Caseware Unveils AiDA, its AI-Powered Digital Assistant, and Launches New ESG Reporting Solution at CwX London 

Caseware announces dual launches for the UK market at customer event 

LONDON – October 15, 2024 – Caseware, a global leader in cloud-enabled audit, financial reporting and data analytics solutions, today announced the UK launch of Caseware AiDA, its Artificial Intelligence digital assistant. As the latest enhancement to the industry-leading Caseware Cloud platform, AiDA complements Caseware’s comprehensive suite of solutions created with accounting, audit and finance professionals in mind.  

AiDA is designed to enhance efficiency, ensure compliance and provide precise, context-aware responses to profession-specific enquiries enabling accounting, audit and finance experts to work more efficiently, collaborate with greater effectiveness and gain deeper insights.  

Whether providing timely responses to methodology or compliance questions, supporting the processing and analysis of audit evidence, or assisting with the production of key audit workpapers and deliverables, AiDA empowers professional users to achieve more with less effort. This will, in turn, drive practice growth and power the financial success of clients. 

Some of the benefits to be gained from Caseware AiDA include: 

• Enhanced workflow efficiency with precision and relevance – whether summarizing lengthy PDFs or providing informed answers about your documentation in the moment, AiDA helps you work smarter, not harder. 

• Reassurance around security and compliance – with AiDA, no prompts are stored or fed back into the model. Users can trust AiDA to maintain the highest data security and compliance standards that Caseware has always delivered for the profession. 

• Assistance with routine tasks – AiDA assists with mundane tasks, enabling professionals to focus on strategic decision-making.  

• Focus on quality output – AiDA delivers a safe and fit-for-purpose resource which ensures efficient workflows for clients.   

Simon Warren, Head of Global Solutions at Caseware remarked: “Already available in the United States, Canada and Australia, we’re delighted to bring Caseware AiDA to UK customers. Soon, AiDA will be a core component of all cloud-enabled solutions, across all regions. AiDA is poised to revolutionize task management for accounting and audit professionals, providing unmatched digital assistance.” 

Separately, Caseware also announced the availability of its Environmental, Social and Governance (ESG) reporting solution, representing a significant milestone in Caseware’s commitment to supporting firms with sustainability reporting across all stages – from scope determination and data collection to report creation. Already available in several markets in Europe, Caseware’s innovative solution will now provide customers in the UK with the tools they need to fulfill their obligations and streamline the process with ease. 

The Caseware solution is compliant with the EU Corporate Sustainability Reporting Directive (CSRD) standards and, at this time, will mainly be relevant for Corporates – and audit companies supporting Corporates – who are in scope of the CSRD¹.  

Simon Warren commented, “Caseware’s ESG reporting solution is essential for customers who need to comply with the demands of these new corporate monitoring and reporting standards. These can cover a range of topics including environmental matters, governance around employee mental health, LGBTQ concerns and much more. When the UK finalises its own ESG standards in the coming months, we will incorporate these aspects into the solution. In the new year, we plan to launch an audit solution which will facilitate report auditing for practices.” 

CwX London gathers Caseware customers, partners and industry leaders together to celebrate this year’s theme, Powering Your Plans. CwX fosters an environment of excellence, innovation and collaboration featuring the latest emerging technologies, thought-provoking discussions, expert keynote speakers and educational sessions. The event will be hosted by Rob Brown, globally renowned presenter, author and chair of high-level conferences, panels and events for the accounting and fintech profession. 

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Footnote 

These are: 

• All companies that have securities listed on an EU regulated market (including listed small and medium companies); 

• All EU companies or EU companies that are a parent of a large group (‘EU subgroup’) that exceed two of the three following criteria (as per the Accounting Directive 2013/34/EU as amended in 2023 to increase the thresholds) on two consecutive annual balance sheet dates: 

• More than 250 employees during the financial year 

• Balance sheet total of more than €25 million 

• Net turnover of more than €50 million; 

• non-EU companies generating a net turnover of more than €150 million in the EU and: 

• Having a subsidiary in the EU that meets the criteria applicable to EU companies (ie, being listed on an EU regulated market except micro, or being a large EU company or subgroup as per the Accounting Directive thresholds); or 

• A branch in the EU generating more than €40 million net turnover in the preceding year; 

• Some small and non-complex credit institutions and some captive insurance and reinsurance undertakings. 

Source: ICAEW