The Things You Need to Know About IDEA 10

James Loughlin – AuditWare Systems Ltd

25th June 2019

• Introductions

• IDEA – Changes Since the Last Irish User

• IDEA 10 – Advanced Analytics

• IDEA 10.4.1 – The Best IDEA Yet!

• New CaseWare IDEA Guide

• Other News

• Q & A

• End

Agenda

• Introductions

• Other News

• Q & A

• End

Agenda

Introductions

• James Loughlin

▪ Head of Technical & Training Services

▪ Joined AuditWare Systems in 2009 as a software trainer and technical consultant,

▪ Background in data analytics.

▪ Heads up the Technical and Training areas of AuditWare Systems, steering the changes of direction in CAATS education and services.

▪ Ardent advocate of Computer Assisted Audit Techniques and Tools, providing varying levels of training and consultancy, as well as speaking at various events on the benefits of audit analytics.

Introduction

• AuditWare Systems

▪ Established in 1987, AuditWare helped to introduce and develop computer assisted audit techniques to the UK and Ireland, and is a national leader in supplying the most powerful data analytics software available, globally.

• Provided solutions to audit professionals for more than 30 years

• Training over 25,000 professionals

• Consulting team with extensive experience and best practice knowledge

• Targeted focus on Audit, Tax, Finance, Fraud, Risk and Compliance - Continuous Monitoring.

Introductions

• CaseWare Family

EngagementManagement

Risk ManagementFinancialReporting

Data Analytics

Monitoring

CaseWare Solutions

IFRS, GAAP, GASB, XBRL, SAP ETL, P2P, O2C, Purchasing Cards, Payroll & HR, Fraud Management, Collaboration, Revenue Assurance, Reconciliations, Continuous Auditing and Monitoring

Introductions

• CaseWare Product Suite

• Introductions

• Other News

• Q & A

• End

Agenda

IDEA – Changes Since the Last Irish User Group

• IDEA 9

▪ Electronic Licensing• Single User

• Concurrent

• Corporate

▪ New look and feel

▪ New database structure – speed improvements

▪ New way of organising your data with the Library

• IDEA 9

▪ Time Fields• Virtual Time and Editable Time field types - @Ctot, @Ntot, @Ttoc, and @Tton

▪ New Benford’s Law Analysis Tests• Second Order, Summation,

• IDEA 9

▪ Fuzzy @Functions• @SimilarWord, @SimilarPhrase

▪ SmartAnalyzer Automated Reporting Framework• Specific Apps

• Workflows

• Data Requests

• Data Preparation

• Automated Routines

• Reporting Functionality

• IDEA 9▪ SmartAnalyzer Automated Reporting Framework

• IDEA 9▪ SmartAnalyzer Financials App

• Introductions

• Other News

• Q & A

• End

Agenda

IDEA 10 – Advanced Analytics

IDEA 10 – Discover & Visualize

• Fuzzy Duplicate Detection

▪ Identifies multiple similar records within a selected Character field or up to three Character fields. Similar records are identified and then grouped based on their similarity degree.

Fuzzy Duplicate task detects:

• Data entry errors (e.g., "Compny" instead of "Company").

• Multiple data conventions for recording information (e.g., "J P Smith" vs. "John Peterson Smith").

• Fraud (e.g., similar addresses/ names), or invoice numbers 1234 and 1234a etc.

• Character Field Statistics

▪ Number of Categories, Number of Blank Cells

• New & Improved Stratified Random Sampling

▪ Identifies multiple similar records within a selected Character field or up to three Character fields. Similar records are identified and then grouped based on their similarity degree.

• IDEA Passport

• Introductions

• Other News

• Q & A

• End

Agenda

IDEA 10.4.1 – The Best IDEA Yet!

• IDEA ODBC Drivers

• ODBC Drivers

IDEA ODBC DRIVERS

IDEA 10 – IDEA Import Assistant

IDEA 10 – SAP Smart Connector + Pre-built Analytics

Accountancy Software Import Solution

• 60+ Accountancy Software Packages including:

▪ Sage

▪ Quickbooks

• First build extracts:

▪ General Ledgers

▪ Journals

▪ Trial Balances

ACCOUNTANCY SOFTWARE IMPORT SOLUTION

Python Integration

• IDEA version 10.3 and above include a Python Interpreter and key packages to let you leverage the advanced capabilities of one of the programming languages of choice with Data Scientists.

• Python Integration

▪ Machine Learning & Artificial Intelligence Capabilities

▪ Algorithmic

• Rule based with classification (e.g. if this then that)

▪ Machine Learning (ML)

• Unsupervised (unlabelled data)

• Supervised - (labelled data)

• Reinforced

▪ Deep Learning

• All of the above combined(plus more) processed in advanced neural networks

Pic Credit: Linked IN | Machine Learning vs Deep Learning

• Python Integration

▪ Solutions now available

• Outliers (Machine Learning – OVSM, LOF, Isolation Forest)

• Word Count

• Fuzzy Join

• @Python

PYTHON SOLUTIONS

• Charting Enhancements

• Introductions

• Other News

• Q & A

• End

Agenda

New CaseWare IDEA Guide

• Introductions

• Other News

• Q & A

• End

Agenda

Other News

• In final stages of Development:

▪ IDEA Data Analytics: How to use IDEA to combat Fraud

Other News

• New Smart Analyzer Apps – Due Late Summer / Early Autumn 2019

Thank You for Your Time

Any Questions?

The Things You Need to Know About IDEA 10 · Introduction •AuditWare Systems Established in 1987,...

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