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KUALA LUMPUR, Malaysia, June 23, 2022 /PRNewswire/ — Wolters Kluwer Tax & Accounting Asia Pacific has announced the integration of the digital audit manual from The Malaysian Institute of Certified Public Accountants (MICPA) in Wolters Kluwer CCH® ProSystemfx® Engagement software. For MICPA, the partnership enables high-quality audit working papers that are fully compliant with MICPA audit methodology through the integration of CCH ProSystemfx® into its digital audit workbook.
Why integrate CCH ProSystem fx® into the MICPA audit methodology?
- Dynamic Trial Balance Links in Illustrative MICPA Working Papers
- Reduction of errors associated with the use of manually prepared paper documents
- Automatically updated link numbers using dynamic trial balance
- Staff can safely work on the same audit engagement simultaneously
What this means for audit professionals: Time saving. Better cooperation. More competent staff. Compliant audits.
Well-designed tools and processes facilitate instant access to paperless audits and client tax workbooks and foster teamwork. They allow multiple staff members to work securely on an engagement at once – remaining confident in file integrity and managing online approvals, re-review and document locking after final review from n any place.
“Audit and accounting firms around the world are moving towards technology and digital transformation. The integration of the MICPA Audit Handbook and CCH® ProSystem fx® reduces manual workflow, enabling a Considerable time savings and cost savings for companies that want to free up staff to work on additional revenue-producing tasks.” said Rakesh NaiduHead of APAC Product – Cloud SAAS for Accounting & Audit Professionals for Wolters Kluwer.
Today, with approximately 3,500 members, MICPA has been contributing more than six decades to setting accounting standards and technical guidance for Malaysian regulators responsible for the country’s business and financial landscape.
Dr. Veerinderjeet Singh, outgoing President of MICPA, welcomed the extension of the partnership with Wolters Kluwer. “We see the benefits of using Wolters Kluwer CCH® ProSystem fx® Engagement software as a secure and trusted platform to place our authoritative audit methodology. This will ensure that we maintain our high benchmarks and enable companies to improve their processes and standards – and we see these benefits extending into the future,” he said.
About Wolters Kluwer
Wolters Kluwer (WKL) is a global leader in professional information, software solutions and services for the healthcare, tax and accounting, governance, risk and compliance, and business sectors. legal and regulatory. We help our customers make critical decisions every day by delivering expert solutions that combine deep domain knowledge with advanced technology and services.
Wolters Kluwer achieved annual sales of €4.8 billion in 2021. The group serves customers in over 180 countries, maintains operations in over 40 countries and employs around 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
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