Thomson Reuters has introduced this week Checkpoint Engage PCR (Preparation, Compilation and Review). The company says the new product “provides consistency in both documentation and process”.
Thomson says the cloud-based Engage PCR, part of the Thomson Reuters Cloud Audit Suite, offers “a step-by-step process that includes embedded practical considerations: while automatically including the appropriate engagement and representation letters."
Engagement forms and procedures are automatically tailored, based on responses corresponding to each client’s unique circumstances with disclosure checklists automatically including only relevant requirements. Additionally, firms can create engagement templates specific to their firm’s protocol.
The system offers alerts and diagnostics, along with progress indicators, which can point to specific areas of concern. Moreover, each period’s workpapers roll forward onto forms that have been updated to reflect the next period’s engagement with new or changed questions and requirements flagged.
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards. Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that. A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
