Thomson Reuters Streamlines Compilation and Review of US Financial Statements

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Thomson Reuters has released PPC's SMART Practice Aids - Compilation and Review to help accounting firm professionals conduct compilation and review engagements more efficiently and with greater confidence. 

"Accountants must comply with professional standards and contend with increased competition and pressure to reduce fees," said Jim Reeves, vice president of professional market, Thomson Reuters. "Our new 'SMART' offering brings all of the efficiencies and time-saving features of the SMART product line to the compilation and review engagement processes. SMART tools help our customers stay in compliance, while reducing billable time spent performing an engagement." 
The decision-making tools within the SMART functionality are integrated with PPC's Guide to Compilation and Review Engagements, available on the industry-leading Thomson Reuters Checkpoint platform
PPC's SMART Practice Aids - Compilation and Review includes:
  • Simple, automated checklists and forms to walk users through the entire engagement.
  • Coverage of multiple industries, including commercial, construction, dealerships, homeowners, and nonprofit.
  • Coverage of multiple engagement types, including interim reviews performed under US auditing standards and interim reviews of public companies.
  • Hyperlinks to relevant content on Checkpoint.
  • Year-to-year roll forward of engagements with changes automatically flagged, saving time even on simple recurring engagements.
  • Diagnostics to identify errors and inconsistencies.
  • Integration with Thomson Reuters' software Engagement CS, AdvanceFlow, and PPC's SMART Practice Aids - Disclosure.
Thomson Reuters' suite of SMART offerings now includes: 
  • PPC's SMART Practice Aids - Compilation and Review
  • PPC's SMART Practice Aids - Disclosure
  • PPC's SMART Practice Aids - Field Work
  • PPC's SMART Practice Aids - Single Audit 
  • PPC's SMART Practice Aids - IFRS Disclosure
  • PPC's SMART Practice Aids - Internal Control
  • PPC's SMART Practice Aids - Risk Assessment
For more information on PPC's SMART Practice Aids, visit the website or call (800) 431-9025.