Diagnostics – a Check Audit Warning Light

Diagnostics – an Ounce of Prevention

One night while driving home the ‘low tire pressure’ warning light appeared on my dashboard.  When I accessed my vehicle’s message center, I quickly saw which tire had low pressure.  Luckily, that warning allowed me to stop and fill the tire with air and avoid significantly bigger issues down the road.   

Does that scenario make you wonder if auditing software could provide similar warnings to help drive audit quality and efficiency?

Diagnostics in Knowledge Coach

Fortunately, Wolters Kluwer Knowledge Coach users don’t have to wonder. Indeed, the Knowledge Coach solutions provide those warnings. 

Specifically, CCH® Prosystem fx® Knowledge Coach and CCH Axcess™ Knowledge Coach provide auditors with a robust set of interactive warnings known as diagnostics – which proactively help auditors avoid errors and comply with audit standards.  Additionally, the diagnostics serve as a first-line-reviewer, helping train staff and identify commonly overlooked issues.   

To continue, diagnostics fall into three primary categories:

  • First, status diagnostics alert on issues such as missing forms, missing sign offs or unanswered questions with forms   
  • Second, logic diagnostics warn of potential errors when information is inconsistent between forms or deviate from the audit plan  
  • Third, risk assessment diagnostics inform when risks are unaddressed, or program steps are improperly linked to risks 

Moreover, they don’t just provide information to the auditor. They are also interactive!  For example, by selecting a diagnostic, the auditor goes directly to a cell withinty

the related form. Also, missing forms can be added directly from the diagnostic. 

A Big Picture View

Furthermore, a common frustration for audit reviewers is not seeing a big picture view of the engagement.  How does the reviewer know that all needed procedures are performed, risks addressed and documentation is consistent?  Because the diagnostics summary allows the reviewer to see all the diagnostics in one place.  In fact, simply filter the diagnostic summary by workpaper or diagnostic type allowing reviewers to quickly identify key issues remaining in the audit. 

See the Light

In conclusion, while technology can’t replace auditor judgement, it can enhance audit quality and efficiency.  Auditors are no longer left wondering if forms and checklists are complete.  By leveraging the power of diagnostics, auditors are confident that all procedures are complete, documentation is consistent and risks have been addressed. 

If you are not a Knowledge Coach user, see the power of this solution for yourself in this short, online demo.

AUTHOR

Patrick Tokarski

All stories by: Patrick Tokarski