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Overview of Guided Assurance

Guided Assurance provides innovative tools to bring advanced functionality to your existing PPC's Practice Aids products.

Audit (Risk Assessment and Field Work)

Plan and execute the entire PPC audit process and provide even more efficiency to your audit workflow experience. Use this automated tool to:
  • Tailor your engagement to include the PPC Practice Aids you need.
  • Add other PPC Practice Aids to your audit engagement as needed.
  • Share data and decision information automatically between PPC Practice Aids.
  • Carry your planning materiality, tolerable misstatement, and risk assessments throughout your audit engagement.
  • Complete your audit work and sign off audit program steps.
  • Insert linked workpaper references.
  • Access diagnostics, rollforward, links to content on Checkpoint, multi-user capability, and master engagements.

Internal Control

Optimize the overall planning process. Use this comprehensive, fully-integrated internal control evaluation and analysis tool to:
  • Obtain and document your understanding of internal control.
  • Evaluate system design.
  • Prepare internal control test plans (required, if performing a public company audit of internal control).
  • Conclude on control effectiveness if performing a public company audit of internal control.
  • Assess control risk.

Disclosure

Optimize financial statement disclosure preparation and review. Use this automated tool to:
  • Prepare a customized checklist of applicable disclosure requirements.
  • Quickly identify new or changed disclosure requirements.
  • Create and save company-specific disclosures.
  • Create and store firm-approved disclosures to use in any engagement.
  • Research related authoritative literature on Checkpoint.

Compilation and Review

Increase efficiency using automated, industry-tailored checklists and forms for the engagement planning and performance of your compilation and review engagements. This tool offers:
  • Interim and annual compilation, compilation for management use only, and review engagements.
  • Specialized industries – commercial, construction, nonprofit, and more.
  • Rollforward and multi-user capabilities.
  • Diagnostics identifying errors or inconsistencies.
  • Links to content-specific guidance on Checkpoint.

Single Audit

Plan and execute the entire Single audit process. This automated tool:
  • Compiles data needed for Schedule of Expenditures of Federal Awards (SEFA) report.
  • Identifies major program and get step-by-step guidance.
  • Is embedded with the current Office of Management and Budget's (OMB) Uniform Guidance and Compliance Supplement requirements.
  • Tracks and stores awards and expenditures, including the last time a program was audited as major.

This article applies to:

  • Product: Guided Assurance