PPC s SMART Practice Aids - Field Work Integration with Engagement CS (Best Practices)

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1 PPC s SMART Practice Aids - Field Work Integration with Engagement CS (Best Practices) If you are not using PPC s SMART Practice Aids Field Work, refer to separate documentation for PPC s SMART Practice Aids Risk Assessment integration with Engagement CS. Integrating PPC s SMART Practice Aids Field Work When using SMART Practice Aids Field Work with Engagement CS, you continue to manage your engagement as you do now. Now, SMART Practice Aids is not just for the planning process. Field Work provides all the capability to do your field work as well by providing automation to complete PPC forms for the entire audit process, from beginning to end. You will continue storing your completed PPC forms in your engagement software using new Field Work functionality that will help you improve that integration. What is different in SMART Practice Aids Field Work from the prior process using SMART Practice Aids Risk Assessment? More PPC forms are automated in SMART, such as CX-2 Materiality and CX-8 Sampling Form, so that data and decision information are automatically carried between forms. Complete audit programs in SMART, sign-off on steps and create linked workpaper references to PPC forms stored in SMART. Make changes to risk assessment and audit program tailoring if necessary, and retain all prior step-sign off work. SMART Navigator and Dashboard provide status of steps not started, in progress, and completed. The next few pages in this document will identify some of the ways that SMART Practice Aids functionality is used in performing field work. For additional training on all of the functionality for using SMART Practice Aids Field Work, sign up for a training class at support.rg.thomsonreuters.com/training.

2 Select a SMART Practice Aids client engagement in Engagement CS Prior to launching SMART Practice Aids, open a client engagement in Engagement CS. Then click the SMART Practice Aids icon, or select Tasks, PPC, SMART Practice Aids. When SMART Practice Aids opens, you will be prompted to select an existing SMART Practice Aids engagement or to create a new one:

3 Working in PPC s SMART Practice Aids In SMART Practice Aids Field Work, the engagement opens to the SMART Navigator where you are guided through the entire PPC engagement process in the most efficient manner, from beginning to end. It also provides a convenient visual status of each step in your engagement. You can start on any line, or click View Audit Program.

4 In Completion view, use right click menu, Step Sign-off as you complete procedures. Select SMART Navigator from top menu bar to view updated status indicators every step of the way. Use Dashboard for statistics on the overall engagement or individual audit area for steps not started, in progress, or completed. (Use Dashboard instead of Unsigned Program Steps diagnostic report in Engagement CS.)

5 Use right click menu, Insert Workpaper Reference to create a link to any workpaper stored in SMART. Best practice for Engagement CS users, you will use this for PPC forms in SMART. Use Insert Memo Reference to refer to workpapers stored in Engagement CS, such as scanned documents from the client or Excel workpapers linked to trial balance numbers. (This will be reference, not a link.)

6 In SMART, even after audit programs are tailored based on your risk assessment, and you have already signed off on program steps, you can easily switch from Completion view to Design view and make additional changes to the audit program if necessary, while still retaining previous sign-off work.

7 Create SMART Docs Once you have completed PPC forms in SMART, you will then Create SMART Docs, which are the completed forms that will be stored in your client engagement in Engagement CS. Select Create SMART Docs from the Tools menu in SMART. Select one or more documents and click Create. The path that appears is already linked to the client engagement in Engagement CS so there is no need to browse or type in a path, click OK. A flag icon next to the document name indicates that the document has never been created or has changed since the last time it was created, making it easy to stay in sych with workpapers stored in Engagement CS. If documents have changed and you close the engagement without creating SMART Docs, you will receive a reminder.

8 Once the SMART Docs are stored within Engagement CS, you can use the functionality to sign off on the document as preparer and reviewer. As you are reviewing the PPC Forms that were completed in SMART, you may see that you need to make a change to one of the documents. Opening the document in Engagement CS opens in Word. You can see the information that was completed in SMART Practice Aids. If you need to make a change, that will be done in SMART as this document is your read only review copy. Notice that everything on the menu bar up above is grayed out. You want to make sure that you and your staff are always using the functionality that is available in SMART so that information is dynamically carried as needed.

9 When you need to make a change to this document, select the PPC menu in Word, and select Open workpaper in SMART Practice Aids. Answer the prompt yes to close the Word document.

