Wednesday, 16 December 2020

Wolters Kluwer Tax and Accounting Asia Pacific Customer Welcome Announcement

 

KAP Hananta Budianto & Rekan transforms the audit experience for its clients with CCH® ProSystem fx® Engagement


One of Indonesia’s leading public accounting firms, KAP Hananta Budianto & Rekan, has completed its implementation of the award-winning CCH® ProSystem fx® Engagement solution for its busy audit practice. The implementation will see the firm achieve a 100% digital workflow for its audit team, increasing the efficiency, security, and accuracy of its client work.

CCH® ProSystem fx® Engagement delivers a full toolset for workpaper management; trial balance; audit preparation and execution; content and research; data analysis; and fraud protection.

For KAP Hananta Budianto & Rekan, implementing CCH® ProSystem fx® Engagement was key to ensuring its workplace was more efficient and effective. The eight-person audit team wanted to improve its audit workflow and benchmark the quality standards for its audit workpapers and documentation. With CCH® ProSystem fx® Engagement, the audit file would be more secure, with reviewers having confidence that changes made to a file would be automatically reflected in the audit work papers.

“We chose CCH® ProSystem fx® Engagement based on the industry-leading reputation of Wolters Kluwer and positive recommendations from our industry colleagues. The team had heard a lot about it being a user-friendly interface. And, we see this as a strength because previously 60% of our files were paper-based. Now we have moved to 100% digital files and removed paper from our audit workflow entirely,” said Mr Revano Hananta, Partner, KAP Hananta Budianto & Rekan.

Implementing CCH® ProSystem fx® Engagement during the remote work requirements resulting from the COVID-19 pandemic has also paid off for the firm. The audit team now can work from anywhere with secure access to digital files, helping them deliver their audit tasks effectively and efficiently. This meets ongoing COVID-19 working requirements should the firm face any future lockdowns and gives the staff more flexibility to work from home or remotely when required.

CCH® ProSystem fx® Engagement has increased the firm’s efficiency and effectiveness, particularly in terms of workflow. The firm expects to generate further efficiencies across project tracking, reporting, review, sign off, and archiving as the audit team onboards and completes each client audit. Hananta acknowledges they are aiming to free up additional storage space for files and potentially re-deploy it for new staff.

“By freeing up the firm’s auditors with our new sophisticated audit service, we are forecasting accelerated completion rates. What this means is we can move our focus away from administration and instead focus on solving our client’s business challenges. Our firm has built an excellent reputation by offering our clients personalised services that go beyond traditional accounting practices – this includes audit. This is the type of support they want from us, and it creates a value-added revenue stream for the practice," continued Hananta.

 KAP Hananta Budianto & Rekan is confident that CCH® ProSystem fx® Engagement will continue to support the professional standards for the firm and help foster growth. Improving the firm’s audit workflow and developing better quality control over audit workpapers and documentation is vital for greater productivity.

 All KAP Hananta Budianto & Rekan clients will have their workpapers and financial statements incorporated into the CCH® ProSystem fx® Engagement system. Replacing paper means these electronic binders will automatically link to client engagement and trial balance data and connect scanned documents to the correct engagement binder. When an audit review is closed, it will be secured with safe custody for working papers.

Hananta shared "Due to the COVID-19 pandemic, the team were all trained on CCH® ProSystem fx® Engagement via web training and there were no issues at all. It was easy for the team to adapt to a 100% digital system because of the excellent customer service and support from the Wolters Kluwer team.”

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