ProSystem fx® Knowledge Coach Recognized for Advancing Audit Technology
In recognition of the game-changing nature of Knowledge Coach, Accounting Today recently named it the "2010 Top New Product" in the audit software category. View the article here.
Add to that the positive peer review awarded to Knowledge Coach by the AICPA (American Institute of Certified Public Accountants) Peer Review Committee, and it's clear this new product is already making a significant contribution to how paperless risk-based audits are performed.
See it in action. Register for a live web demonstration.
Experience the Efficiency of Tailoring Your Audit with Intelligent Workflow Assistance
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. Knowledge Coach provides:
Dramatic increases in efficiency. Significantly reduce time spent on your engagements through dynamic planning tools, flow of data throughout the application and workpapers, and powerful roll-forward capacity.
Compliance with latest risk-based audit standards. Expert questions relevant to your type of engagement guide you in tailoring your plan. Facilitated management of risks and program steps ensure all are addressed.
Reduction in the risk and cost of over-audits. Audit procedures are linked to identified risks, allowing your auditors to focus on needed steps and identify unnecessary ones.
Dramatic improvements in accuracy. Extensive diagnostics ensure completeness. Information that impacts more than one workpaper or step flows throughout the workpapers - immediately and accurately.
Total flexibility. If you need to reconsider earlier decisions based on evidence obtained at a later stage, any changes you make flow through to all workpapers as necessary.
Transparency. You know what is happening 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. The CCH Training and Consulting Team will assist you in incorporating Knowledge Coach into your daily workflow, and work closely with you to develop best practices for using Knowledge Coach to create audits tailored for each of your clients.
The recently launched CCH Learning and Development Academy School of Audit
provides you with an all-inclusive curriculum that brings together three essential types of training -- technical accounting, software tools, and professional skills -- into an integrated, workflow-based program tailored for specific organizational roles.
Powerful Features Contribute to a Complete
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.
- Extensive diagnostics 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
- 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.
- Streamline your workflow and eliminate costly duplication of effort through Engagement’s integration with ProSystem fx® Tax, ProSystem fx® Write-Up, ProSystem fx® Fixed Assets, ProSystem fx® Document, Portal and Practice.
- Access CCH’s Accounting Research Manager® and IntelliConnect™ directly from Engagement, and from within the ProSystem fx Knowledge Tools workpaper content used by Knowledge Coach.
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.
· Knowledge-Based Compilations and Reviews
· Knowledge-Based Audits of Commercial Entities
· Knowledge-Based Audits of Real Estate Entities
· Knowledge-Based Audits of Construction Companies and Contractors
· Knowledge-Based Audits of Not-for-Profit
· Knowledge-Based Audits of Governmental Entities
· Knowledge-Based Audits of Single Audits
· Knowledge-Based Audits of Employee Benefit Plans
· Knowledge-Based Audits of Financial Institutions
· Knowledge-Based Audits of Health Care Entities
· Knowledge-Based Audits of Public Companies (fall 2010)
Please contact your sales representative for more information on which titles are currently available and the release schedule for new ones.