As a profession, accounting concerns itself with achieving pin-point accuracy in the figures which track financial performance. Achieving that accuracy requires substantial attention to detail – something which receives a substantial boost with the support of purpose-designed accounting software. That’s what Mauritius-based HLB Appavoo and Associates has found through its use of the CQS CaseWare Working Papers Audit solution, which it relies upon for automating the entire engagement process in its audit practice.
Clensy Appavoo, partner at the firm, puts it quite simply: “CaseWare is the most loved tool in our audit practice because it helped us to be more productive and enables our clients to be fully compliant with international standards.”
That’s because CaseWare Working Papers Audit provides accountants with a process-driven guideline which ensures that engagements are planned, performed and reviewed on-screen. But it doesn’t prescribe the process, confirms Appavoo. “A particular advantage is that CaseWare offers a great deal of flexibility when setting up templates and executing engagements. More than that, it also provides the ability to access audit files remotely,” he notes.
That’s particularly relevant in a world where mobility is becoming a feature of professional lifestyles in which the lines between work and leisure hours are blurring. “Being able to access audit files remotely makes our people more productive and efficient,” Appavoo adds.
Perhaps more than the average individual, accountants also know that time is money. That’s why Appavoo is enthusiastic about what he considers a key feature of the software. “Expect a big gain in efficiency when using CaseWare. By eliminating a lot of the manual, tedious work through automation, it enables our people to spend more time on planning and less time on-site,” he says.
It is also possible to conduct a full risk analysis within CaseWare Working Papers, which enables time saving by focusing the attention of the audit team where it is required – a feature which reduces cost for audit clients. “On top of improved efficiency, CaseWare also ensures full compliance with international standards,” Appavoo adds.
Ross Hampton, CaseWare general manager at CQS, explains that Working Papers Audit provides a report writer, work programmes and checklists together with built-in libraries of standard audit procedures. “This accelerates any engagement as the auditor never has to start from scratch. Risk management is assured with a centralised risk tracking system, while the solution allows for the creation of numerous reports to analyse the identified risks.”
He adds that partners and managers can review files even while work is progressing in other parts of the file, further enhancing productivity.
Noting that good software is just one part of value creation, Appavoo also draws attention to the training and support provided by CQS. “In a word, it is excellent,” he confirms, saying that this has allowed the company to maximise the benefits it gains from the solution.
For Appavoo and his audit team, the benefits of using CaseWare Working Papers Audit are clear. “Across HLB Appavoo and Associates offices internationally, we have standardised on CQS software. I’d definitely recommend it; it is adapted to meet the needs of accounting and audit practises as a modern tool for efficiency. Since auditors sell time, the fact that CaseWare is able to make a firm more productive and to use their time more effectively, makes it a winner.”