Thomson says the cloud-based Engage PCR, part of the Thomson Reuters Cloud Audit Suite, offers “a step-by-step process that includes embedded practical considerations: while automatically including the appropriate engagement and representation letters."
Engagement forms and procedures are automatically tailored, based on responses corresponding to each client’s unique circumstances with disclosure checklists automatically including only relevant requirements. Additionally, firms can create engagement templates specific to their firm’s protocol.
The system offers alerts and diagnostics, along with progress indicators, which can point to specific areas of concern. Moreover, each period’s workpapers roll forward onto forms that have been updated to reflect the next period’s engagement with new or changed questions and requirements flagged.