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Weekly News Digest

October 10, 2013 — In addition to this week's NewsBreak(s), the editors have compiled the Weekly News Digest, featuring stories from the week just past that you should know about. Watch for additional coverage to appear in the next print issue of Information Today.

CLICK HERE to view all of this week's Weekly News Digest items.

Thomson Reuters Launches Audit Essential

Thomson Reuters introduced PPC’s SMART Practice Aids - Audit Essential, a simplified audit workflow tool designed to make conducting audit engagements easier. It is integrated with Thomson Reuters’ productivity suite Checkpoint for tax and accounting professionals.

“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,” says Scott Spradling, vice president of audit and accounting.

Audit Essential helps firms “that are currently using static practice aids” engage with PPC’s SMART Practice Aids, according to Spradling. SMART Practice Aids provide content expertise and automation tools. When professionals begin an audit engagement, they can access Audit Essential to create a plan, assess risk, tailor engagements, and complete the audit program. Simple audits can use one of the tool’s predefined engagements, while more complex audits will need custom engagements. Audit Essential offers both.

Audit Essential is integrated with other Thomson Reuters auditing tools, including PPC’s SMART Practice Aids - Disclosure, Engagement CS, and AdvanceFlow.

Source: Thomson Reuters

Send correspondence concerning the Weekly News Digest to NewsBreaks Editor Brandi Scardilli

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