ProSystem fx® Knowledge Coach Driving knowledge based audit (KBA) efficiency and accuracy to the next level
Developed from the ground up by auditors, for auditors, ProSystem fx Knowledge Coach combines the industry-specific content and guidance of ProSystem fx® Knowledge Tools with a dynamic audit workflow engine that streamlines your tailored audit planning process, and helps you efficiently manage an audit from beginning to end.
Knowledge Coach is not just a planning tool, a workpaper generator or an audit workflow management tool. It's all of these things and more, raising the bar on audit engagement management in the profession.
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The Next Level of Tailored Audit Efficiency
Rather than spending time managing workpapers, checklists and administration, our knowledge based audit (KBA) software streamlines the process, saves valuable time, and gives auditors the opportunity to get back to the investigative work of auditing. Created in the true spirit of the Risk-Based Audit Standards, Knowledge Coach gives auditors the flexibility to add their own procedures and processes to the workflow. As a result, tailored audit meets the unique characteristics of the firm and engagement. Knowledge Coach provides:
Dramatic increases in efficiency Our KBA will significantly reduce time spent on your engagements through dynamic planning tools, flow of data throughout the application and workpapers, and powerful roll-forward capabilities.
Compliance with latest risk-based audit standards Our knowledge based audit (KBA) tool quickly guides you through audit planning, ensuring that your engagement is tailored to the specific entity and its risks. It also facilitates your ongoing management of risks and program steps, ensuring that all identified risks are addressed throughout the engagement
Reduction in the risk and cost of over-audits Knowledge Coach links tailored audit procedures to identified risks, allowing your auditors to focus on needed steps and identify unnecessary ones.
Dramatic improvements in accuracy With Knowledge Coach, information that impacts more than one workpaper or step is flowed throughout the workpapers - immediately and accurately. There is no need to find and update affected areas, and risk incorrect updating.
Total flexibility With Knowledge Coach, your audit plans are tailored to a specific entity using our Knowledge Based Audit™ (KBA) guidance, tailoring questions, and your auditor's own professional judgment. Changes can be maintained through roll-forward and content updates.
Transparency Knowledge Coach tells your auditors what it is doing through the use of drill-downs, workflow links, and real-time messaging.
Benefit from Training and Consulting
As with all CCH products, Training and Consulting services focused on product usage, best practices, and methodologies are available to help your firm achieve the highest return on your investment in our powerful software and services.
The CCH Training and Consulting Team will take your use of ProSystem fx products to a new level. Our team will assist you in incorporating Knowledge Coach into your daily workflow, along with working closely with you to show you best practices for using Knowledge Coach to create important tailored audits for each of your clients.
Powerful Features Contribute to a Complete Audit Solution
Knowledge Coach lets auditors get back to auditing -- which is why they got into the field in the first place! It combines the industry-specific guidance from our world class knowledge based audit (KBA) tools and content titles with a powerful and dynamic audit workflow engine that guides auditors through the entire audit -- from planning to final sign-off -- in a thorough, dynamic and efficient manner. Key features include:
Multiple levels of tailoring questions that dynamically identify and create recommended tailored audit procedures and workpapers.
Financial and assertion level risks can be identified and entered from any workpaper, and the system consolidates them into an engagement risk summary
Audit program steps can be added from a Program Step Library and directly linked to any identified risks.
Contains extensive diagnostics to help auditors identify any missing steps, incomplete workpapers, or unaddressed risks throughout the audit.
Enter data once and watch it flow within and across workpapers in all appropriate locations, ensuring accuracy and efficiency.
Drilldowns, links and answer guidance provide transparency into actions and recommendations
A Tips pane provides contextual guidance based on what is selected in the workpaper. Hyperlinks to our Accounting Research Manager product provide instant access to additional supporting information and research.
Answers to questions, custom program steps and risks can be saved as templates and re-used for other clients and similar engagements.
Powerful roll-forward capabilities allow you to keep your information from prior year audits, creating dramatic efficiency improvements in subsequent years.
Incorporates all workflow features of ProSystem fx Engagement, including binder sharing and synchronization, sign-off references, reports and more.
Utilizes the same powerful, industry-specific Knowledge Based Audit (KBA) guidance incorporated into ProSystem fx Knowledge Tools and Accounting Research Manager.
Maximize Efficiency through Seamless Integration
ProSystem fx Knowledge Coach integrates fully with ProSystem fx Knowledge Tools and ProSystem fx Engagement for robust paperless engagement workflow, streamlining your entire engagement process. With ProSystem fx Engagement, you can:
Save engagement-related e-mails using new Microsoft® Outlook integration.
Incorporate your Word® and Excel® workpapers and financial statements into electronic binders and automate them with links to client, engagement, and trial balance data.
Take advantage of the only trial balance system built from the ground up on Microsoft® Word and Excel, allowing you to paste or insert links using ranges of cells, rather than inserting each cell individually into the link formula.
Import data from popular trial balance packages such as ProSystem fx Trial Balance, GoSystem Audit, and ATB; automatically update every time you post a journal entry; export to popular tax packages such as ProSystem fx® Tax GoSystem Tax, and Lacerte; and efficiently post transactional entries.
Industry-Specific Knowledge Based Audit Titles Available
Knowledge Coach utilizes the same industry-specific tailored audit guidance available in ProSystem fx Knowledge Tools, but in a format that enables the dynamic, interactive power of the Knowledge Coach application. The great news is, if you're already a KBA Tools user, you are already licensed to use your content in Knowledge Coach.
We are working diligently to provide "KC-enabled" titles in a prioritized manner as quickly as possible. Our first titles will be Commercial,Governmental and Not-for-Profit, followed quickly by Single Audit, Construction and others. We're even planning a new Public/PCAOB title later in 2009. While we continue to roll out titles, you can still plan and start your engagements using our Knowledge Tools product. When the KC-enabled title is released you will be able to convert your Knowledge Tools engagement into Knowledge Coach, quickly and automatically.
As we finalize our release schedule we will be posting this information on this website. In the meantime, please contact your sales representative for more information on our title release schedule.
