(NEW YORK, NY, October 23, 2018) — Wolters Kluwer Tax & Accounting today announced that CohnReznick, a top U.S. accounting and advisory firm, has selected its Integrated Audit Approach to deliver more efficient and intelligent audit services to its clients across its 26 CohnReznick offices. By implementing the Wolters Kluwer Knowledge Based Audit methodology, CohnReznick is taking a meaningful step towards achieving their “Audit of the Future” strategy.
“The Integrated Audit Approach from Wolters Kluwer will allow us to develop a more efficient and intelligent audit that leverages available technologies to enable the firm’s professionals to enhance their focus on being trusted advisors, and for our clients to continue benefiting from world class client service,” said Robert G. Hilbert, CPA, Managing Partner, Assurance, CohnReznick.
The Wolters Kluwer Integrated Audit Approach enables firms to elevate how they perform audits and to transform the services they offer. The Wolters Kluwer Integrated Audit Platform, delivers against the AICPA risk assessment standards and can be purchased as a whole or in modules. It includes:
- CCH® ProSystem fx® Knowledge Coach: provides the full audit workflow for improved audit quality and efficiency with capabilities that include linking procedures to risks, real-time diagnostics and linkage of workpapers
- CCH® ProSystem fx® Engagement: an end-to-end solution that combines workpaper manager, trial balance manager and workflow tool into one integrated solution – with the integration between Knowledge Coach and Engagement, firms are able to continuously update their understanding of their clients, add risks and dynamically update workpapers throughout the entire engagement
- CCH® Accounting Research Manager: this research tool provides results with meaningful context and interpretive guidance linked with authoritative content
- TeamMate® Analytics: a suite of more than 150 Computer Aided Audit Tools that allows auditors to easily perform powerful data analysis to deliver significant value for their team and clients
With a standard approach across its offices, CohnReznick will make their processes more efficient today and become ready for future adaptions to execute consistent quality audits that adhere to AICPA standards.
“CohnReznick’s resolve to transition from a service provider to a trusted advisor aligns with our purpose at Wolters Kluwer to help professionals deliver deep impact when it matters most,” said Jason Marx, CEO of Wolters Kluwer Tax & Accounting, North America. “Being selected as a CohnReznick Audit solution provider is another validation of the efforts we put behind our proven tax and accounting solutions.”
About Wolters Kluwer
Wolters Kluwer is a global leader in professional information, software solutions, and services for the health, tax & accounting, finance, risk & compliance, 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 2017 annual revenues of €4.4 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
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 (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY). For more information about our solutions and organization, visit www.wolterskluwer.com, follow us on Twitter, Facebook, LinkedIn, and YouTube.