Wolters Kluwer Tax & Accounting has added new knowledge-based titles to its CCH Axcess Knowledge Coach and Knowledge Coach PCR solutions, including real estate; preparations, compilations and reviews of commercial entities; and more.
CCH Axcess Knowledge Coach now includes updated practice aids and tips for auditing commercial titles, common interest realty associations, construction, dealerships, employee benefit plans, examinations of service organizations, financial institutions, government institutions, health care, Dept. of Housing and Urban Development multifamily housing programs, nontraditional engagements, nonprofits, public company accounting oversight board audits and real estate.
The updated practice aids are designed to help firms implement the new requirements in SAS 134-140.
Knowledge Coach PCR tailors practice aids based on the characteristics of the firm and the client, which is meant to help accountants complete PCR (preparations, compilations and reviews) engagements entirely in the cloud. The system now includes titles, practice aids and tips for auditing commercial entities, common interest realty associations, construction, dealerships, nonprofits and real estate firms.
The solution has also been updated to help firms implement the requirements of SSARS 25, the AICPA's Statement on Standards for Accounting and Review Services No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions.
“With each new knowledge-based title available, especially under increasingly compressed timelines, we continue to help accounting firms deliver quality work regardless of their client’s industry,” said Cathy Rowe, vice president of product management, U.S. Professional Market, at Wolters Kluwer Tax & Accounting North America, in a statement. “Quite simply, the knowledge-based approach helps minimize risk and maximize efficiency and effectiveness in both accounting and audit work. For example, with audit work, customers tell us that with the knowledge-based approach they are automatically much more aware of the relevant audit assertions and how they tailor their audit approach to address each risk.”
