The Tax & Accounting business of Thomson Reuters plans to offer a new audit and engagement management application that, starting later this year, will provide advanced trial balance and engagement management functionality for larger firms with sophisticated audit practices.

Scott Fleszar

Known as AdvanceFlow, the product will complement the document management and workflow capabilities of the company’s GoFileRoom, allowing GoSystem Tax RS and GoFileRoom to work together. In addition, PPC’s Smart Practice Aids will be an integral part of the audit system.

The new application will be Web-based, using secure data centers. A preview version is already being evaluated by a select group of partner firms.

“GoFileRoom and PPC’s Smart Practice Aids are already used by the majority of the top 100 firms in the profession,” said Scott Fleszar, vice president of strategic marketing at the Tax & Accounting business of Thomson Reuters. “By adding AdvanceFlow, professionals will be able to take advantage of an even more powerful combination of functionality and control for audits and other document management needs. AdvanceFlow is a great example of the power that cloud-based computing has to remove geographical and technology barriers, and allow firms to use information in new, more productive and collaborative ways.”

For more information, visit http://CS.ThomsonReuters.com/Products.