It s all about business growth

Transcription

1 Audit 4

2 It s all about business growth AXP aims to inspire you to achieve sustainable business growth. We build solutions encompassing features that contribute to the growth of your business as well as your clients business. We understand the challenges faced by audit practitioners including high staff turnover, impending audit exemption, escalating training costs, high expectation of professional conduct, stiff competition from other auditors to mention just a few. AXP Audit 4 is built not only for the purpose of assisting you to overcome the above challenges, but also to enable you to grow your business to a higher level. Look no further, this is the audit solutions that you need.

3 Client Service Center Client Service Center (CSC) provides you with a one-stopcenter to win new businesses as well as to enhance and expand the range of services you provide to your existing clients. You can use CSC to showcase your team of professionals, services and clientele in a state-of-the-art design interface to new contacts and potential clients. This helps them to gain an understanding of your strengths and merits whilst at the same time be impressed by your professionalism. To further enhance your brand image, you may choose from a series of designer templates that best suits your business. CSC s modern interface helps to enhance your brand image. File Administration File Administration contains features that enable efficient file control such as:- Permission and Accessibility Control (PAC) - In short, this ensures control over user access to different parts of the system. Only with permission is a user able to access relevant functionalities or perform actions such as editing or deleting. This feature enhances data security. File Archive & Retrieval - features fast file archiving and retrieval from designated storage. PDF Converter - at the end of the engagement, you can wrap-up the entire audit file by converting it into PDF format for future retrieval and reference. This reduces storage space and promote a paperless work place, playing a role in maintaining a Green environment. More importantly, CSC allows you to make a high level analysis of your client s audited data by just a few clicks. You can communicate the auditors highlights and findings on the audited financial statements, financial ratios and trend analysis to your clients in an attractive and interactive interface. Additionally, CSC is also enhanced with other useful gadgets, for example financial scenarios simulator, optimal tax calculator and audit fee calculator. It allows you to insert assumptions and make forecasts of the effects on your clients tax obligations and other financial results within a split second. You may then print the useful financial highlights or even compile an impressive business proposal with just a few clicks! With the above, we believe that you will be able to generate more business by showing your ability to focus on clients needs and to provide value-added services. Accounts & Data Entry Clients trial balances can be imported into Audit 4 by performing a simple Copy and Paste action. Once the balances have been grouped together, all the data will be immediately transferred into appropriate working papers which establishes a clear and sequential audit trail to support the final audit opinion. Putting through adjustments is also a breeze with minimal effort.

4 Audit Working Papers Empowered by AXP s latest x-link Technology, our system is able to:- connect all important findings throughout the entire audit process so as to give you peace of mind that all risks and issues are properly dealt with; automatically generates appropriate audit programmes for specific accounts; and Cross-references all data. Reviewers are able to understand the flow of the information throughout the entire working papers. Our system is developed largely based on Clarified International Standards on Auditing which systematically covers all the major phases of performing an audit of the financial statements, i.e., planning, evidence gathering, evaluation of results and conclusion:- Planning: Preliminary Engagement Activities includes, but not limited to, assessing client acceptance and retention. Planning: Plan the audit includes, but not limited to, understand the clients business, setting overall strategy and materiality level. Planning: Risk assessment includes, but not limited to, assessing internal controls and detailed risk; determining the financial statements risk and assertion risk action plans from the risks identified; perform preliminary analytical review; and, perform sample size planning. Planning: Design responses from the risks identified, the system will automatically generate a risk response summary and customised audit programmes (standard and extended audit procedures). Gather Evidence: Implement responses the system helps to maximize your output by automatically generating lead schedules of all Statement of Financial Position and Statement of Comprehensive Income items; provide a ready platform for you to gather/review evidence and documentation; and a set of standard sub-lead schedules in MS Excel and other working papers, e.g. cash and inventory count sheets, sighting of documents and questionnaires are also available for use. To provide flexibility, you may even incorporate your firm s standard guidelines and worksheets into the system. During the audit, you can also produce all relevant confirmation letters and reminders. Audit 4 also provides flexibility for you to change the various standard letters as and when the need arises. Evaluation and Reporting Wrap-up your engagement with added assurance, the system will guide you through by: automatically generating the final analytical review; and, enable you to make significant decisions and express an audit opinion.

