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Discover the product that is saving firms up to 40% on each of their engagements after the first year of implementation. ProSystem fx® Engagement allows your firm to maximize efficiency by moving toward a true paperless office.
Add ProSystem fx Knowledge Tools to ProSystem fx Engagement and help your auditors tackle the new risk assessment standards effectively. Move smoothly through your audits with ProSystem fx Engagement's:
- Efficient Collaboration
Improve teamwork by sharing every document simultaneously. Check out only the workpapers you need, synchronize your work from any location, and e-mail an entire binder with one click..
- Flexible Security Features
Maintain control over who has access to your most sensitive client information. Obtain secure online sign-offs, and lock down workpapers as required.
- Time-Saving Automation
Save time and money by automating time-consuming tasks. Roll forward an
entire engagement with a single mouse click and start first-year engagements
with customized binder templates.
- Innovative Integration
Link financial data between ProSystem fx Tax and Engagement, so updates are made simultaneously in both programs. Leverage your investment in Microsoft® Office with workpapers based on software you already know. |
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The #1 software of its kind in the industry, ProSystem fx Engagement allows you to increase your billable hours as a result of the time savings you’ll gain from using the product.
- Reduction in costs associated with creating and storing paper documents.
- Instant access to your client files from any location at any time, helping increase your efficiency and improve your customer service.
- The security of having a computer backup of all your files that is free from the perils of fire or water damage.
- The risk mitigation you need for document storage and retention, helping you follow Sarbanes-Oxley and other regulatory compliance rules.
You can maximize your ROI on Engagement through training. Our Engagement consultants - boasting years of industry experience - will relate well with your staff and answer all of their questions. |
You can customize Engagement for the way you work. The program allows you to …
- Customize staff groups to represent the different levels and roles of staff members, and control who has “write” or “view only” access.
- Share and communicate staff information, licensing, and binders in a multi-office environment, with or without a wide-area network, using Office Servers.
- Grant access to engagement binders by individuals or by binder teams – or simply choose to assign all staff to all binders.
- Filter clients by group, using different methods.
- Share firm tips and policies using customizable Tips of the Day.
- Automatically update users with changes to staff and security rights as they log in to the program.
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Your engagements require you to create financial statements that meet a variety of needs. ProSystem fx Engagement allows you to …
- Generate statements that are industry-specific, can provide information for tax returns, and can be formatted for detailed financial analysis.
- Vary the formats of your statements to meet specific requirements, such as providing classified reporting.
- Simplify return preparation through exports to ProSystem fx® Tax.
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The following are just a few of the benefits you’ll experience from Engagement’s integration with other applications:
- Save engagement-related e-mails using new Microsoft® Outlook integration.
- Incorporate your Word® and Excel® workpapers and financial statements into electronic binders and automate them with links to client, engagement, and trial balance data.
- Take advantage of the only trial balance system built from the ground up on Microsoft® Word and Excel, allowing you to paste or insert links using ranges of cells, rather than inserting each cell individually into the link formula.
- Import data from popular trial balance packages such as ProSystem fx Trial Balance, GoSystem Audit, and ATB; automatically update every time you post a journal entry; export to popular tax packages such as ProSystem fx Tax, GoSystem Tax, and Lacerte; and efficiently post transactional entries.
- Streamline your workflow and eliminate costly duplication of effort through Engagement’s integration with ProSystem fx Tax, Write-Up, Fixed Assets, Document, and Practice.
- Access CCH’s Accounting Research Manager® and Tax Research NetWorkTM directly from Engagement.
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Complying with the new AICPA Risk Assessment Standards could pose a considerable challenge to your firm. The ProSystem fx Knowledge Tools module of ProSystem fx Engagement helps you comply with the new standards accurately and efficiently. In addition, practice aids and tools support the new audit process and help your firm achieve optimal results.
Knowledge Tools:
- Support the flow of information among the engagement team throughout the audit
- Enable linkages and tailored procedures with flexible, easy-to-use tools
- Ensure consistency and standardization across all published documents
The Knowledge-Based Audit
ProSystem fx Knowledge Tools ensure compliance effectiveness through a Knowledge-Based Audit (KBA). This updated audit methodology emphasizes understanding your client and its environment so you can accurately assess the risks of material misstatements. The KBA method focuses on information flow rather than document flow, enhancing communication between engagement team members and allowing for ongoing evaluation of procedures.
The KBA methodology utilizes a set of integrated procedures, from pre-engagement all the way through evaluating, concluding and reporting. The results of one set of procedures become input for another. These linkages provide evidence you might use to modify the nature, timing, or extent of other planned audit procedures. With all of the information at your fingertips, you’ll be able to make informed risk assessments using your own professional judgment and expertise.
Comprehensive Documents and Practice Aids
Knowledge Tools include all of the elements needed for accurate compliance.
- KBA documents contain steps and procedures that are required by Generally Accepted Auditing Standards (GAAS).
- Audit Program documents guide you through related steps and procedures.
- Practice Aids help you complete steps or processes outlined in other documents.
- Correspondence document templates include engagement letters and confirmation requests.
- Auditor’s Reports documents are templates for a variety of sample auditor’s opinions on audited financial statements.
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