New Tools Built on CaseWare Cloud Platform
SEATTLE (Dec. 10, 2019) – The American Institute of CPAs and its subsidiary, CPA.com, today announced the expansion of their OnPoint family of products built on the CaseWare Cloud platform. Three standalone solutions will be added to the OnPoint A&A Suite – OnPoint Collaborate, OnPoint AnaltyicsAI, and OnPoint EBP – to aid growth-minded firms in improving efficiency, building trust and delivering insights to clients.
Driven by artificial intelligence and data analytics, the OnPoint A&A Suite offers CPA firms secure, streamlined collaboration with clients, automated data acquisition, transaction testing of general and sub-ledger activity, and standardized, out-of-the-box engagement templates. AICPA guidance and methodology are embedded throughout the suite's solutions, providing a seamless experience for users.
"AI data-driven analytics are transforming the value that CPA firms can deliver to clients," said Erik Asgeirsson, president and CEO of CPA.com. "We are seeing the reinvention of all major practice areas, from assurance to tax planning to client accounting services. The expanded OnPoint Suite will give CPAs new tools to automate data acquisition, analyze risk and simplify engagements."
OnPoint PCR, a smart, cloud-based solution that transforms how accounting firms conduct preparation, compilation and review engagements, was launched last year. It's received strong reviews from firms and won a CPA Practice Advisor 2018 Tax & Accounting Technology Innovation Award and was named an Accounting Today 2019 Top New Product.
Two of the new OnPoint applications are available now:
- OnPoint Collaborate – A robust firm and client collaboration solution for document gathering, which eliminates the need for less-secure email communications when exchanging information. OnPoint Collaborate simplifies the "provided by client" (PBC) document collection process and provides ready-made PBC templates and a secure, centralized location to store client files and manage document requests. This capability already generates queries for client documents within OnPoint PCR, making it a powerful tool for connecting CPAs to their clients. OnPoint Collaborate also integrates with CaseWare Working Papers.
- OnPoint AnalyticsAI – A customizable tool that uses data analytics to determine risk in transactions reviewed within an engagement. OnPoint AnalyticsAI automates data acquisition and uses artificial intelligence to better identify anomalies and risk across entire data sets, driving powerful insights for auditors. Multiple tests can be run on transactions automatically, and the type of tests can be configured based on the type of review.
The OnPoint A&A Suite will also soon include OnPoint EBP, a module for employee benefit plan audits performed under ERISA Section 103(a)(3)(C). As with OnPoint PCR, key features will include tailored inquiries and document requests, intelligent templates, status tracking in real-time and embedded AICPA guidance and methodology. OnPoint EBP will also include diagnostics and standardized testing templates to help firms improve quality with less effort.
"Our partnership with AICPA and CPA.com is allowing our organizations to deliver solutions that answer the demands of firms large and small," said Ross Hampton, CaseWare's head of marketing and sales. "The CPA profession is experiencing unprecedented change, and the CaseWare Cloud platform that powers the OnPoint suite is driving this transformation through innovative offerings that meet the demands of the profession."
The OnPoint A&A Suite is part of a broader effort to evolve auditing for the profession. The AICPA and CPA.com are working with leading CPA firms on the Dynamic Audit Solution initiative, also built on the CaseWare cloud platform, which is developing a transformative audit methodology that will enhance the efficiency, quality and value of audits.
The OnPoint suite expansion was announced at the Digital CPA Conference, CPA.com's signature event for firms interested in accounting innovation.
CPA.com brings innovative solutions to the accounting profession, either in partnership with leading providers or directly through its own development. The company has established itself as a thought leader on emerging technologies and as the trusted business advisor to practitioners in the United States, with a growing global focus.
Our company's core mission is to drive the transformation of practice areas, advance the technology ecosystem for the profession, and lead technology research and innovation efforts for practitioners.
A subsidiary of the American Institute of CPAs, the company is also part of the Association of International Certified Professional Accountants, the world's most influential organization representing the profession. For more information, visit CPA.com.
About the American Institute of CPAs
The American Institute of CPAs (AICPA) is the world's largest member association representing the CPA profession, with more than 429,000 members in the United States and worldwide, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for its members and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, builds the pipeline of future talent and drives professional competency development to advance the vitality, relevance and quality of the profession.
About the Association of International Certified Professional Accountants
The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide. It represents 657,000 members and students across 179 countries and territories in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, the Association advances the reputation, employability and quality of CPAs, CGMAs and accounting and finance professionals globally.
At CaseWare, we develop cutting-edge software solutions for accounting firms, corporations and governments. We continually work to produce a stream of successful product improvements, innovations, adaptations, and extensions that will change the future of audit, financial reporting and data analytics. Our CaseWare Working Papers, IDEA, and Cloud platforms are using artificial intelligence and machine learning to change the way we think about and work with data.
The result: measurable returns on efficiency, quality, and value for firms and their clients. Leading the industry of over 30 years, more than 500,000 users in 130 countries and 16 languages use CaseWare Solutions.