5 Annual Report Compiler At a mouse click, the system will generate a complete annual report which is compliant with prevailing financial reporting standards. Also, the annual report can be customised to your firm s unique format requirements. Added security and authentication features enable you to protect your precious work from being accessed or edited by unauthorised personnel. e-library The system also provides a virtual library which stores all standard notes to financial statements for drafting an annual report, management letters and other relevant reports. The e-library is enabled with formatting functions allowing you to pre-determine how the notes will be presented in the annual report. Therefore, you can compile the complete annual report in the shortest possible time and the first draft is as good as the final. Additionally, a report preparation tool is available in the e-library enabling you to utilise any notes contained in the library to compile any type of report required. e-cabinet e-cabinet is an intelligent electronic filing cabinet. It provides the best resources management for your entire practice. The e-cabinet works like your pigeon hole, ie. you can store all relevant resources including but not limited to letter and report templates, administration forms, frequently used websites, paths to server or any files. The software is built-in with a standard set of ready-to-use letter and report templates that are in compliance with prevailing financial reporting standards. They can be further customised to your firms practices. Support Learning and navigating in the system has never been so easy! For the first-timer, you are well-guided by a Quick Start tool to get the system up and running faster and smoother. There are also cue cards and wizards available in all interfaces so you can obtain help whenever you need. Users are also given access to the answers of frequently asked questions prepared by our Technical Support Unit. AXP will release a stream of free updates at regular intervals. You can opt to check the updates manually or to make a setting for Audit 4 to check the updates periodically.

6 Support We understand the importance of keeping your business operations running smoothly, therefore, you are given access to a dedicated, friendly local support team that will ensure your technical questions and issues are resolved quickly, accurately and professionally. Additionally, our technical support unit publishes bi-monthly e-newsletters, illustrative financial statements and other useful publications which are supplied on a complimentary basis to our clients to enable them to leverage on our technical knowledge. To further increase the operational efficiency of audit engagements, AXP also developed SERP (Service Enterprise Resource Planning). Together with Audit 4, they are able to create a synergy effect and achieve an efficient system of quality control effortlessly. SERP mainly provides effective job assignments, work progress monitoring, staff performance evaluation and fee collection control. Talk to our friendly marketing team if you wish to find out more about SERP. To arrange for a no-obligation demonstration on our AXP Audit 4 and SERP, kindly contact us today!

7 What our clients said about our products & services? The most important benefit we get from using this software is the updated audit programmes in compliance with the latest pronouncements on auditing standards. And of course, it goes without saying, our statutory audit engagements can be performed efficiently and cost-effective. (Staff force reduced by 25% despite an increase in audit engagements). Staff require minimal training and most of the processes in this audit software are logic based with a natural flow. Mr Anthony Ng (Partner of C.F. Ng & Co., CA Malaysia) Besides the time savings obtained from using the software, we are also happy to note that AXP provides regular complementary training on the use of their software. This is very helpful especially when we have new staff who are not familiar with the software. Ms Ainee Ali (Partner of Suhaimi Salleh & Associates, FCA Singapore) Audit Express always provides up-to-date information relating to the changes in Financial Reporting Standards to us. The team would highlight the important accounting issues to draw our attention so that we would not oversee the changes. Mr Chin Chee Seng (Partner of CCS & Co., CA Malaysia) Over the years we tried out a couple of audit software before being introduced to Audit Express. From our experience, Audit Express is one of the best audit software in the market at the moment. Mr M. Viruthasalam (Partner of Viru, Goona & Associates, CA Malaysia)

8 CONTACT US Southern Malaysia 83A, Jalan Emas Satu, Taman Sri Skudai, Johor Bahru, Johor. T: or National Freephone: F: Central Malaysia Block A, CBD Perdana 2, Jalan Perdana, Cyberjaya, Selangor. T: or National Freephone: F: Singapore Blk 5000, Ang Mo Kio Ave 5, #03-09, TechPlace II, S(569870). T: F: Hong Kong Level 8, Admiralty Centre Tower II, 18 Harcourt Road, Admiralty. T: F: w w w. m y A X P. c o m