The Tax & Accounting business of Thomson Reuters has released new Checkpoint Tools to help accountants handle specialized engagements, risk assessments and internal controls.
The new Checkpoint Tools include PPC's Practice Aids for Audits of Tax Basis Financial Statements; PPC's Practice Aids for Reporting on Controls of Service Organizations; and PPC's Smart Practice Aids - Internal Control. Additionally, PPC's Smart Practice Aids - Risk Assessment has been recently upgraded.
The tools integrate with PPC guidance on Checkpoint as well as with Engagement CS software from
Thomson Reuters.
The new practice aids work with Microsoft Word and Excel. PPC's Practice Aids for Audits of Tax Basis Financial Statements identify differences between GAAP and the income tax basis of accounting. The set of letters, checklists and audit programs is tailored to address specific issues and audit risks encountered when auditing financial statements prepared on the income tax basis of accounting.
PPC's Practice Aids for Reporting on Controls of Service Organizations is for CPAs performing SAS 70 engagements. It includes examples, checklists, practice aids and guidance that provide a step-by-step process for performing SAS 70 engagements.
PPC's Smart Practice Aids - Internal Control guides auditors through a risk-based approach to evaluating internal control over financial reporting, while PPC's Smart Practice Aids - Risk Assessment helps auditors generate custom audit programs based on their assessment of audit risk.
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