In 2019, Wolters Kluwer Tax & Accounting expanded its award-winning, cloud-based, tax preparation, compliance and workflow management platform – CCH Axcess™. The addition was an audit module named CCH Axcess™ Knowledge Coach.
Meet CCH Axcess Knowledge Coach
Notably, CCH Axcess Knowledge Coach tailors the audit based on the characteristics of the firm and the engagement. Specifically, it:
- One: directly links identified risks with audit steps
- Two: flows information throughout the workpapers where needed
- Three: monitors the engagement for completeness and compliance
And, all while allowing the auditor to exercise professional judgment.
Additionally, thanks to real-time, contextual-based diagnostics, notifications, and updates, this module provides auditors with:
- First, risk-based guidance
- Second, all the tools necessary to deliver a truly complete, thorough, and compliant audit
COVID-19 causing a new-normal
Because of COVID-19, we all now understand the need for flexibility. And, CCH Axcess Knowledge Coach provides that. For example, it enables working from anywhere at any time – which creates easier collaboration across engagements while also improving audit quality.
New titles
Equally important, new titles were released on May 14. Specific to conducting audits using CCH Axcess Knowledge Coach, they include:
- Common Interest Realty Associations Audit 2019
- Employee Benefit Plans 2020
- Service Organizations 2020
Even better, with CCH Axcess Knowledge Coach, purchased titles automatically add to your Axcess license! That means no action is needed by the user before accessing them.
To learn more, read our recent press release. Also, check out full 2020 Release Calendar here, noting that title release dates are subject to change. If you have any question, email KCquestions@wolterskluwer.com.
Conclusion
In conclusion, our audit strategy is twofold at Wolters Kluwer. To start, our strategy enables firms to elevate how to perform audits. Then, it also transforms the services you offer. Additionally, audit quality is foundational. To put it another way, we place a huge focus on risk assessment and documentation. Markedly, two items that are key to passing Peer Review.
Learn more about our complete Integrated Audit Approach. Specifically, it’s designed to help you succeed today and be ready for the future.
