Audit solutions provider
Processing Content
It combines large language models, workflow orchestration, engagement context, firm methodology and workflow-native AI agents to help automate and guide work throughout the engagement. Caseware said Verity is built directly into the main platform versus operating as a standalone product, as the goal was creating a full audit engagement solution.
“Caseware Verity is built directly into the Caseware platform rather than operating as a standalone product,” said Caseware CEO David Marquis in an email. “The goal was to embed AI inside the engagement workflow itself—where audit and financial reporting work already happens—rather than forcing firms to move between disconnected tools or copilots.”
Verity was meant to operate across the entire assurance and financial reporting workflow end-to-end. The platform is designed to understand the engagement itself, leveraging firm-configured content, engagement history and workflow context to help tailor outputs and recommendations, with firms themselves maintaining control and oversight over how the system is configured and used within their environment.
In this way it assists the entire team throughout the engagement lifecycle. Preparers can use AI to surface guidance, identify anomalies and flag potential completeness gaps. Managers can accelerate reviews through cross-file risk checks, unresolved issue tracking and automated review pack generation, while partners gain early visibility into sign-off readiness, inspection risks and engagement findings. Throughout the engagement, the platform’s AI will execute workflow-specific tasks behind the scenes across preparing, planning, evaluating and reporting.
Because this is all taking place within the same platform and drawing on the same data sources, the platform can maintain context across different phases of the engagement rather than functioning as a standalone AI tool sitting on top of a single application or task.
“Because the system has access to engagement structure, supporting documentation, workflow status, prior activity and firm methodology, it can maintain continuity and context across phases of the engagement rather than functioning as an isolated point solution,” said Marquis.
Operating within the platform, and key to its functionality, are “agent suites,” specialized AI agents that execute workflow-specific tasks behind the scenes across preparing, planning, evaluating and reporting. Marquis said that Caseware Verity is the overarching intelligence and orchestration layer, while the agent suites are specialized workflow-native AI agents operating within that ecosystem.
“You can think of Verity as the engagement intelligence layer coordinating and maintaining context across the workflow, while the agents execute more specific workflow tasks such as disclosure checklist review, document intelligence and risk suggestions,” said Maquis.
The first workflow-embedded agents include:
- Disclosure Checklist Agent, which automates the review of financial statements, generating citation-backed suggestions auditors can review, refine, accept or override directly within the DAS audit engagement workflow;
- Document Intelligence Agent, currently in closed beta, which automates the review, analysis and extraction of information from source documents directly into workpapers, reducing the time practitioners spend manually gathering evidence; and
- Risk Suggestion Agent, currently advancing through alpha, which helps audit teams streamline engagement planning by generating engagement-specific risk suggestions using multiyear financial data and qualitative sources such as board minutes, prior risks and controls. The agent surfaces actionable risks with supporting rationale.
Marquis said the initial focus for agent suites is on automating broad, high-value areas of the end-to-end assurance workflow. Over time, the platform is designed to support more specialized use cases, industry-specific workflows and additional firm-configured extensions.
The platform is the result of multiple years of AI development as well as more than $100 million in R&D spending. It went through extensive alpha and beta testing programs before release. Marquis said one of the biggest findings over this period was that the impact was broader than initially thought.
“Users particularly valued how Verity could surface relevant context, risks, unresolved items and supporting information directly within the workflow, helping teams spend less time navigating fragmented data and more time focused on professional judgment and review,” he said.
Asked if existing Caseware users would automatically have Verity, Marquis said Caseware will be rolling out Verity capabilities across the ecosystem over time, with availability depending on product areas, workflows and deployment stages. Additional details around packaging and commercialization will be shared as the rollout progresses.
Credit: Source link
