External Audit Software

Simplify Financial Statement Audits with IDEA
 

By blending financial data together from different systems, you gain a holistic view of what is transpiring within the organization. Our data analytics solutions help you analyze the entire data population to assure stakeholders that financial statements are accurate and complete.

• Identify high-risk accounts by testing accounts receivable, accounts payable, inventory, fixed assets, clearing accounts and other liabilities using the Financial App – a suite of 55+ pre-developed tests and routines.

• Accruals-based on estimates can be easily manipulated. IDEA can be used to identify potentially improper activity in the accruals section of the balance sheet.

• Transaction-Level Analysis of Expenses. IDEA simplifies the identification of improper activity in the expense section of the income statement including timing differences, omitting expenses and spreading costs related to improper activity across multiple expense accounts that may indicate fraud schemes.

• Identify Irregularities: Apply digital analysis in multiple ways to examine irregularities or abnormalities in transactions and use built-in Benford’s Law tests to identify potential fraud and errors within massive amounts of data

• Revenue-Based Analytics: Identify improper activity in the revenue section of the income statement

• Financial State Analytics: Identify potentially improper activity at the financial statement level

• Trend Analysis: Identify unusual movements near the end of a quarter or year which could indicate early recognition of revenue or postponement of costs, and in correlating accounts that should be positively or negatively correlated