CaseWare Financials – automated reporting tool

PwC offers consulting services on automatization of IFRS and RSA financial reporting as well as management accounts based on a program CaseWare Financials, which is used by many companies and our clients worldwide.

CaseWare Financials is a software product developed by CaseWare International (CWI) for preparing financial statements and management accounts. CWI’s solutions are well recognized globally and are now receiving recognition in Russia. According to a partnership agreement with CWI, PwC is a partner of CWI in Russia.

Based on this agreement PwC is localizing sample financial reports for Russian market, and is developing consulting services on CaseWare Financials implementation.

CaseWare worldwide

  • More than 1,000 PwC clients in Australia use CaseWare to report under Australian GAAP.
  • More than 2,000 PwC clients in Cyprus use CaseWare Financials for accounting and reporting purposes.
  • More than 250,000 people use CaseWare worldwide.
  • CWI has won International Accounting Bulletin’s «IT Vendor» award for two years.

CaseWare development in Russia

  • Projects have been completed and are in progress in Moscow, Ekaterinburg, Perm and Krasnodar to implement CaseWare and prepare IFRS and RSA financial statements by our clients, with consulting support of PwC experts.
  • This year new project to implement CaseWare Financials, with consulting support of PwC experts, started also in Saint Petersburg.
  • Standard template for financial statements is updated annually.
  • Development of templates for specific industries is in progress.
  • Development of templates for banks and XBRL reporting are in progress.

Advantages of CaseWare

Deliver a full set of financial statements

  • Produce a full set of financial statements and notes (based on PwC’s template for Russia).
  • Automatic numbering of notes, cross reference checks and automated rounding.
  • Flexible customisation of financial statements presentation.
  • Automatic formatting of financial statements.

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Flexibility

  • Import data from Excel or a text file.
  • Map a Russian chart of accounts to the CaseWare chart of accounts just one time and keep for future periods.
  • Automatic mapping for 1C.
  • Automatic year-end close with transfer of comparative figures and adjustments to the following year.
  • Simple one click consolidation.

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Data consistency

  • Absence of numerous files/Excel worksheets.
  • Drill down from input data to reporting figures and adjustments in one click.
  • Remote access from different workstations.
  • Synchronisation of changes in real time. 

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PwC support

  • PwC implementation and support including assistance with the delivery of the first set of financial statements in CaseWare.
  • Resolution of issues relating to system implementation and personnel training (i.e., support based on a «one-window» principle).

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Results of CaseWare implementations

  • Reduction of time spent on reporting cycle. After implementation and staff training the time spent on the reporting cycle will be reduced drastically.
  • Mitigate possible errors while preparing financial statements through the automation of key reporting stages and data checks (e.g., data uploads, use of existing mapping, consolidation of companies, mathematics checks, automatic rounding, etc.).
  • Allocation of tasks while preparing financial statements among the specialists of a company’s various entities or divisions thanks to SmartSync synchronisation technology.
  • Simplify the audit process through downloads/reports from CaseWare or the transfer of files to the auditor.
  • Prepare management reports thanks to the system’s flexibility - users may create and customise any type of report for management purposes. 

Implementation options may differ and depend on your resources and objectives

Training

Only includes training services. PwC delivers a two/three day training session on the system’s functions.

Last mile

PwC offers consulting services on the system’s use as a «last mile» in reporting. This means that a client already has a developed reporting process in place. With this option, CaseWare Financials software relies on final IFRS or RSA balances to prepare a full set of financial statements.

Medium option

PwC provides consulting services on the system’s use from intermediate stages (e.g., when information tables are filled in by subsidiaries if relevant analytics and codes are available). Subsequent transformation and consolidation is performed in the CaseWare system.

Full option

PwC delivers consulting services on the system’s full-scale use from its very first stage (i.e. input of statutory accounting data) to generation of final results of RSA, IFRS or management accounts.

Contact us

Arseniy Musikhin

Arseniy Musikhin

Director, CaseWare Support and Implementaion Center, PwC Russia

Tel: +7 (963) 050 8130

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