Implement AICPA risk-based standards for more productive work.
If you want high-quality audits, preparations, compilations or reviews that comply with AICPA risk assessment standards, then it’s time to equip yourself with Knowledge-Based titles.
To help firms meet the demands of the latest standards, Wolters Kluwer developed an effective process that combines the latest advances in technology with a specialized methodology. The Knowledge-Based methodology was developed from the ground up to ensure the best possible approach to implementing the AICPA risk-based standards.
Each title based on the Knowledge-Based framework includes the latest requirements for audits, preparations, compilations and reviews for specific types of companies or organizations. Knowledge-Based titles assist you in performing your work by providing relevant and up-to-date expert guidance, risk assessment tools and comprehensive practice aids. Knowledge-Based titles are available for the following industries:
|Commercial Entities*||Common Interest Realty Associations*||Construction Contractors*||Dealership*|
|Employee Benefit Plans||Examinations of Service Organizations (SOC)||Financial Institutions||Governmental Entities|
|Healthcare Entities||HUD-Multifamily Housing||International Entities||Examinations and Agreed Upon Procedures|
|Not for Profit Entities*||Public Entities (PCAOB)||Real Estate Entities*||Single Audits|
*Indicates a separate title available for preparations, compilations & reviews.
Produce high-quality audits, preparations, compilations and reviews that comply with AICPA risk assessment standards with:
- Knowledge-Based documents that contain steps and procedures required by Generally Accepted Auditing Standards (GAAS).
- Program documents that guide you through related steps and procedures.
- Practice aids that help you complete steps or processes outlined in other documents.
- Correspondence document templates that include engagement letters and confirmation requests.
- Auditor’s Report documents and templates for a variety of sample auditor’s opinions on audited financial statements.
Titles for CCH® Accounting Research Manager® (ARM)
Knowledge-Based titles utilize Wolters Kluwer's Knowledge-Based methodology, which helps you perform more effective and efficient financial statement work. Each one is written for a specific industry to help you mitigate risk and achieve more effective GAAS compliance for that type of business. With the information in a Knowledge-Based title, you can ensure the accuracy of your work, improve efficiency and streamline your workflow. These titles are available as ARM Add-On Modules, provided as Microsoft® Word and Excel® documents, making them searchable along with all the other content available to you on ARM.
To view available titles, download the Titles Release Schedule.
Titles for CCH® ProSystem fx® Knowledge Coach and CCH Axcess™ Knowledge Coach
CCH® ProSystem fx® and CCH Axcess™ Knowledge Based titles utilize the same expert content as the ARM modules. All titles are written by practicing CPAs within a framework that provides an integrated set of procedures from pre-engagement through evaluating, concluding and reporting. The Knowledge-Based methodology framework helps you manage AICPA standards and ensures that important information is not overlooked or hidden in the details of numerous checklists and forms.
These titles provide the content that fuels the interactive processes used in both CCH® Prosystem fx® Knowledge Coach and CCH Axcess™ Knowledge Coach. The technology and content come together in a step-by-step process that facilitates the auditor's or accountant's thinking as he or she performs an audit, preparation, compilation or review. Each title is complemented by a full industry-specific Guide on CCH® Accounting Research Manager® that features interpretive material to help you get the most out of the workpapers every step of the way, and with a direct link from within the application.
AICPA Peer Reviews
As a provider of Quality Control Materials (QCM), Wolters Kluwer has voluntarily enrolled titles in the AICPA’s Peer Review Program, where appropriate, by undergoing a Quality Control Materials (QCM) review. Additionally, the Knowledge Coach product has also passed AICPA peer review.
Wolters Kluwer’s QCM reviews are administered by the National Peer Review Committee and are performed in accordance with the AICPA's standards for performing and reporting on peer reviews. These reviews are performed on a rolling basis, as the same quality control system is used for each title. Some titles are excluded from the AICPA’s Peer Review Program by the parameters of the program. For example, the Knowledge-Based Audits of Public Entities title is not within the scope of the AICPA Peer Review Program because audits of public entities are conducted in accordance with PCAOB auditing standards - and the PCAOB does not perform QCM reviews. However, the excluded titles are produced using the same quality control system as those that continue to pass QCM review.
Below are the most current QCM review reports for each title enrolled in the program.
Wolters Kluwer’s assertion is that the Knowledge Coach Audit of Commercial Entities materials is a reliable practice aid, as of June 30, 2019, examined under AICPA Attestation standards. We have received an unmodified opinion. Please click the report name, and complete the form, to access the report.