Caseware Analytics Launches IDEA 10.3
Ottawa, Canada, December 4, 2017 – Caseware Analytics, the developer of data analysis software for auditors, accountants and other finance professionals, is pleased to announce that the newest version of Caseware IDEA® Data Analysis software has been released. IDEA 10.3 includes a range of new enhancements to provide deeper insights and make audits more efficient, including Character Field Statistics, Duplicate Key Detection in the Visualization feature, Python integration and more.
Caseware IDEA is a powerful and comprehensive data analysis tool that allows auditors and other finance professionals to assess risk, gather evidence, uncover trends and provide the intelligence needed to make informed decisions. Version 10.3 of IDEA includes another data type of Field Statistic, Character Field Statistics, which allows users to break character fields down into categories and identify records with blank character fields. This helps reveal indicators of anomalies in the data (e.g., more product categories in data than listed in the product catalogue) and deficiencies (e.g., transactions where there are no authorizer). To make reviewing the results even easier, users can click on the counts provided by the Character Field Stats function to drill-down into the records and save them as exception databases to report in audit findings.
IDEA’s Visualization feature—which identifies exceptions quickly by revealing trends and patterns in data via dashboards—has also been upgraded. Duplicate Key detection has been added, giving users the ability to design dashboards that identify counts of items that are duplicated (e.g., invoice numbers or check numbers), and then to drill down further as needed.
IDEA’s Discover feature, which automatically creates a custom dashboard with just one click, has been updated to detect Duplicate Key situations. Discover now automatically populates the first field it detects with duplicates into the dashboard. From the Field Statistics panel, users can then drill-down to view the specific duplicate records. Dashboards can also be further customized to show information about other fields with duplicate keys or any other relevant field stat.
Other important enhancements to IDEA 10.3 include added functionality to the Stratified Random Sampling feature, which allows auditors and data analysts to break transactions down into strata before selecting the sample. In IDEA 10.3, when using the Stratified Random Sampling feature, users can specify the percentage of records within each strata, making the process more effective when populations and file sizes vary greatly from month to month.
To enhance the use of IDEA with advanced analytics, the desktop version of IDEA 10.3 now includes a Python interpreter and key packages to let users leverage the power of this tool, with no separate installations needed. Users can extend the functionality of IDEA by building their own advanced analytic or using existing Python scripts.
To learn more about IDEA 10.3 and how it can help improve your audits, contact us at email@example.com.