CHECKPOINT TOOLS. PPC s SMART PRACTICE AIDS COMPILATION AND REVIEW

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1 CHECKPOINT TOOLS PPC s SMART PRACTICE AIDS COMPILATION AND REVIEW

2 GET A STANDING OVATION FOR YOUR PERFORMANCE WITH PPC s SMART PRACTICE AIDS COMPILATION AND REVIEW Energize and streamline your engagement planning and performance of your compilation and review engagements, using automated, industry-tailored checklists and forms. PPC S SMART Practice Aids Compilation and Review works alone or with all paperless engagement products and provides exclusive integration with our own Engagement CS and AdvanceFlow. You ll also be able to eliminate the mechanical effort of navigating and completing disclosure checklists, through integration with our SMART Disclosure module, allowing you and your staff to focus on what counts ensuring compliance with all disclosure requirements. This streamlined process means you can get your work done faster, while being even more confident in your results. Now, that s worth some applause. 2 PPC s SMART PRACTICE AIDS COMPILATION AND REVIEW

3 FEATURES & BENEFITS Here are some of the outstanding features and benefits you ll get with PPC s SMART Practice Aids Compilation and Review: SMART Engagement Setup will automatically tailor your practice aids based on your answers Specialized industries content including commercial, construction, dealerships, homeowners, nonprofit, and more Streamline your compilation, SSARs review, SAS review, and PCAOB review engagements Engagement Dashboard displays overall engagement and individual statement status at a glance Get alerts and diagnostics Link to content-specific paragraph guidance and professional standards licensed on Thomson Reuters Checkpoint Work simultaneously with coworkers on the same client engagement Manage the entire audit engagement within the SMART Suite, or seamlessly store documents in your engagement software Rollforward the client engagement and bring forward information to the next period Integrates with PPC s SMART Practice Aids Disclosure Conduct interim and annual compilation third party and management use only, SSARs review, SAS review, and PCAOB review PPC s SMART PRACTICE AIDS COMPILATION AND REVIEW 3

4 SMART Navigator guides staff through the engagement process from beginning to end Easily complete your work and sign off procedures program steps within SMART and insert linked workpaper references 4 PPC s SMART PRACTICE AIDS COMPILATION AND REVIEW

5 For review engagements, a SMART Analytical Procedures Documentation Form in Microsoft Excel format is available. This form provides a list of common ratios by financial statement area, allows you to tailor the list by using the Excel functionality to delete or add sheets or to delete or add ratios, calculates the selected ratios, and provides a guide for meeting the analytical procedures documentation requirements of the Standards. PPC s SMART Practice Aids - Compilation and Review integrates with PPC s SMART Practice Aids Disclosure, significantly reducing the time necessary to complete a lengthy disclosure checklist on each engagement. Spend less time mechanically filling out checklists and more time ensuring compliance with financial statement disclosure requirements. You ll be able to: Create a streamlined disclosure checklist that includes only the disclosure requirements applicable to the entity Easily update your disclosure checklist to ensure you and your staff are using the most current checklist available on each engagement See highlighted new or changed disclosure requirements Link to content specific guidance licensed on Checkpoint for one click access to applicable FASB references Save mechanical time by rolling forward answers from the prior period, if desired Rely on diagnostics that alert you to unanswered questions and inconsistent responses Search extensive sets of PPC example note disclosures for commercial, not-for-profit, and governmental engagement Create firm libraries of approved note disclosures as needed Use separately or with the SMART Practice Aids Suite PPC s SMART PRACTICE AIDS COMPILATION AND REVIEW 5

6 FOR MORE INFORMATION Call Or visit tax.thomsonreuters.com About 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, legal, tax and accounting, healthcare 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 more than 55,000 people and operates in more than 100 countries. For more information, go to Thomson Reuters 3 Times Square New York, NY Contact Us tax.thomsonreuters.com 2013 Thomson Reuters. Checkpoint and WG&L are registered trademarks of Thomson Reuters (Tax & Accounting) Inc. All rights reserved. All other trademarks listed herein are the property of their respective owners. T _4/13