NEW YORK--(BUSINESS WIRE)--Wolters Kluwer Tax & Accounting announced today new solutions to expand the Knowledge Coach offering, which is designed to help professionals accurately and effectively conduct preparations, compilations, review and audit engagements. The Knowledge-Based Examination of Service Organizations is a one-stop shop for comprehensive Service Organization (SOC) content, while the Preparation, Compilation & Review (PC&R) title is now available in three new individual titles that are specifically tailored for Not-for-Profit, Construction and Real Estate – with additional titles coming soon. These new tools provide relevant and up-to-date expert information to guide the auditor through efficiently performing engagements with quality documentation.
Built within CCH ProSystem fx Knowledge Coach, these titles increase the value of Wolters Kluwer’s Integrated Audit Approach – a multiple solution approach that includes CCH ProSystem fx Engagement, CCH ProSystem fx Knowledge Coach, CCH Accounting Research Manager, and the newly-launched CCH® Audit Accelerator, which helps automate the audit process. Supported by the iterative foundation of the Knowledge-Based Audit (KBA) Methodology, the Integrated Audit Approach leverages auditor expertise to drive the overall audit process – not standardized, pre-defined checklist methods. The result is higher quality engagements that minimize compliance risk while boosting overall efficiency.
Knowledge-Based Examination of Service Organizations (SOC) Title
In light of a recent AICPA clarity project that created a change in the organization of the attestation standards, there has been a renewed interest in examinations of service organizations and service auditor reports, and a need for auditors to have quality documentation. The new SOC title is the only title on the market with comprehensive SOC 3 content, giving auditors all they need for SOC 1, 2 & 3 in one resource, including:
- SOC 1, 2 & 3 covered in accordance with SSAE No. 18 — a Wolters Kluwer competitive advantage
- 100+ workpapers, including programs, checklists, reports and more
- All new literature, standards and developments, including the AICPA SSAEs, Attestation Standards: Clarification and Recodification (SSAE No. 18)
- An accompanying KBA guide will provide interpretative guidance from Wolters Kluwer experts
Industry-Specific Preparation, Compilation and Review Titles
The Industry-Specific Preparation, Compilation and Review titles offer dozens of tools to help auditors deliver higher quality engagements faster and more confidently than ever before — at every level of attestation. Highly automated and content-rich, these comprehensive templates and tools allow users to execute and document engagements with accuracy and efficiency, so they can spend less time customizing content and more time getting things done. Additionally, users can:
- Streamline preparations, compilations and reviews with specialized titles for: CIRA/HOA and Commercial, and the new Construction, Not-for-Profit and Real Estate industries
- Ensure compliance with disclosure requirements using hundreds of industry-specific resources authored by Wolters Kluwer experts
- Improve the quality of documentation — essential for a successful peer review
- Refer to an extensive content library covering nearly every possible scenario, including dozens of practice aids, sample reports, correspondence letters and disclosure checklist
“Firms are telling us that to do their best work they need current, comprehensive resources. Wolters Kluwer can help with that,” said John Barnes, Vice President of Product Management at Wolters Kluwer Tax & Accounting, North America. “The new Industry-Specific Preparation, Compilation and Review titles utilize hundreds of comprehensive templates and tools, allowing auditors to complete their engagements with unmatched accuracy and efficiency. Plus, the Knowledge-Based Examination of Service Organizations (SOC) Title provides the comprehensive SOC content that auditors need all in one place. It’s truly a one-stop shop.”
To learn more about these and other titles available for the CCH ProSystem fx Knowledge Coach solution, please contact a Wolters Kluwer sales representative at 1-800-PFX-9998 or click here.
About Wolters Kluwer Tax & Accounting
Wolters Kluwer Tax & Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency.
Wolters Kluwer Tax & Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).