NEW YORK - Thomson Reuters has released PPC’s SMART Practice Aids - Audit Essential onto its industry-leading online platform Thomson Reuters Checkpoint. The tool provides the essential functionality that audit professionals need to easily conduct audit engagements.

“In the current industry environment, audit firms face increased competition and pressure to reduce fees while navigating complex audit standards that are time-consuming to incorporate into processes,” said Scott Spradling, vice president audit & accounting, Thomson Reuters. Audit Essential is a simplified entry point into SMART for firms that are currently using static practice aids.”

Functionality includes:

• Roll-forward of engagements with changes flagged to the next period.
• Ability to use the tool alone or with other Thomson Reuters engagement products.
• Automated workflow of the steps and information needed to conduct an engagement.
• Ability to create custom audit programs to meet unique needs of clients.
• Access to licensed content from authoritative authors under Thomson Reuters brands: PPC, RIA, and WG&L.

PPC’s SMART Practice Aids – Audit Essential is integrated with other Thomson Reuters tools and software including:

• PPC’s SMART Practice Aids – Disclosure, which includes the disclosure requirements applicable to the entity and significantly reduces time necessary to complete a lengthy disclosure checklist on each engagement.
• Engagement CS, which is a blend of engagement tools, document management, trial balance and financial statement capabilities - integrated with licensed guidance.
• AdvanceFlow, which is the first web-based engagement solution, designed to complement Thomson Reuters GoFileRoom platform used by most of the top U.S. accounting firms.

“For those professionals who don’t need a simplified audit engagement tool, PPC’s SMART Practice Aids Audit Suite is available for complete SMART functionality including full multi-user capability, an engagement dashboard, SMART design and navigation features, and more,” added Spradling.

For information on subscribing to Checkpoint tools, visit https://tax.thomsonreuters.com/products/brands/checkpoint/contact.

Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and operates in over 100 countries. For more information, go to www.thomsonreuters.com.