CPA.com and CaseWare
A Modern Approach to Preparation, Compilation and Review Engagements
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When working on preparation, compilation, and review (PCR) engagements, how much of your time is spent doing repetitive tasks, managing the details around planning the engagement, ensuring you're completing the right checklists or the right procedures within checklists, or tracking communications and following up on requests to clients?
OnPoint PCR combines AICPA methodology and guidance with CaseWare’s dynamic new cloud platform, to transform how commercial preparation, compilation, and review engagements are done.
With OnPoint PCR, each engagement begins with a set of basic questions, from which the tool will build out a streamlined set of checklists depending on your answers to those questions. Engagement letters and other standard reports are dynamically generated as you step through this process and import your client's trial balance. The system dynamically scales in complexity along with the information you enter, building out an approach that facilitates compliance with accounting and review standards as you add information, without adding unnecessary steps. This generates an optimized engagement for each client.
The system also allows you to customize the engagement to add procedures or special considerations based on your knowledge of the client and industry, or to incorporate your firm-specific procedures and methodology. This bottom-up approach to engagements that allows for customization, ensures you can reduce overwork while still providing the key insights your clients value most.
By leveraging the core competencies of CPA.com, the AICPA, and CaseWare, we've developed a targeted solution that can truly transform preparation, compilation, and review services. OnPoint PCR is custom-built for firms to enhance engagement quality and efficiency.
The latest AICPA technical guidance and interpretations relevant to these engagements is built into the tool to help support firms in performing high quality engagements.
CaseWare has over 30 years of experience developing premium engagement software for accounting professionals. With proven worldwide products, CaseWare delivers innovative solutions using cutting-edge technology and industry expertise.
CPA.com brings front-line focus on what firms need to be successful with their clients, with ongoing business support and a feedback loop to continually evolve the solution for what firms need.
OnPoint PCR's Guided Engagements help you complete engagements from planning to wrap-up in less time and with greater confidence. Guided Engagements have three key components: Intelligent Checklists, Interactive Methodology, and Disclosure Checklist Optimization.
Each engagement starts with a simple set of questions, and then builds checklists based on your responses, automatically scaling in size and complexity as needed. The system is also customizable—you can add procedures or special considerations based on your knowledge of the client and industry, or to incorporate your firm-specific procedures. By combining a bottom-up approach to checklists alongside the ability to add procedures based on your professional judgement, you can eliminate unnecessary steps in your engagements while retaining your distinctive insights that separates you from other firms.
AICPA guidance is built into OnPoint PCR, which when paired with Intelligent Checklists, can help reduce the time you spend planning out your engagement. As you complete any checklist, a link to the next step in the engagement is provided to support an efficient engagement workflow.
Disclosure Checklist Optimization reduces unnecessary steps firms are used to taking when going through the disclosure checklist. Right now, firms are used to completing all items in the disclosure checklist, marking procedures that don't apply to the engagement as "N/A". OnPoint PCR optimizes this process by asking a set of questions at the beginning of the disclosure checklist and incorporates information from the trial balance to present an optimal set of procedures.
Trial balances from popular accounting packages are auto-mapped, and Excel imports have recommended categories, enabling the simple and fast generation of trial balances for your engagements. If any account in your import falls outside one of the categories and / or causes it to be out of balance, OnPoint PCR flags the discrepancy and provides a simple drag and drop interface to reassign those accounts.
Our Automated Financial Statements reduce the amount of time you spend manually copying changes in one part of your engagements to other parts of the same engagement. All data fields in worksheets are linked, such that a change in one worksheet is automatically propagated throughout the entire engagement, dramatically reducing transcription errors.
A graphical display of your client's balances and financial statement information is built into appropriate lead sheets. Visual Analytics grant easy access to basic visuals that can lead to insights that aren't often apparent when looking at numbers only.
OnPoint PCR is a cloud-native application, which means that you can access your engagements and collaborate in real-time with your clients and colleagues, all from within the system. With data security on par with that used by online banks, you can rest assured knowing that best-in class data security measures are in place.
You can send, receive, and track all client and internal communications securely within the application, eliminating the need to use third-party software or email. Multiple users can access the same engagement concurrently, and when coupled with built-in chat, you can collaborate effortlessly to troubleshoot questions.
Rest assured knowing that your client data is stored on a strong, safe cloud-based platform. Hosted on state-of-the-art Amazon Web Servers, your data will be physically protected, backed up daily, and will live on a platform that is regularly monitored and tested against potential breaches. What's more, your information is 100% encrypted with the same level of security used by online banks.
If you have internet access, you can connect to OnPoint PCR anytime, anywhere. Like other online software tools, multiple people in your firm can access the same engagement at the same time, and your work progress is also saved in real time, eliminating the hassle of file check-ins and check-outs.
The business landscape is changing rapidly. Complexity defines the single greatest challenge — and opportunity — facing CPAs. Firms are rethinking their strategies for practice management, client services and talent development.
CPA.com is your primary source for taking the complexity out of moving your firm into the digital arena — enabling you to focus on growing your business with the smartest solutions in our industry.