Thomson Reuters has released PPC’s SMART Practice Aids – Compilation and Review to help accounting firm professionals improve compilation and review engagements.
PPC’s SMART Practice Aids - Compilation & Review includes automated checklists and forms to walk users through the entire engagement. It covers industries such as construction, dealerships, homeowners, and nonprofit. It also covers multiple engagement types including interim reviews performed under U.S. auditing standards and interim reviews of public companies. There are hyperlinks to relevant content on Thomson Reuters' Checkpoint accounting and tax research service, along with year-to-year roll-forward of engagements with the changes automatically flagged.
Diagnostics in the system help identify errors and inconsistencies. The system integrates with Thomson Reuters’ Engagement CS, AdvanceFlow, and PPC’s SMART Practice Aids – Disclosure software.
“Accountants must comply with professional standards and contend with increased competition and pressure to reduce fees,” said Thomson Reuters vice president of professional market Jim Reeves. “Our new ‘SMART’ offering brings all of the efficiencies and time saving features of the SMART product line to the compilation and review engagement processes. SMART tools help our customers stay in compliance while reducing billable time spent performing an engagement.”
Thomson Reuters’ suite of SMART offerings now include: PPC’s SMART Practice Aids – Compilation and Review; PPC’s SMART Practice Aids – Disclosure; PPC’s SMART Practice Aids – Field Work; PPC’s SMART Practice Aids – Single Audit; PPC’s SMART Practice Aids – IFRS Disclosure; PPC’s SMART Practice Aids – Internal Control; and PPC’s SMART Practice Aids – Risk Assessment.
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