Interactive Title Format Creates Efficient and Effective Integrated Tool for Audits of Auto and Equipment Dealerships.
Wolters Kluwer Tax and Accounting today announced a new solution to help professionals accurately and effectively conduct audits of dealership entities. The CCH ProSystem fx Knowledge Coach – Knowledge-Based Audits of Dealerships provides relevant and up-to-date expert information, risk assessment tools and practice aids to guide the auditor through efficiently performing financial statement audits of dealerships in compliance with auditing standards generally accepted in the United States (U.S. GAAS).
Applicable for all types of dealership entities, including vehicle and equipment dealers, this new title within CCH ProSystem fx Knowledge Coach increases the value of Wolters Kluwer’s Integrated Audit Approach – a multiple solution approach that includes ProSystem fx Engagement, ProSystem fx Knowledge Coach and CCH Accounting Research Manager. Supported by the iterative foundation of the Knowledge-Based Audit (KBA) Methodology, the Integrated Audit Approach leverages auditor expertise to drive the overall audit process – not standardized, pre-defined checklist methods. The result is a higher quality audit that minimizes compliance risk while boosting overall efficiency. CCH ProSystem fx Knowledge Coach allows auditors to use the KBA methodology more efficiently by eliminating the need for duplicate entry of the same information, tailoring audit documentation to each particular engagement and documenting the link between risks identified and procedures performed.
“Dealerships face unique accounting and reporting challenges and practitioners have told us they need a solution that will help them to properly navigate the specific complexities of dealership audits,” said Dave Shalit, VP Product Operations at Wolters Kluwer Tax and Accounting. “With our new KBA Dealership title and the Integrated Audit Approach as the cornerstone of this solution, practitioners gain not only a specialized solution but a superior audit experience through dynamic, iterative processes and tools that encourage auditor judgment and continual learning.”
About Wolters Kluwer Tax and Accounting
Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency.
Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.
Wolters Kluwer reported 2015 annual revenues of €4.2 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).