(Kuala Lumpur, Malaysia) Wolters Kluwer Tax and Accounting Asia Pacific has announced the integration of the digital audit manual of the Malaysian Institute of Certified Public Accountants (MICPA) into the Wolters Kluwer CCH® ProSystem fx® Engagement software. For MICPA, the partnership enables high-quality audit workpapers, fully compliant with the MICPA audit methodology through the integration of CCH ProSystem fx® into its digital audit workbook.
Why Integrate CCH ProSystem fx® into the MICPA audit methodology?
- Dynamic trial balance links within MICPA illustrative workpapers
- Reduction in errors associated with using manually-prepared hardcopy documents
- Automatically updated link numbers using the dynamic trial balance
- Staff can securely work on the same audit engagement simultaneously
What that means for audit professionals: Time savings. Better collaboration. More knowledgeable staff. Compliant audits.
The well-designed tools and processes facilitate instant access to paperless audits and tax client binders and foster teamwork. They are allowing multiple staff members to securely work on an engagement at once — remaining confident in file integrity and managing online signoffs, re-reviewing, and locking documents after final review from any location.
“Audit and accountancy firms worldwide are moving towards technology and digital transformation. Integrating the MICPA audit manual and CCH® ProSystem fx® reduces manual workflow which enables considerable time-saving and cost reductions for firms wanting to free up staff to work on additional revenue-producing tasks.” said Rakesh Naidu, Head of APAC Product - Cloud SAAS for Accounting & Audit Professionals for Wolters Kluwer.
Now with around 3,500 members, MICPA has over six decades of contributing to the setting of accounting standards and technical advisory for Malaysian regulatory bodies responsible for the nation’s business and financial landscape.
Dr. Veerinderjeet Singh, Immediate Past President of MICPA has welcomed the partnership extension with Wolters Kluwer. “We see the advantages of using Wolters Kluwer CCH® ProSystem fx® Engagement software as a secure and trusted platform to place our authoritative audit methodology. It will ensure our high benchmarks are maintained and allow firms to improve their processes and standards — and we see those benefits extending into the future,” he said.