Frequency of Updates:
Your audit should be more than just mechanically filling out and managing workpapers, and now it can be. For the first time ever, your firm has a tool designed specifically to help you and your staff audit in the most effective and efficient manner possible from beginning to end. Plan and execute the entire PPC audit process within the SMART Audit Suite, providing even more efficiency to your audit workflow experience.
Simplify Your Risk Assessment Process and Avoid Over-Auditing:
With our robust risk-based audit program design, gone are the days of brainless checklists. The SMART Audit Suite is one of the most powerful, intuitive tools of its kind to help you pinpoint your audit procedures to avoid over-auditing. Let our patented risk assessment process build your audit program based on your documented risks and assertions. Plus, with SMART Audit Suite you have options, you can:
- Ensure your audit programs are highly tailored by assertion in response to risks with the SMART Design filter
- Tie risks directly to program steps if desired
- Start with a blank slate for a boutique audit and decide which program steps you'd like to use individually (that is, if you don't want the experts behind SMART Audit Suite to make suggestions for you)
- Utilize a user friendly and inventive way to document and even test controls over financial reporting both at the entity and activity levels (see also SMART Practice Aids — Internal Control)
SMART Practice Aids are simple, easy to use and navigate, so you and your staff are consistent across engagements.
Simplify Your Engagement Process by Completing Your Work in SMART Prior to Review:
- Allows you to complete the performance (or “field work”) portion of the engagement using SMART functionality
- The PPC Practice Aids you need are automatically placed into your engagement and other PPC Practice Aids can easily be added as needed.
- Data and information are automatically shared between practice aids. Your planning materiality, tolerable misstatement, and risk assessments are carried throughout your audit engagement, and staff are alerted to any errors or inconsistencies.
- Easily complete your audit work and sign off audit program steps within SMART and insert linked workpaper references to any document in SMART.
- SMART Navigator guides staff through the PPC engagement process in the most efficient manner, from beginning to end and, at a glance, provides a visual status of where things stand.
- SMART Engagement Dashboard lets you see status at a glance - both for the overall engagement and for each audit area, including audit program steps not yet started, in progress, or completed.
New SMART Audit Program Design helps isolate audit program steps by related assertion and identified risk, ensuring that your audit plan is highly tailored specifically to your risks helping you avoid both over-auditing and under-auditing.
Newer features will increase your efficiency without sacrificing quality:
SMART Engagement Setup will automatically streamline and tailor your practice aids and audit programs based on your answers to new setup questions at the beginning of your engagement. Planning questions not applicable to your client's situation will automatically be removed and audit programs will be automatically tailored.
SMART Start will help you to become much more efficient when auditing small, noncomplex entities. You will now have the option of beginning these audits with a complete set of practice aids and audit programs that are developed by our expert authors and pre-tailored for the unique characteristics of these types of clients. This will save you time by allowing you to review the pre-defined planning content and revise it where needed for your client, rather than starting with blank forms.
SMART Audit Suite can be used with or without engagement management software:
- If you use engagement software, you can continue to manage your engagement as you do now, and interaction between SMART Practice Aids and your engagement software is more seamless than ever.
- Create SMART documents to store in your engagement software.
- Opening SMART documents will launch directly to the appropriate section within SMART, ensuring that your PPC workpapers always stay in sync.
- Each time you use SMART, you will be prompted and provided a process for placing updated versions of any workpapers that have changed into your engagement software.
- If you don't use engagement software, SMART Field Work now allows you to manage your entire engagement within SMART. This includes adding, completing, and managing any workpaper necessary to document your audit procedures.
- Workpapers are grouped and managed by audit area.
- Workpapers can be signed off as completed and reviewed.
- Individual workpapers can be finalized so that other team members are notified if they attempt to access a workpaper that has been reviewed and finalized.
- Also, the entire engagement can be Finalized and placed in read-only mode.
If you're using only parts of the SMART Audit Suite, you're not realizing the full potential of your audit process. Use our full audit suite today including (Risk Assessment, Internal Control, Field Work & Disclosure).
All of our SMART Audit Suite options start with our patented risk assessment methodology as well as the ability to conduct your field work inside of SMART Practice Aids. Additional functionality available: SMART Practice Aids — Disclosure, Internal Control, and Compilation & Review. We also have the newest member of the SMART family of products; SMART Practice Aids — Single Audit Suite.
- PPC's SMART Practice Aids: Disclosure View
- PPC's SMART Practice Aids: Internal Control View
- PPC's SMART Practice Aids: Compilation and Review View
- PPC's SMART Practice Aids - Single Audit Suite View
- SMART Practice Aids Audit Suite Website View
- Checkpoint SMART Practice Aids Brochure View
- Checkpoint Tools Website View
- Checkpoint Tools Brochure View
- Audit & Accounting Update Brochure View