CCH ProSystem fx Knowledge Coach Launches New Knowledge-Based Audit Titles

Wolters Kluwer Tax & Accounting has announced 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.”