Support
The purchase of an IDEA license includes a year of support and maintenance for all users. Our helpdesk is staffed with IDEA experts and characterized by users as friendly, responsive, helpful and thorough. Annual license renewal provides you with all of the features of support and maintenance. Audimation also offers a "Getting Started with IDEA" Webcast, which provides an overview of importing tools and most-used analysis features. The Webcasts are open to new or existing customers and registration is required by clicking here. Additionally, users have unlimited access to CaseWare IDEA support at http://ideasupport.caseware.com, which provides downloads of service packs, optional components, FAQs, white papers, user guides and other resource materials.
Faster ROI
Cost and return on investment are important considerations. We offer concurrent user licensing, enabling a group of users to share IDEA licenses instead of requiring a license for each user. A lower total investment, short implementation time and enhanced audit results means that the cost of IDEA can be recouped quickly.
IDEA is Easy to Use
• Intuitive interface that looks and feels like familiar Microsoft products
• The standard features of IDEA fit the analysis needs of auditors and other analysts
• Extensive use of drop-down menus and pick lists eliminate the need to type exact field and feature names
• Each feature uses a dialog box to set criteria for queries
• Dialog boxes include the ability to add filtering criteria, to tailor which fields will be included in the results file and to request step-by-step help on the feature that's being used
• Each import type uses a wizard to guide the user through the process
• No special language, terminology or coding is required to use the features
• IDEAScripts, macros written in a VBA-like language, can be recorded or copied in order to minimize how much code is written
Benefits of Using an Easy-to-Use Data Analysis Tool
• Reduce training time
• Achieve improved results in a shorter time period
• Speed up the implementation process
• Increase the rate of adoption by staff
• Increase the likelihood that usage will spread to additional projects or departments
• Reduce the possibility of "shelf-ware" that does not get used
• Reduce reliance on IT resources
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Who uses IDEA?
IDEA is Trusted by Professionals
• Public accounting firms (external auditors) and consultants for financial, operational, compliance and IT audits or other projects requiring data analysis
• Internal auditors in many industries and all levels of government for financial, operational, compliance and IT audits or other projects requiring data analysis
• Fraud examiners, investigators, and forensic accountants
• Financial analysts
• Tax analysts
• Compliance professionals
• Quality control departments
• IT staff for system or data conversion projects
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When to use IDEA?
Applications by Industry/Type
IDEA is Versatile
Satisfy Financial Statement (External) Auditing Objectives
• Accuracy - checking totals and calculations
• Analytical Review - comparisons, profiling, stratifying
• Validity - duplicates, exceptions, statistical samples
• Completeness - gaps and matches, totals, dates
• Cut-off - date and number sequences analysis
• Valuation - A/R and inventory subsequent sales
Internal Auditing
• Policy compliance
• Exception testing
• Analysis
• Matches and comparisons
Continuous Auditing
• Key controls for SOX compliance
• Operational controls
• Risk management
• Standardized testing
Management Reports and Analysis
• Ratio calculations and analysis
• Summarization and ranking (i.e., customers, products, sales forces and regions)
• Performance measures (i.e., response times for order processing)
• Profiling
• Inventory analysis
• Cash flow analysis
Fraud Investigations
• Purchases and payments - supplier validity, account analysis
• Payroll - cross matching, calculations
• Money laundering - large values, round amounts, frequent movement
File Transfers
• Import data from legacy systems; export it to a new system in a more suitable format
Data Access
• Access previously inaccessible data such as information in Adobe PDF or other print report formats without the time and error rate from re-keying the data
IDEA Helps with Risk Assessment
Risk Assessment and Internal Controls Testing - AICPA and PCAOB
The new risk assessment standards are designed to enhance auditors' responses to audit risk and materiality and require them to focus on areas with the greatest risk of misstatement in the financial statements.
Application of the Audit Risk Model:
• Gather information about the entity and its environment, including internal control
• Understand the entity and its environment, including its internal control
• Assess the risk of material misstatement
• Design overall responses and further audit procedures
[Source: AICPA Audit Risk Alert: Understanding the New Auditing Standards Related to Risk Assessment by Michael J. Ramos, CPA]
Computer Assisted Auditing Tools and Techniques (CAATTs) enable the auditor to analyze large volumes of data for anomalies and outliers without devoting the time and resources required by more traditional techniques.
IIA Professional Standards Red Book
Each Internal Audit group must have an external Peer Review every five years and will be evaluated on their use of Computer Assisted Audit Tools. The standards state that the Internal Auditor should have the knowledge to identify indicators of fraud. In addition, the Internal Auditor should have knowledge of key IT risks and controls.
Sarbanes-Oxley Act Compliance
IDEA helps you meet the requirements of ACIPA's SAS 99 on consideration of fraud in a financial statement audit by allowing you to:
• Import data and test controls
• Select samples using five proven methods
• Scan 100% of journal entries in the general ledger
• Compare data between years
• Identify inappropriate user access
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