Wolters Kluwer

CCH® Audit Accelerator – Do what Auditors really do; Understand metrics for your clients!

Meet your clients’ challenges with an immediate ROI with success factors that have:

  • Clear client engagement strategy
  • Smooth service delivery
  • Excellent client relationship

There are significant time savings when you have access to your client data and the workpapers are automatically created for you on the first day of the engagement. Find out how much time you will save!

Yesterday’s Traditional Workflow Improvements to your Workflow with CCH Audit Accelerator
Enter Hours Spent Challenges facing firms New Hours Required Improvements

Update request list for all documents required for the engagement

Manual time spent updating the request list and possibly missing a request.

The auditor may have forgotten to ask the client for various reports or data.

The request list is significantly reduced because you will have access to all the data and reports. This results in improved client communication.

Requesting the documents from the client via request list & verbal explanation

There is often significant time spent waiting for your client to provide the requested items, which has a direct impact on the schedule.

Your client will receive an email with a link to connect to their accounting package. There is less risk to your schedule in busy season when you have all the data and workpapers you need on the first day of each job.

Tip: All the data subsequent to year-end will also be available!

Gather documents from various places (example: portal and various emails from team members)

There is a risk that audit documents are in inappropriate places; may result in multiple requests inadvertently since the data is disorganized.

All the workpapers can be generated from one place using the Audit Accelerator.

Learn the format of the reports because they all look different from various accounting systems

When reports are generated from the various accounting packages they all look different – this makes it hard for new staff to work with. It also makes it harder to review.

All the reports and workpapers are standardized, no matter what accounting package the Audit Accelerator is connected with – this makes it easier for the staff to learn and work with.

Convert data from a .PDF, or other file type, to a clean EXCEL file

This takes a significant amount of time, which has a direct impact on the schedule.

Audit Accelerator automatically converts all data to an Excel format. Therefore, zero auditor time is required.

Ensure reports provided by the client all "tie out to the financials" and "foot"

The auditor needs to ensure that the data was not manipulated after generating reports from the system.

There is increased confidence in data integrity because the auditor is accessing the source data.

Planning the engagement, time is spent on various activities:

  • Draft and review prelim financials
  • Ask client for details behind balances
  • Perform a multi-year trend analysis
  • Perform data analytics on the detail data

To have effective planning the auditor needs to have a solid understanding of their client.

The preliminary financials are automatically created and it is very easy to see trends to give you the big picture of your client at the beginning of the engagement for effective planning.

Remove all documentation from emails, portals, after the engagement.

It is important that all audit documentation is removed from various places once the job is finalized.

Using the Audit Accelerator, all the data is in the portal and can be deleted easily.

Manually create workpapers used within Engagement

 

All workpapers are automatically created in a standard format. There is also access to the Accounting Receivable ledger and Accounts Payable ledger.

Total Hours Saved:
See the future of auditing in action.