Tax & AccountingJune 10, 2020

Wolters Kluwer Tax & Accounting expert to speak at the 2020 CalCPA Employee Benefit Plans Audit Conference about enhancing employee benefit audits with risk-based audit methodology

Wolters Kluwer Tax & Accounting is pleased to announce that Patrick Tokarski, Senior Technology Product Manager at Wolters Kluwer Tax & Accounting North America, will present on the topic of “Enhancing the Quality of Your Employee Benefit Audits” during the 2020 CalCPA Employee Benefit Plans Annual Audit Conference taking place online on June 12, 2020.

During the session, he will discuss why a risk-based audit methodology is the best approach to help ensure compliance with risk assessment standards. He will also address why tailoring capability in the audit technology you use is critical to driving compliance under the Employee Retirement Income Security Act section 103(a)(3)(C) exemption (limited scope audits), and he will outline the consequences audit professionals risk when maintaining a status quo.

“Recent peer review results show that many firms still struggle to implement the core requirements of the risk-based audit standards. When new standards, like SAS 136 for benefit plan audits, are issued it magnifies the problem,” said Patrick Tokarski. “Using an integrated audit approach and the CCH® ProSystem fx® Knowledge Coach or CCH Axcess™ Knowledge Coach solutions helps guide a firm through the requirements. These award-winning solutions can help ensure compliance and minimize risk, which is especially important in the current environment where most people are working remotely and communication can be more difficult.” 

The Wolters Kluwer Integrated Audit Approach focuses the audit process on auditor judgment, covering the entire end-to-end workflow to maximize efficiencies and guide firms to a higher quality audit without over- or under-auditing. This unique approach facilitates auditor’s ability to make informed decisions by ensuring that the audit is tailored for each client, always having a link to the assessed risk and the work performed.

This approach combines the powerful content-driven tools of CCH® ProSystem fx® Knowledge Coach and CCH Axcess™ Knowledge Coach, the efficiency of CCH® ProSystem fx® Engagement and TeamMate® Analytics, plus the comprehensive content of CCH® Accounting Research Manager® and CCH Axcess™ Financial Prep, the first dynamic cloud-based trial balance solution integrated with Xero, QBOnline, CCH Axcess™ Workstream, CCH Axcess™ Tax, as well as other cloud-based audit solutions soon to be released on the award-winning CCH Axcess™ platform.

Join the 2020 CalCPA Employee Benefit Plans Annual Audit Conference via webcast to hear Patrick Tokarski speak and learn more about his insights into employee benefit audits and the award-winning portfolio of audit solutions from Wolters Kluwer Tax & Accounting.

About Wolters kluwer

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the health, tax & accounting, governance, risk & compliance, and legal & regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.