Tax & AccountingComplianceJune 12, 2019

Wolters Kluwer shows how a knowledge-based audit methodology helps overcome common audit missteps

Cathy Rowe, Wolters Kluwer Tax & Accounting highlights how a knowledge-based audit methodology can help overcome audit missteps at 2019 AICPA Engage Conference.

Cathy Rowe, CPA, CA and Director of Accounting and Audit Product Management at Wolters Kluwer Tax & Accounting North America, will participate in the “Methodology Providers Address Common Missteps” expert panel taking place today at the 2019 AICPA Engage Conference in Las Vegas, Nevada. The session will assist audit practitioners in identifying common missteps driving non-conformity with AU-C Sections 315 and 330, and learn how to apply their audit methodologies in most challenging areas properly.

“In today’s complex environment, a disengaged audit process negatively impacts overall quality. Many audit methodologies and systems are currently built on standardized checklists and inflexible processes that fail to leverage auditor knowledge, which often discourages critical thinking,” said Rowe.

Wolters Kluwer Integrated Audit Approach focuses the audit process on auditor judgment. It facilitates their 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 unique approach combines the powerful content-driven tools of CCH® ProSystem fx® Knowledge Coach, the efficiency of CCH® ProSystem fx® Engagement, CCH® Audit Accelerator and TeamMate® Analytics, plus the comprehensive content of CCH® Accounting Research Manager®. The Integrated Audit Approach focuses on the entire end-to-end workflow to maximize efficiencies and guide firms to a higher quality audit without over or under auditing.

“The Knowledge-based Audit Methodology from Wolters Kluwer is a dynamic auditing process developed specifically in response to the AICPA’s risk assessment standards. Auditors can plan and produce higher quality audits based on continuous knowledge gathering and reflection to both minimize compliance risk and maximize their effectiveness and efficiency,” added Rowe.

Visit us at booth #309 during the 2019 AICPA Engage Conference to learn more about the award-winning portfolio of tax, accounting, and audit solutions from Wolters Kluwer.

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.