Caseware launches Verity AI platform for audit workflows

Caseware has launched Verity, an artificial intelligence platform for assurance and financial reporting engagements designed to operate directly within audit workflows.

It launches alongside a set of AI agents intended to handle specific tasks across preparation, planning, evaluation and reporting in audit and assurance engagements. Caseware said it invested more than USD $100 million over several years in AI development before the launch.

The Toronto-based software group described Verity as an intelligence and orchestration layer within its audit and financial reporting products, rather than a separate assistant outside the engagement file. The platform draws on engagement context, firm methodology, supporting documents and professional standards as users move through an assignment.

Developed with input from firms in alpha and beta programmes, Verity reached 94% accuracy on golden dataset items captured from beta traces in early deployments, according to Caseware, while reducing indicative manual workflows from 15 to 20 minutes to under two minutes.

Agent suites

The first group of embedded agents includes a Disclosure Checklist Agent, a Document Intelligence Agent and a Risk Suggestion Agent. The Disclosure Checklist Agent reviews financial statements and generates citation-backed suggestions that auditors can accept, refine or override within the audit workflow.

Caseware said the tool saves an average of 2.7 hours of review time per workflow. The Document Intelligence Agent, still in closed beta, is designed to review, analyse and extract information from source documents into workpapers. The Risk Suggestion Agent, in alpha, uses multi-year financial data and qualitative materials, such as board minutes and prior risks and controls, to generate engagement-specific risk suggestions.

The broader aim is to automate 50% of repetitive elements across the end-to-end engagement workflow. Keeping the system inside the workflow, Caseware said, helps reduce manual navigation between systems and preserves context across different phases of an engagement.

The tools are aimed at several levels of audit teams. Preparers can use them to identify anomalies, surface guidance and flag possible completeness gaps. Managers can use them for cross-file risk checks, unresolved issue tracking and automated review pack generation. Partners are intended to gain earlier visibility into sign-off readiness, inspection risks and engagement findings.

"With Verity, Caseware is launching an industry-first agentic solution specifically designed for assurance professionals," said David Marquis, Chief Executive Officer of Caseware.

"Verity brings frontier intelligence inside the engagement itself. It understands the context, applies firm methodology and orchestrates intelligence and automation across the entire engagement lifecycle. No competitors - legacy or point providers - have built a fully-governed end-to-end platform like Caseware," Marquis said.

Governance focus

Caseware placed governance and traceability at the centre of the rollout, reflecting the regulated nature of audit work. Every AI-assisted output produced through Verity and its agents is citation-backed, reviewable and traceable before entering the engagement file, the company said.

The system operates within firm-configured permissions and controls, with engagement-level data isolation and support for compliance standards including SOC 2 Type II and ISO 27001. Those controls are intended to support professional judgement and evidentiary standards in regulated environments.

Andrew Smith, Caseware's Chief Product Officer, said feedback from test users had shaped the product's design in live working environments. "Feedback from beta participants, including several leading global firms, has been remarkably consistent: Verity saves time and gives me peace of mind because it's right there and it understands my full engagement," he said.

"It's going to create a real separation in terms of efficiency between firms that embrace it and those that don't. Users tell us that in-the-moment access to contextual intelligence is making them more productive and more focused on the work that really matters. Verity is delivering more than gains in productivity, it's raising the quality bar and the quality of life bar across every member of the engagement team," Smith said.

Caseware said the platform was designed as a foundation that firms can extend over time through integrations, firm-specific AI additions and future agent-to-agent workflows. More than 23,000 firms, corporations and government organisations use its technology in more than 130 countries, according to the company.

"Firms are looking for practical AI that delivers measurable operational value inside regulated environments," Marquis said. "We built Verity and our AI agents to operate where audit work actually happens, with governance and human review built into every stage of the workflow."