Thomson Reuters — Engagement CS

800-968-8900

cs.ThomsonReuters.com

Engagement CS is the audit engagement component of the CS Professional Suite from Thomson Reuters, providing a workflow and process management solution that includes comprehensive trial balance capabilities along with multi-professional collaboration tools, advanced document archiving, integrated research and confirmation services, and additional practice tools.

Basic System Functions

Engagement CS is available as either a locally installed or remotely hosted application, both of which share the standard interface for the CS Suite, providing intuitive navigation and multi-paned access to key system programs and features. The system uses the same database across all programs, which further ensures that client data is accurate across all modules and eases data flow between the different programs. Core to the Engagement CS system is that it provides full trial balance capabilities, including the ability to customize balance definitions and the sequence of columns when laying out the accounts. Users can also automatically post adjusting journal entries to the trial balance in real time and see the immediate effects of adjustments or changes to the basis of financial statements via a split-screen view. Budget journal entries can also be easily created as necessary based on GASB requirements.

Additional customization options are available for setting workpaper references and tickmarks. Accounts can be assigned to up to five grouping codes and subcodes for reporting, leadsheet and workpaper preparation. Templates and wizards are available for initiating engagements and tracking engagement processes. 4.75

Engagement Management

Managerial oversight of engagements is aided by advanced notifications and review functions that help to standardize procedures, along with tracking and reporting options that include signoff administration, note tracking, tick marks, interactive review notes and diagnostics, while management tools offer additional monitoring. The Wrap-Up wizard goes a step further, aiding in finalizing engagements and wrapping up year-end processes, including clearing and deleting review notes, reviewing potential journal entries, and finalizing engagement documents and workpapers.

Documents can be archived individually or bound into organized PDF binders that retain folder structures of working documents. The system also integrates with FileCabinet CS and GoFileRoom CS for document management. Both static and dynamic reporting options are available, allowing users to quickly see live data and drill down to underlying intelligence. Firms can also e-mail financial statements, returns and other documents to clients and third parties. Additional reporting options include a tax code report and built-in tools for editing and customizing financial statements, client letters, and other documents and schedules. 5

Workflow & Collaboration

Engagement CS is designed for multi-staff engagements, providing advanced collaboration tools that include check-out and file overwrite protection, as well as options for using field networks. Users can work on engagements simultaneously. This includes the ability for staff in the office and in the field to access the same files, with senior staff overseeing all activity. Engagement CS’s integration with Colligo Networks and Capital Confirmation further aid in collaboration capabilities. The system also provides customizable checklists that let firms standardize processes based on practice standards or clients needs. Document management and storage functions allow for the attachment of virtually any file type along with engagement folders. 5

Integration/Import/Export