Our story begins with our firm’s audit Partner, Jay, evaluating how to best accomplish integrating AICPA requirements into their operations, like risk assessment and data analytics for example. Jay knows the need is real to ensure compliance and significantly boost productivity so that the firm continues to be seen as a leader in the field. Jay defined his firm’s goal as adopting solutions that streamline workflows, foster better collaboration, and leverage innovative technology.
The value of integration
The firm’s journey began with a comprehensive assessment of existing processes and identifying areas where upcoming features of CCH Axcess Engagement could bring the most value. After research and investigation, the firm decided that the integrated tools that make up the CCH Axcess Audit - Cloud Audit Suite were the ones that would best help them accomplish their goal. Those tools include:
- CCH Axcess™ Engagement: This cloud-based engagement management software simplifies workflows and enhances collaboration. It helps firms manage workpapers and trial balances efficiently, ensuring compliance by providing a structured and organized approach to engagement management.
- CCH Axcess™ Knowledge Coach: Built on a dynamic risk-based audit methodology, Knowledge Coach makes sure that teams focus on the most critical areas of each engagement. This aligns with the AICPA's emphasis on risk assessment, helping firms identify and address risks effectively and accurately.
- CCH Axcess™ Validate: This tool accelerates bank confirmations with a cloud-based audit software that leverages blockchain technology. It eliminates human error and ensures fully digital, certified, and compliant bank statements, which are key to maintaining high-quality management standards.
- TeamMate® Analytics: Packed with over 150 tools and features, TeamMate Analytics made data analytics easy for auditors. It includes a test library with 200 audit tests, data preparation tools, and custom modules for continuous auditing. Visualization is an additional tool that enables more powerful conversations with clients, whether as a review or deeper consulting.
- TeamMate® Document Linker: This tool automates the process of linking documents to specific tests of detail, saving valuable time and ensuring every audit step is backed by a reliable and traceable audit trail. It enhances audit quality by confirming supporting evidence is correctly validated and easily accessible.
- CCH® AnswerConnect: A comprehensive research platform, this tool provides immediate access to accurate and up-to-date information, helping auditors ensure adherence to the latest standards. The platform's robust search capabilities and AI functionality enable auditors to quickly find relevant information, streamline their workflows, and enhance the quality of their audits.
Jay especially liked that other CCH Axcess Audit customers backed his decision. One example is Robert Tilton, Partner at WebsterRodgers. Robert shared:
