Best Practices for
Managing Audit & Tax
Engagements
Presented by:
Scott Roush, CPA
Brian Siet, CPA
Hosted by:
AccountingWEB
Aug 27, 2013
Presenter: Scott Roush, CPA
 Scott is a Principal in the Boardman, Ohio office of
Hill, Barth & King LLC (HbK) and has been with the
firm since 2005. He began his career in public
accounting in 1990.
 Scott has served clients extensively in the areas of
accounting, auditing and financial reporting. Over
his career he has also consulted a variety of clients
with mergers/acquisitions, public/private debt and
equity offerings, restructuring improvement
initiatives and numerous other technical
accounting matters.
 Scott serves on the HbK Assurance Practice
Committee and is one of HbK’s Quality Control
Principals, providing secondary review services as
well as research and counsel on complex
accounting issues.
Best Practices for Managing Audit & Tax Engagements
Presenter: Brian Siet, CPA
Solution Architect Manager
CCH, a Wolters Kluwer business
 Bachelor of Science Degree Cum Laude in Business
Administration concentration in Accounting from
Northeastern University in Boston.
 Worked for CBIZ Tofias for 8 years in the A&A
department and Tax department.
 Joined CCH in 2005 as a ProSystem Engagement
consultant working with small, medium and large
firms.
 Product specialist at CCH 2006-2008
 Performed many speaking engagements at firm
user groups and state societies on both A&A and
tax workflow.
Best Practices for Managing Audit & Tax Engagements
Objectives
 Tips & tricks to easier engagement management
 Integration that produces ROI and improved client service
 How to effortlessly overcome common pain points with the help
of ProSystem fx Engagement
Best Practices for Managing Audit & Tax Engagements
About Hill, Barth & King LLC

Founded in 1949

Headquartered in
Boardman, Ohio

11 offices in Florida, Ohio &
Pennsylvania

Approximately 250
employees
Best Practices for Managing Audit & Tax Engagements
Polling Question 1
 When it comes to implementing new product and
processes, what do you think puts the most strain on
your firm?
• Getting buy-in from all firm partners
• Initial setup and implementation time
• Other/Don’t know
Best Practices for Managing Audit & Tax Engagements
Pain Points - General
 Resistance to functionality / usage
 General lack of communication / idea sharing
 Poor binder management
• Not user/preparer friendly
• Not reviewer friendly
• Not conducive to roll-forward benefits
 Unintended / Inconsistent Usage
Best Practices for Managing Audit & Tax Engagements
Tip: Firm Policy/Practices Documentation
 Policies Document (Best Practices Document)
•
•
•
•
Needs documented
Periodic updates
User focus/friendly
Integration w/ professional standards requirements
 Tips/tricks quick reference card
• Avoids/addresses the information overload in a policies document
• Easy how-to guide
ROI



Less resistance
Staff compliance with policies
Efficiencies
Best Practices for Managing Audit & Tax Engagements
Polling Question 2
 What is most important to you when evaluating new
software?
• Ease of use
• Integration with other software
• Onboarding time
• Improving the end product
• The potential to re-design and have “one firm way”
of doing things
Best Practices for Managing Audit & Tax Engagements
Tip: Engagement Software Lead Team / Task Force




Consists of cross section of users – primarily practice people
Meet on a periodic basis – important
Make team known to staff
Focus
•
•
•
•
•
Software management
Oversee software training
Set firm practice options
Police Usage
Act as office/function champions
ROI



Better communications
Compliance
Efficiencies
Best Practices for Managing Audit & Tax Engagements
Tips: Engagement Training
 Core training
• Sample client binder
• Focus for user friendly binder and binder management / setup
• Investment mentality
 Specialized training
• Level – (i.e.. Reviewer)
• Function
• Issues training
ROI


Better practices
Compliance
 Efficiencies – today and tomorrow
Best Practices for Managing Audit & Tax Engagements
Tip: Communications

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Communicate smart, concise, important matters
Don’t overload
Include tips in Firm publishing
Organize the database library for easy use
Have champions report to offices/functions
Report to Partner Group/Management Group
ROI




Less resistance
Staff compliance with policies
Idea Sharing / Better Communications
Efficiencies
Best Practices for Managing Audit & Tax Engagements
Tips: Template Management
 Binder templates
 Workpaper templates
 Roll-forward properties
ROI


Staff compliance with policies
Efficiencies – today and tomorrow
Best Practices for Managing Audit & Tax Engagements
Tip: Database/Resource Library
 Internal Portal Database
•
•
•
•
Contains firm policies / best practices
Common error message resolution / troubleshooting
How-To Videos
Minutes of engagement team meetings
 Practice Side vs. IT Side?
ROI


Staff compliance with policies
Efficiencies
Best Practices for Managing Audit & Tax Engagements
Tip: Binder Management
 Access
• Staff assignments
• Special groups (i.e.. QC)
 Accessibility
 Rights/assignment management
 Function – tax linking, etc.
ROI

Efficiencies
Best Practices for Managing Audit & Tax Engagements
Polling Question 3
 If a client or perspective client asked, “Is your firm
paperless?” how would you respond?
• We are 100% paperless.
• Our risk management provider has suggested
maintaining certain files in “hard copy” format, but
other than that, we are paperless.
• We’d really describe ourselves as using “less paper”
than we used to.
• We’re paperless, but print certain files for
reviewers and recycle them.
• All of our engagements are on paper.
Best Practices for Managing Audit & Tax Engagements
Tip: User Staff Management
 Binder staff rights
 Admin Rights
 Need for periodic reviews
 Police practices
ROI




Staff compliance with policies
Protects firm
Enhances users
Efficiencies
Best Practices for Managing Audit & Tax Engagements
Best Practices for Managing Audit & Tax Engagements
Thank You for Attending
 For additional questions or to place an order, contact your Account
Manager at 800-739-9998.
 For more information, visit www.CCHGroup.com/AA.
 Presenter Brian Siet, CPA
• Phone: 877-400-0092
• Email: brian.siet@wolterskluwer.com
We look forward to continuing the discussion on how
CCH can help meet your needs.
Best Practices for Managing Audit & Tax Engagements