New titles help auditors prepare for the eventual implementation of SAS 134 through SAS 137 and reflect AICPA guidance for addressing service organization engagements
Wolters Kluwer Tax & Accounting announced the addition of new Knowledge-Based Audit Titles to its first CCH Axcess™ Knowledge Coach audit module on the award-winning CCH Axcess™ cloud-based tax preparation, compliance and workflow management platform. CCH Axcess Knowledge Coach now features titles for Employee Benefit Plans, Examinations of Service Organizations (SOC), and Common Interest Realty Associations, in addition to the Commercial titles already available.
“With many states still having stay-at-home orders in place that require firm staff to work remotely, cloud-based audit solutions like CCH Axcess Knowledge Coach make it much easier for audit teams to collaborate in real-time and work on these engagements in a virtual environment.”
“Adapting to change while also working to transform the audit workflow is something all firms are facing today,” said Cathy Rowe, CPA, CA and Director of Accounting and Audit Product Management at Wolters Kluwer Tax & Accounting North America. “With many states still having stay-at-home orders in place that require firm staff to work remotely, cloud-based audit solutions like CCH Axcess Knowledge Coach make it much easier for audit teams to collaborate in real-time and work on these engagements in a virtual environment.”
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Providing auditors with the flexibility of anywhere, anytime access, CCH Axcess Knowledge Coach facilitates collaboration across audit engagement, improves overall audit quality, and allows the auditor to exercise professional judgment. The solution tailors audits based on the characteristics of the firm and the engagement, directly links identified risks with audit steps, flows information throughout the workpapers where needed, and monitors the engagement for completeness and compliance. By offering real-time contextual-based diagnostics, notifications, and updates, CCH Axcess Knowledge Coach provides auditors with knowledge-based guidance and the tools that they need to deliver a truly complete, thorough, and compliant audit.
Knowledge Based Audit Titles are written by practicing CPAs within a framework that provides an integrated set of procedures from pre-engagement through evaluating, concluding and reporting. This framework helps auditors and their firms manage the auditing standards and ensures that important information is not overlooked or hidden in the details of numerous checklists and forms.
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