10 The SMART Practice Aids application is launched and that document is immediately opened within SMART Practice Aids. You are now able to make changes to that document within SMART. On the audit programs, it is very easy to change from Completion view to Design views so that if you need to continue to modify steps, insert a custom procedure, or drag and drop procedures to the right hand pane. Switching immediately back to Completion view allows you to continue signing off on your audit program steps and retains all prior work.

11 Because that document changed in SMART, you will create the SMART Doc again to replace the version that is in the client engagement in Engagement CS. Select the Tools menu, select Create SMART Docs. A flag next to the document will indicate the document has changed since the last time it was created. And again, the path is already entered to the client engagement in Engagement CS, click OK.

12 Notice again that the document has been generated to the not yet filed folder. Select File, Process Unfiled Workpapers, and select Replace an existing workpaper. Select the previous version of the workpaper, click next, click finish. This ensures that you always have the latest SMART document contained in your Engagement CS client file.

13 Using Checkpoint Tools and PPC s SMART Practice Aids in Virtual Office CS What is Virtual Office CS? Virtual Office CS, included in the CS Professional Suite from Thomson Reuters, offers anytime, anywhere remote software access, relieving firms of the IT burden and ensuring business continuance. The Virtual Office CS environment provides the full line of CS Professional Suite tax and accounting software, Checkpoint Tools, PPC s SMART Practice Aids, and select Microsoft products. Getting Started using Checkpoint Tools and PPC s SMART Practice Aids in Virtual Office CS: With Virtual Office CS, users can access their licensed Checkpoint Tools and PPC s SMART Practice Aids products without having to download and install to a local workstation. Follow these important steps to get started: Each licensed user of Checkpoint Tools and PPC s SMART Practice Aids must have an active order for their licensed products assigned to their Checkpoint User ID in the Checkpoint User Administration System. For information on assigning users, check with your firm s Site Administrator, or refer to the instructions at To place a new order for Checkpoint Tools or PPC s SMART Practice Aids, contact your sales representative at In Virtual Office CS, launch Checkpoint Tools, either by clicking the icon on the VO Desktop or by inserting a PPC document into Engagement CS. In the Checkpoint Tools main application, select Tools/VO Options/Set/Update Login Information. On the Set/Update Account Information screen, enter your Checkpoint User Name and Checkpoint e- mail address for that User Name and click the Submit button. If the VO user does not see an icon for Checkpoint Tools, the NetStaff Administrator should assign the Staff permissions to the application Checkpoint Tools: 1. Click on the NetStaff tab. 2. Select Users on the left. 3. Next to the user login, click Permissions in the Actions column. 4. Mark "PPC Checkpoint Tools" in the Virtual Office section. To use PPC s SMART Practice Aids in Virtual Office CS, you must request to have this product added to Virtual Office CS. Please call CS Customer Service at (800) , option 1. Integrating Engagement CS and Checkpoint Tools in Virtual Office CS: In Engagement CS, select File/New/Document, select the PPC tab, select Document from Checkpoint Tools, and then click the Continue button. Users must be properly licensed and assigned to the Checkpoint Tools product they are selecting a document from. If they do not have permissions for the product, they will not be able to edit the document.

14 Integrating Engagement CS and PPC s SMART Practice Aids in Virtual Office CS: To integrate these applications directly, PPC s SMART Practice Aids must be launched from the icon within the Engagement CS client. Users must be properly licensed and assigned to each PPC s SMART Practice Aids modules they want to use. Follow these important steps to get started: The first time you select PPC s SMART Practice Aids in Virtual Office CS, you will be prompted to provide information that helps verify which products you are licensed to use (for example, SMART Practice Aids - Risk Assessment or SMART Practice Aids - Internal Control). In SMART Practice Aids, select Tools/VO Options/Set/Update Login Information. In the Set/Update Account Information screen, enter your Checkpoint User Name and Checkpoint e- mail address for that User Name and click the Submit button. In subsequent launches of the product from Virtual Office CS, if newly licensed products are not available, you can refresh your licensed products list by selecting VO Options from the SMART Practice Aids Tools menu, and then click Refresh Product List. When you access SMART Practice Aids from Virtual Office CS, most functionality works the same way it works for a local installation, but with a few minor differences. For example, the option to point to another database is not available since you will already be linked to a firm SMART Practice Aids database that is set up for you. Product Support: For assistance with Virtual Office CS or Engagement CS, please call For assistance with Checkpoint Tools or PPC s SMART Practice Aids, please call