technology

it’s time for some outside help.

by roman h. kepczyk

traditional audit practices use the previous year’s audit programs and processes updated for the current year as their standard operating plan. eventually this can lead to a significant amount of “overauditing.” breaking this habit is difficult as every level of staff has been trained in the manual processes and falls back on them when deadlines approach.

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many firms have rightfully transitioned to digital “document container” applications such as caseware, wolterskluwer/cch engagement and thomson reuters engagement cs. not all of these firms have changed their approach to reviewing progress on the audit and the financial reporting on a computer screen in a digital format.
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twain compliance dictates some choices.

by roman h. kepczyk

the advent of today’s audit “document container” applications has transitioned every aspect of audit production into a digital format. the key to successfully using these engagement applications is to make sure your personnel have the optimal equipment with them to work digitally.

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this includes

• multiple monitors,
• image capture equipment and
• remote communications capabilities.

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where does the most potential benefit lie?

by roman h. kepczyk

every firm has accountants who are 10 percent, 20 percent or even 50 percent more productive in their departments than other personnel because they have simply “figured it out.”

more: teach your clients to send info digitally | why you want a digital tax workflow system | why digital communications matter | the right tech tools for covid work-from-home | it’s 10 p.m. do you know where your backups are? | the best scanners to buy today
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unfortunately, when these people leave the firm, their unique knowledge of specific processes and shortcuts goes with them. it is the responsibility of firms to capture these individuals’ best practices so that that specific knowledge can be shared and accessed by all firm members both now and in the future. this can be accomplished by making a concerted effort to develop a best practices manual within each department.
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email is comfortable, but not always secure.

by roman h. kepczyk

one of the most critical steps in transitioning a firm to a paperless environment is capturing information in a digital format at its root source as that information enters the firm.

at the base level, this means having clients provide you information in a digital format, which can be done via email, digital fax or through a portal rather than with a physical document. while email is currently the most prevalent tool utilized by clients, it is anticipated the security concerns will help clients transition toward portals.

email has been the most frequent tool used as most clients are comfortable attaching a spreadsheet or document and sending it to the firm. this method allows the digital file to be easily accessed and saved into the firm’s file storage applications. read more →