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					         AUDIT PACKAGES



       “PAPERLESS” ENGAGEMENTS
           WHY? WHO? HOW?
NOVEMBER 5, 2002
NEW YORK STATE SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS
TECHNOLOGY ASSURANCE COMMITTEE

PRESENTER – DANIEL TIRONE, CPA
            D.TIRONE@WORLDNET.ATT.NET
           WHY?
 COST
 EFFICIENCY
 CONSISTENCY
 COLLABORATION
 CONTROL
 AUDIT STANDARDS – SAS 95
          WHY? - COST
   ACCORDING TO A COOPERS & LYBRAND
    STUDY IT COSTS $20 TO FILE A DOCUMENT,
    $120 TO FIND A LOST DOCUMENT AND $220
    TO REPLACE A LOST OR MISFILED
    DOCUMENT
   8% OF ALL PAPER DOCUMENTS ARE
    TOTALLY LOST WHILE 3% OF PAPER
    DOCUMENTS ARE MISFILED
      WHY? - EFFICIENCY
   TEMPLATES
   ROLL FORWARD CAPABILITIES
   INTEGRATION WITH TAX, ACCOUNTING AND
    OTHER APPLICATIONS
   INCREASED COLLABORATION POSSIBILITIES
   PORTABILITY
   ELIMINATE MANUAL (OOPS!) PROCESSES
    WHY? - CONSISTENCY
 STANDARDIZATION ACROSS
  ENGAGEMENT TYPES, OFFICES,
  PARTNERS AND STAFF
 FIRM TEMPLATES
 GREATER ASSURANCE OF MEETING
  STANDARDS
WHY? - COLLABORATION
 WORKPAPERS EXIST AT MULTIPLE
  SITES AT THE SAME TIME
 INDIVIDUALS IN DIFFERENT
  LOCATIONS SUCH AS HOME OFFICE,
  REMOTE OFFICE OR CLIENT LOCATION
  ALL SEE THE SAME WORKPAPERS AT
  THE SAME TIME
 EASE OF ADDING SOMEONE OUTSIDE
  THE ENGAGEMENT FOR ADDITIONAL
  EXPERTISE
WHY? – AUDIT STANDARDS
        SAS 95
 PROPER PLANNING OF ASSISTANTS
 SUFFICIENT COMPETENT EVIDENTIAL
  MATTER
 PROPER SUPERVISION THROUGH THE
  INTEGRATION OF ENGAGEMENT
  GUIDANCE
    WHY? - CONTROL
 CONTROL OVER STORAGE OF
  WORKPAPERS DURING THE
  ENGAGEMENT
 CONTROL OVER REVIEW PROCESS,
  INCLUDING DIAGNOSTICS
 CONTROL OVER ACCESS TO
  WORKPAPERS
           WHO?
 PRACTITIONER’S PUBLISHING
  COMPANY – ENGAGEMENT
  MANAGER ES
 CREATIVE SOLUTIONS INC.
 CASEWARE
 PROSYSTEMFX
           HOW?
 RESEARCH YOUR OPTIONS
 TAKE IT SLOWLY
 INTEGRATE COMPLETELY
 ACCEPT CHANGE
    ESSENTIALS OF AN
ENGAGEMENT MANAGEMENT
        SYSTEM
 FINAL PRODUCT – FINANCIAL
  STATEMENTS IN AN AUDIT
  ENVIRONMENT
 DOCUMENT MANAGEMENT AND
  COLLABORATION
 PROFESSIONAL ENGAGEMENT
  GUIDANCE AND CONTROL
ELEMENTS OF A PAPERLESS
      SOLUTION
   DOCUMENT MANAGEMENT
   DRILL DOWN CAPABLE
   ARCHIVAL
   TEAM MANAGEMENT
   TEMPLATES
   FIELD AND OFFICE CAPABLE
   INTEGRATION WITH OTHER SOFTWARE
   REVIEW TOOLS
     IMPLEMENTATION
     CONSIDERATIONS
 EASE OF USE
 PRESENT SYSTEMS AND USE OF
  EXISTING DOCUMENTS
 COST OF CONVERSION
 LEARNING CURVE
 SUPPORT
 TRAINING
        COMPARING THE PLAYERS
           PPC          CASEWARE     CREATIVE     PROSYSTEMFX
                                     SOLUTIONS,
                                     INC.
WORD AND                THROUGH      YES.         YES.
EXCEL                   CASEWARE
CAPABLE?                CONNECTOR.
COST?      CALL.        CALL.        CALL.        CALL.
           AFFORDABLE   AFFORDABLE   AFFORDABLE   AFFORDABLE.
FIELD    YES.           YES.         YES.         YES.
NETWORK?
CONTENT?   PPC                       PPC          MILLER AND
                                                  MCGLADREY &
                                                  PULLEN
                                                  OTHERS CAN BE
                                                  INTEGRATED.
CONTACT?   1-800-323-   1-800-267-   1-800-968-   1-800-739-9998
           8724         1317         8900
           ABOUT PPC
   PROVIDES CONTENT AND INTERNET BASED
    STORAGE OF DOCUMENTS
   PROVIDES “ADVISOR”. COM TO SET-UP
    CLIENT PORTALS WHERE TAX RETURNS AND
    DOCUMENTS CAN BE STORED FOD CLIENTS
    AND CLIENTS CAN AGGREGATE THEIR
    FINANCIAL ACCOUNTS
   WORKS BEST WITH CREATIVE SOLUTIONS
   IS NOT A TRIAL BALANCE PROGRAM
   DOCUMENT MANAGER
    ABOUT CASEWARE
 STRONG PROGRAM CREATED BY
  CANADIAN COMPANY
 NUMEROUS INTEGRATED PRODUCTS
 INTEGRATES WITH EXCEL AND WORD
  THROUGH A PROPRIETARY PROGRAM
  CALLED “CONNECTOR”
     ABOUT CREATIVE
     SOLUTIONS, INC.
 STRONG IN ELECTRONIC DOCUMENT
  STORAGE AND INTERNET USE
 “FILE CABINET” SOLUTION
 STRONG RELATIONSHIP WITH PPC
  AND EASIEST INTEGRATION WITH THE
  PPC CONTENT
    ABOUT PROSYSTEMFX
 FORMERLY CALLED EPACE
 EXCEL AND WORD BASED
 PROVIDES EITHER MILLER OR
  MCGLADREY-PULLEN CONTENT
 PPC CONTENT CAN BE USED BUT DOES
  NOT INTEGRATE AS WELL
         REALITIES

 TECHNOLOGY IS UNDERUTILIZED
 TECHNOLOGY PROVIDES BETTER
  CONTROL AND RESULTS
 TECHNOLOGICALLY PROFICIENT WILL
  WIN THE RACE