You may have read in the news recently about a patent for the application of AI specific to the roll forward/update processes during an audit . Interestingly, Wolters Kluwer didn’t need AI for its roll forward/update process in the award winning Knowledge Coach solutions. We architected those processes, in CCH® ProSystem fx® Knowledge Coach and CCH Axcess™ Knowledge Coach, to ensure auditors 100% certainty. Let’s take a closer look into what I mean by that.
Roll Forward with 100% Certainty
In 2021, it’s more important than ever for auditors to consider how to improve their processes. Put simply, auditors must find ways to increase both quality and efficiency. For this reason, the roll forward and update processes in Knowledge Coach guarantee:
- Updating to the latest content, while also allowing you flexibility to keep your answers and customization without any guess work
- Handling updates to pronouncements and professional standards with ease, simply as part of the integrated audit approach
- Providing auditors full visibility of the content they are using, which helps ensure compliance
Rest assured, this reliable tool is one that Peer Reviewers look for. Having passed QCM Examination, Knowledge Coach gives Peer Reviews peace of mind. Furthermore, Knowledge Coach offers ALL industry titles, has a patent on areas within the audit application that helps avoid the most common peer review missteps, and the solution itself has passed AICPA Peer Review.
Roll Forward with Risk-Based Technology
Consequently, while another vendor might have leveraged AI for the roll forward/update process, fact is that AI isn’t needed. Indeed, Knowledge Coach’s longevity and success in the marketplace proves that. To reiterate, Knowledge Coach is the best choice for audit firms for 3 reasons:
- Knowledge Coach doesn’t rely
on AI to determine applicable standard updates and pronouncements for specific
procedures. Instead, it is architected to update 100% of the content to the
latest version of the industry specific content.
- Auditors are certain that all audit content is updated correctly, and that their answers and customizations are retained.
- This ability is available for both CCH® ProSystem fx® Knowledge Coach and CCH Axcess™ Knowledge Coach – and for ALL industry titles.
- Auditors don’t have to wait
for updated standards to be available before they roll forward.
- Knowledge Coach allows auditors to roll forward whenever they need to, and then update any time during an active engagement while keep answers and customizations in the next content version.
- Knowledge Coach is a reliable tool, and one that Peer Reviewers look for.
In your final analysis, you should find time to look at Knowledge Coach … or look at it again. In either case, and without a doubt, this risk-based technology is what will improve the workflow of your accountants and auditors. See it for yourself today, Knowledge Coach video overview.