Wolters Kluwer Enhances CCH Axcess Audit Solution

Wolters Kluwer Tax & Accounting unveiled on Sept. 16 a huge expansion of its CCH Axcess Audit solution, which integrates with other key CCH Axcess modules for faster, more precise engagements across firms of all sizes.

According to Wolters Kluwer, the new technological advancements reduce manual data entry, minimize errors, and sync data in real time, adding a layer of agility and cohesion to every project.

“With CCH Axcess Audit, we are igniting a transformation in how professionals approach auditing,” Cathy Rowe, senior vice president and segment leader, U.S. professional market, for Wolters Kluwer Tax & Accounting, said in a statement. “Our platform empowers firms to embrace agility and innovation, allowing them to focus on delivering exceptional value to their clients while maintaining the highest standards of accuracy and compliance.”

The expanded CCH Axcess Audit integrates customers’ audit applications with tax preparation, time and billing, practice management, workflow optimization, and client collaboration tools. Thanks to a shared platform, all CCH Axcess modules connect automatically, offering richer data insights and smoother processes across customers’ firms, Wolters Kluwer said in a media release.

Key highlights of CCH Axcess Audit include:

• Power of the platform: Wolters Kluwer’s comprehensive suite of tools integrates effortlessly to enhance efficiency and accuracy, providing end-to-end digital workflows across tax, audit, and firm management.
• Robust functionality: The latest release introduces several key features that firms have requested, including trial balances that support multitier consolidations and in-depth reporting, along with standardized data ingestion and automated ratio analysis. CCH Axcess Audit now supports firms of all sizes and encompasses a migration to CCH Axcess Engagement.
• Innovation with machine learning and cognitive intelligence: Integrations with TeamMate Analytics and TeamMate Document Linker offer a data-driven approach to scanning documents and linking evidence.
• Modern native cloud: Users can indulge in multiuser, real-time, anywhere access with limited offline document editing capabilities.
• Integrated methodology: With its risk-based approach, CCH Axcess Knowledge Coach supports audits of all sizes and uniquely offers a full range of industry titles. CCH Axcess Knowledge Coach enhances the checklist-based approach and are fully integrated with CCH Axcess Engagement, allowing for dynamic updates throughout the entire audit process.
• Integrated research: The platform also includes CCH AnswerConnect, an all-encompassing research platform for tax, accounting, and audit. CCH AnswerConnect now leverages generative AI to generate responses within its natural language Q&A function, enriching the search experience and enabling accounting professionals to create more value for their clients.
• New marketplace vendors: Wolters Kluwer Tax & Accounting is offering more data extraction options and innovative workflows for employee benefit plan audits. The platform’s data-driven approach is backed by impressive new additions to the marketplace, including AuditMiner and Finagraph.

The software is tailored to standardize, optimize, and automate processes, creating a powerful engagement management and risk-based methodology that streamlines procedures from secure confirmations to final reporting, Wolters Kluwer said.

More information about CCH Axcess Audit can be found here.