RIVERWOODS, ILL., June 10, 2004) – Moss Adams LLP, the largest public accounting firm headquartered in the Western United States, is adopting ProSystem fx Engagement from CCH Tax and Accounting (CCH) for all its business assurance (including compilations, reviews and audits) and tax work. The award-winning paperless engagement software from CCH Tax and Accounting is being rolled out to the entire firm after a successful pilot that included the 2004 tax season.
“Having a firm of this caliber adopt ProSystem fx Engagement as an integral part of their vital workflow validates our belief that Engagement is on its way to fundamentally changing the way that accounting firms go about their business,” said Mike Sabbatis, Vice President of Sales and Marketing for CCH Tax and Accounting.
According to Jeff Brown, Partner and Director of Quality Control, ProSystem fx Engagement exceeded the firm’s expectations.
“Given the variety in our practice, we thought that only perhaps 85 percent of our engagements would end up using ProSystem fx Engagement, but based on our experiences from our pilot test, close to 100 percent will be compliant with the new standard, using ProSystem fx Engagement to manage all engagements,” said Brown.
Both preparers and reviewers working on audits reacted positively to ProSystem fx Engagement.
“Our preparers tend to be a tech-savvy group, and they see no sense in using paper anymore, with all the picking up and putting down and papers getting misplaced,” Brown said. “They expect that paperless is where we will go, and they see this as the tool to get us there.”
Reviewers found that it was “easier to get a good feeling that everything was there” with ProSystem fx Engagement organizing workpapers and flagging open items, Brown added.
The ability to share staff regardless of physical location and the ease of partner review and oversight of engagements both stood out as positives of the ProSystem fx Engagement system. Collaboration and synchronization was easy between professionals working out of multiple office locations. This makes it easier for the firm to involve “niche specialists” on engagements and to provide more high-value service to their clients.
“ProSystem fx Engagement allows Partners and Managers to focus their time at the client’s office on the critical issues and meet with the client’s senior management with less time spent sorting through workpapers, trying to chase down data,” Brown noted.
The integration between ProSystem fx Engagement and ProSystem fx Tax brought additional benefits.
“On the tax side, people have been pleased knowing that data, including adjustments resulting from the business assurance engagement, flows through from trial balance to the tax return. Everything is more organized and professionals don’t have to interrupt their work to track something down,” said Brown.
“The experience at Moss Adams confirms our belief that ProSystem fx Engagement can lead to streamlined workflows that benefit firms and their clients alike,” Sabbatis observed.
Brown of Moss Adams says of those who’ve used ProSystem fx Engagement so far: “They never want to go back to paper again.”
About ProSystem fx Engagement
Recent winner of the CPA Technology Advisor Tax and Accounting Technology Innovation Award, ProSystem fx Engagement streamlines tax and trial balance engagements and enables firms to increase efficiency by automating workpaper preparation, management and workflow within a state-of-the-art paperless engagement system.
ProSystem fx Engagement integrates with ProSystem fx Tax, the industry’s premier tax compliance system and other modules in The ProSystem fx Office suite of compliance and productivity applications. ProSystem fx Engagement stores audit and tax engagement binders in a Windows Explorer-style file room, allowing users immediate access to electronic engagement binders whether working standalone, remote or connected to the firm’s network.
Existing Microsoft® Word and Excel workpapers and financial statements can also be incorporated into ProSystem fx Engagement binders with links to client, engagement and trial balance data.
Through this type of integration and the seamless transfer of information, ProSystem fx Office users are able to streamline workflow and achieve a higher level of efficiency and profitability.
About Moss Adams
Moss Adams LLP (www.mossadams.com) provides accounting, tax and consulting services to public and private middle-market enterprises in many different industries. Founded in 1913, and headquartered in Seattle, Washington, Moss Adams has offices in Washington, Oregon and California.
Moss Adams is now the 10th largest accounting and consulting firm in the United States, and the largest headquartered on the West Coast. Its staff of 1,300 includes more than 180 partners. Moss Adams is also a founding member of Moores Rowland International (MRI), an international network of firms in over 90 countries that provide global business services to clients involved in international trade.
About CCH Tax and Accounting
CCH Tax and Accounting (www.tax.cchgroup.com), based in Riverwoods, Ill., is a leading provider of tax and accounting information, software and services. It has served tax, accounting and business professionals and their clients since 1913.
Among its market leading products are The ProSystem fx Office, CCH Tax Research NetWork, CCH Accounting Research Manager and the U.S. Master Tax Guide. CCH Tax and Accounting is a Wolters Kluwer company (www.wolterskluwer.com). Wolters Kluwer NV is a leading multinational publisher and information services company, with annual revenues (2003) of EUR 3.4 billion and approximately 19,500 employees worldwide (www.wolterskluwer.com).