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  3. Thomson Reuters Cloud Audit Suite: Audit Technology

THOMSON REUTERS

Cloud Audit Suite

Audit technology enabling real-time digital collaboration between audit teams and clients

Progressive audit and accounting technology for growth-minded firms

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Modern auditors know there’s never been a more challenging time to monitor and meet evolving regulatory changes and professional standards. And with emerging technologies like data analytics, machine learning, AI, and blockchain threatening to forever change the face of the accounting industry, firms are more focused than ever on innovation that will propel them into the next generation of audit automation. 

Cloud based tools are proven to be more effective and cost efficient, despite common misconceptions. With the Thomson Reuters cloud audit suite, firms can future-proof their audit capabilities through real-time digital collaboration, engaging employees with progressive technologies, and greatly improving client retention. Firms can deliver actionable insights and value-added services beyond the audit report.

Consistency is key - Sail through your next peer review with flying colors by applying the same consistent and streamlined engagement management process to all of your audits, reviews, compilations, and preparations with the most effective and efficient methodology on the market today.  Leverage Thomson Reuters cloud audit suite components:

  • AdvanceFlow: The most comprehensive web-based engagement management tool on the market with full trial balance capabilities, workpaper management, and financial statement reporting functionality.
  • Checkpoint Engage: Provides risk assessment workflow and tailored planning for audit and accounting engagements based on the award-winning PPC methodology. Checkpoint Engage lives inside AdvanceFlow so your teams can access planning activities and complete risk assessment procedures right within your engagement.
  • ConfirmationAllows you to initiate, track, and receive responses to audit confirmations—all in one secure, online platform where each party is validated. The audit confirmation process can now take a few days (or even just hours). It’s easy for you and your clients to use, and your clients’ data is safer here. Confirmation exceeds major industry security standards and passes hundreds of client security audits each year. 
  • Inflo: Enables project management, data ingestion, automated analytics, and ratio analysis and benchmarking with industry norms built specifically for the needs of auditors.

 

What audit automation provides to clients and firms

Cloud-based technology

Simplify your audit process from start to finish with an integrated, cloud-based solution that updates stakeholders in real time

Strategic business insights

Take your business offerings beyond the audit itself to provide clients strategic insights and advice based on robust data analytics

Real-time collaboration

Engage your staff with progressive technology and provide busy season work/life balance through efficiency and automation

Enables powerful integration

Eliminate inefficient, unbalanced workflows that negatively impact realization rates

Improved consultative services

Expand your client base and secure future revenue streams with more competitive tools and consultation services

Cutting-edge solution

Keep staff engaged and confident with cutting-edge tools that let them do their jobs quicker and more effectively

See the cloud audit suite in action

What is Thomson Reuters Audit Cloud suite?

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What our customers are saying

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Time savings realized with the integration between AdvanceFlow and Checkpoint Engage (2:22)
Chris Gleason of BHM CPA Group, Inc. talks about the efficiencies in their audit planning.

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Using Checkpoint Engage and AdvanceFlow in specialty audit requirements (2:21)
Tim Vande Werken of Evenhouse & Co. discusses improved accessibility and security for audit engagements. 

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Why We Use AdvanceFlow and Checkpoint Engage (3:21)
Accounting firm MN Blum shares how this integrated solution offers powerful efficiency and unparalleled flexibility to staff and clients.

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Find out how much your audit process costs

Find out now by using our audit calculator to gain insight into your current audit costs.

Ready to start a conversation?

Need more information about how our solutions can work for you? Drop us a line and someone from our sales team will get back to you. Or you can call a representative in your region at +1 800 968 8900.