CCH® ProSystem fx®
Knowledge Coach
A Dynamic GPS for Auditors
Over 75% of surveyed CPAs say there is room for improvement in how their firm assesses risk. CCH ProSystem fx Knowledge
Coach is an audit preparation and execution tool — and a solution that can help. Working like a GPS for audits, CCH ProSystem fx
Knowledge Coach automatically links risks to program steps, provides diagnostics for unaddressed risks and flows information
through all workpapers on the fly. The result is a more efficient and higher quality audit that helps you understand your client
better than ever.
A Unique Approach Designed for Today’s Demanding
Audit Requirements
Industry Leading Titles, Guidance and
Authoritative Literature
CCH ProSystem fx Knowledge Coach is a planning tool, a workpaper
generator and an audit workflow management tool all in one.
Surpassing all other audit engagement management solutions on
the market, you’ll benefit from:
Obtain needed research all in one place with anytime access.
Developed by auditors for auditors, Wolters Kluwer’s Knowledge
Based Audit Methodology provides the best approach to
implementing AICPA risk-based standards, while helping you plan
and execute for a result that is a higher quality audit and a better
understanding of your client. Thousands of accounting professionals
around the world rely on Wolters Kluwer’s accounting and audit
content. The extensive library of industry-specific titles will support
your new audit process while helping your firm gain a competitive edge.
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Cumulative Increases in Accuracy and Efficiency Year-Over-
Year — Eliminate tedious manual practices. CCH ProSystem fx
Knowledge Coach flows data throughout all workpapers, provides
extensive diagnostics to ensure nothing is missed, and includes
powerful roll forward functionality.
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Higher Audit Quality and Compliance — Effectively tailor an
audit to a specific entity. Wolters Kluwer’s Knowledge-Based
Audit guidance leverages tailoring questions and your auditor’s
own professional judgment for a truly complete, thorough and
compliant audit that ensures all identified risks are linked to the
appropriate audit step.
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Reduction in the Tendency to Over-Audit — Dynamic coaching
allows your auditors to focus on needed steps, and identify
unnecessary ones.
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Transparency — CCH ProSystem fx Knowledge Coach tells your
auditors what it is doing through the use of drill-downs, workflow
links and real-time messaging.
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Total Flexibility — You control the content with industry-specific
tailoring, continual information feedback and changes that can
be made on the fly. Choose what needs to be maintained through
roll forward and content updates.
Using CCH ProSystem fx Knowledge Coach, DiCicco, Gulman
& Company LLP was able to:
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Improve realization 25%–35% per audit, saving
approximately 2,400 hours per year.
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Roll forward prior year audits, saving time and making it
easier for firm leaders to sign off on completed work.
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Strengthen the connection between risk assertions and
program steps.
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Reduce the risk of over-auditing due to the Knowledge-Based
Audit Methodology.
Read more on how DiCicco, Gulman & Company significantly
improved audit efficiency.
CCH® ProSystem fx® Knowledge Coach
Functionality That Transforms Auditing
A Complete End-to-End Workflow
CCH ProSystem fx Knowledge Coach runs alongside CCH
ProSystem fx® Engagement and incorporates all of the paperless
workpaper management, document sharing and sign off features
of CCH ProSystem fx Engagement. Additionally, CCH ProSystem fx
Knowledge Coach works with you as you plan and perform the audit:
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Tailoring questions identify and create recommended audit
procedures and workpapers by audit area.
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Allows financial and assertion level risks to be identified and
entered from any workpaper, and consolidates risks and related
program steps into an engagement risk summary.
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Links program steps to identified risks, and allows the addition of
custom audit areas and program steps to existing templates.
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Flows newly entered data within and across workpapers in all
appropriate locations, ensuring accuracy and efficiency.
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Automatically updates workpapers when you need to add or
change a related workpaper.
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Includes drilldowns, links and answer guidance that provides
transparency into the impact of actions, why recommendations
are made, and where data elements originated.
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Provides contextual help in a “tips pane,” plus provides
“answer effect” tips that explain how your answers will impact
recommendations, workpapers and information flow.
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Extensive diagnostics — inside and outside of workpapers —
to identify missing steps, incomplete workpapers or unaddressed
risks throughout the audit.
Wolters Kluwer’s integrated suite is designed to work in your
everyday accounting and audit workflow processes providing
all of the functionality needed to run efficiently and effectively.
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Accounting and audit research
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Workpaper management and trial balance
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Audit preparation and execution
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CPE
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Data analysis
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Adobe® tools
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Knowledge management
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Portals
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Document management
Visit CCHGroup.com/AA, or contact your Wolters Kluwer Account
Representative, to learn more about how we can help you provide
an even better experience for your clients.
Required Annual CPE
Technical tax and accounting knowledge, software training and
professional skills — CCH® Learning & Development Academy —
School of Audit offers a proprietary approach that integrates
these critical areas into a real-life, hands-on computer experience.
Raise the bar on your firm’s credentials by trusting an industry
leader for all your learning and CPE accredited professional
development needs.
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Hyperlinks to our online research database, CCH® Accounting
Research Manager®, provide access to source documents
from the AICPA, GASB, FASB and more, plus guidance from
Wolters Kluwer’s auditing experts.
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Saves answers to questions, custom program steps, audit areas
and risks in templates that can be re-used for other clients and
similar engagements.
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Powerful roll forward capabilities allow you to keep information
from prior year audits, creating dramatic efficiency improvements
in subsequent years.
“The investment you make in the
first year will come back two fold
in the next year — especially at the
Partner level.”
— Leo Moretti,
Quality Control and Accounting & Audit Partner, YKSM
For More Information
CCHGroup.com/ProSystemKnowledgeCoach
800-PFX-9998 (800-739-9998)
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