Probably the best way for any accounting firm to appreciate the real gains which are made when CaseWare Working Papers is implemented, is for that organisation to first use manual processes. That’s how Zimbabwean audit firm Baker Tilly Gwatidzo once did things; since putting CaseWare to work, the company reports a massive boost in productivity. It has also substantially reduced the physical amount of paperwork done by its professionals.
“After using a manual system which depended on a great deal of paper-based notes and documents, moving to CaseWare delivered an immediate improvement,” says Baker Tilly Gwatidzo’s Audit Director, Fungai Nyagwaya.
Once implemented, he says the software automates the audit and financial reporting process. While that in itself is a major gain, Nyagwaya says there is more to it. “The software is designed to incorporate all the necessary disclosures required for compliance with IFRS,” he notes, explaining that this takes a great deal of weight off the accountant preparing Annual Financial Statements. “Furthermore, CaseWare comes with Probe Audit Methodology; this helps the auditor in complying with the ever-changing International Standards on Auditing.”
Reduced time and errors
As a result of using CaseWare Working Papers, he says the firm’s professionals have greatly reduced the amount of time they need to spend on preparing financial statements. The outcomes are better, too: “CaseWare eliminates errors such as notes which don’t correspond to the figures on the balance sheet and income statement. It reduces time spent on housekeeping activities such as referencing and linking lead schedules to financial statements,” says Nyagwaya.
Automation and digitisation of a key business process has yet another significant benefit. The amount of paper that Baker Tilly Gwatidzo uses has decreased noticeably; since processes which depend on the creation and exchange of physical documents are notoriously inefficient. This contributes to time savings, and a reduced printing bill.
As a result of CaseWare making it possible for supervisors, managers and partners to review audit files offsite, while the audit team is still at the client, Nyagwaya says transport costs are reduced as less time is spent travelling to clients to review work and there is closer supervision of audit staff.
As a result of his experiences with CaseWare Working Papers, he has no hesitation in recommending the solution. “Faster, more efficient and always compliant. What’s not to like?” he concludes.
Manual processes used in the preparation of Annual Financial Statements are error-prone, time-consuming and generate a lot of waste paper. Baker Tilly Gwatidzo sought to improve this key business process with an automated solution to guide its professionals.
In CaseWare Working Papers, Baker Tilly Gwatidzo has chosen the market leader in reliable, high-performing software which improves efficiency, guides compliance and reduces paperwork.
CaseWare Working Papers equips the firm’s employees to work faster, use less paper, improve the accuracy of their work and present professionally prepared documents.