Software backup and restore procedures
With audit software such as CCH® ProSystem fx® Engagement, having appropriate software backup and restore procedures in place is vital. These procedures ensure workpapers and other work products are recoverable and not lost in the event of a system crash, natural disaster, or sabotage. Moreover, this is not only critical for general business operation. Because, if a firm cannot produce support for their attest engagements for peer review or PCAOB audit, the firm could potentially be barred from performing attest engagements.
Internal control testing
Consider this. Try performing the same sort of internal control testing an auditor would do for their audit clients. Ask yourself this. Does your firm have adequate controls on their assets? For firms performing attest services, work product is one of their vital assets. Additionally, proper software backup and restore procedures help mitigate potential employee abuses. If a disgruntled employee deletes the firm’s workpaper data, you can restore the last backup and recover the deleted data. The fact is that regular backups may mean the difference between lost productivity and billable time.
IT Consulting Services
If your firm purchased IT Consulting Services for Engagement, your consultant discussed the importance of database and folder structure backups. They also walked through the setup of a scheduled task that runs nightly on your Engagement server. Include this nightly backup in your file and folder backup process, and store it in an offsite location.
If you have not attended an IT Consulting session, Wolters Kluwer’s Professional and Client Services team offers a custom session. Utilize this course to assist you in establishing a scheduled backup task for your databases, like the Engagement database. You will also learn how to restore the backup in the event of a catastrophic event. With nightly backups, you’ll rest easy knowing that your staff will not lose their hard work or hours of productivity.
Integrated Audit Approach
CCH ProSystem fx Engagement is part of Wolters Kluwer’s Integrated Audit Approach, along with TeamMate Analytics, CCH Audit Accelerator, CCH ProSystem fx Knowledge Coach, and CCH Accounting Research Manager. Learn more about how the Integrated Audit Approach can help improve your audit workflow. Then leverage the experts on our Professional and Client Services team to help educate your staff. Check out the available sessions today.