Stay Compliant with Disclosure Checklist in the cloud
12th Jun 2020
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All accountants, even the most committed would agree that producing and reviewing statutory accounts can be draining and laborious, especially when it comes to ensuring everything that needs to be disclosed is included.
It is a legal requirement for correct disclosures to be included, and in most situations, anything which could impact a business’ financial statements must be disclosed – which means they’re pretty important.
Beyond the legal requirements, disclosures are also used to identify financial strategies companies use and can reveal business critical information. All of which is essential information if a company is going to full understand its financial position.
A danger that can be faced when producing multiple sets of accounts, maybe with multiple tiers for review is recognizing and accounting for any changing circumstances year to year. Sometimes translating such events and correlating into a set of financial accounts can be difficult.
Cloud Disclosure Checklist
Falling foul of any laws or regulations is the last thing a company wants to do, or enter into the spotlight for not having disclosed everything it should.
With our Cloud Disclosure Checklist, you’re provided with quality assurance for financial reporting, ensuring everything is completed correctly in the most efficient way possible.
It can be used as a standalone system, as well as being integrated into our wider practice suite, providing users the options of either a full summary checklist and all you need to do is answer questions about your client and away you go.
Having a workflow built into the software enables an easy set-up of engagements and can be altered for multiple entity types and reporting standards.
Once key specifications have been confirmed, the intuitive checklist modifies the section checklists – tailoring questions accordingly and easy completion with one click answers along with sections to mark any exceptions.
To ensure compliance, all questions are linked to the relevant regulations so you can be confident the correct information is being supplied while supporting evidence can be added to a question and issue raised and easily classified.
For more information about CaseWare’s Cloud Checklist, click here