AAFCPAs Selects Caseware’s DAS as New Audit Methodology Platform

Boston, MA (January 2, 2024) – AAFCPAs, a top 100 CPA and consulting firm based in New England, announces the adoption of Caseware’s Dynamic Audit Solution (DAS) as its new audit methodology platform. This strategic decision underscores the firm’s ongoing commitment to leveraging cutting-edge technology to enhance audit quality, effectiveness, and client service.

In addition to DAS, AAFCPAs will also implement Caseware’s OnPoint Employee Benefit Plan (EBP) and Preparation, Compilation, and Review (PCR) products to further enhance its audit and assurance services. This expansion of the firm’s technology stack underscores AAFCPAs’ dedication to adopting innovative solutions that meet clients’ diverse needs.

“Selecting a new audit methodology is a significant investment that requires a dedicated team and the appropriate amount of time,” said  Sarah Flischel, CPA, AAFCPAs’ Director, Audit Transformation & Training. “At AAFCPAs, we invested the necessary resources—time, expertise, training, and funding—to ensure we selected the best solution for our clients. This decision underscores our commitment to enhancing audit quality and providing exceptional service.”

Selection Process

AAFCPAs approach focused on the following:

Dedicated transformation role. The pace of change is not slowing. Tech and AI are rapidly evolving, and transformation decisions must be an ongoing component of doing business. Having a person with the appropriate skill set is essential for success. AAFCPAs’ process was led by a dedicated team member with a combination of audit experience, technological proficiency, a strategic mindset, the ability to focus on details, effective leadership skills, and an understanding of risk management for the firm.

A diverse transformation team is crucial. Each practice area has unique needs, which should be considered when moving to a new product. And team members must genuinely be open to change and want to work smarter. They should be present and openly share their opinions—good, bad, and ugly.

Effective product selection process. With the amount of products available today, it is essential to identify deal breakers and desired features before starting. To be objective, it’s important to rate all products against the same set of criteria and avoid bias. Narrow down the selection to take a deeper dive into two or three products that meet the majority of your needs.

Objective evaluation of product options. Do not rely solely on visuals or sales pitches. Test the product with your own data to verify its claims and weigh the benefits of using it as-is versus the time and effort required for customization.

Why AAFCPAs Chose Caseware.

After a comprehensive evaluation, Caseware’s DAS emerged as the clear choice for AAFCPAs based on several key criteria:

• Strong Linkage Between Risk and Response: DAS builds audit procedures based on identified risks, reducing unnecessary audit steps and enhancing focus on critical areas.
• Enhanced Insights: DAS’s data ingestion and analysis capabilities help us better understand our clients’ financial information. This deeper understanding enables us to provide more informed advice and identify opportunities for improvement.
• Automated Financial Statement Drafting: DAS automates the drafting of financial statements and footnotes, streamlining the process and reducing the risk of errors.
• Trusted Methodology: Recognized for excellence and backed by the AICPA and CPA.com, DAS ensures our audits are grounded in a trusted and widely accepted methodology—a system “owned” by the profession with a vested interest in ensuring audit quality.
• Guided Methodology: Built-in definitions and guidance provide a single source of truth, enabling early career hires to learn and perform audits at a higher quality.
• Built-In Automation: Answering a question once ensures consistency across the audit, reducing risk and saving time.
• Cloud-Based Platform: The cloud-based nature of DAS ensures seamless access and collaboration, enhancing our team’s productivity and flexibility.
• Modern Technology: By modernizing our audit software, DAS becomes particularly attractive to early career professionals and college students, aligning with their expectations for contemporary technology. This strategic move not only enhances our appeal to new talent but also helps retain skilled professionals within the industry.
• API Capability: Integration with other products allows for deeper insights into our processes and client engagements.

If you have questions, please contact Sarah Flischel, CPA, Director, Audit Transformation & Training at sflischel@aafcpa.com or 774.512.9047—or your AAFCPAs Partner.