Wolters Kluwer Tax & Accounting launches CCH iFirm Workpapers in Australia to enhance accountancy productivity

Wolters Kluwer Tax & Accounting (TAA) Asia Pacific has announced the availability of its CCH iFirm Workpapers (Workpapers) product in Australia. This product, which has gained substantial traction in New Zealand, is now set to streamline accountancy practices in Australia by offering a comprehensive suite of 51 standard workpapers designed to assist accountants in the intricate tasks of supporting financial statements and tax returns for clients.

The CCH iFirm Workpapers solution ensures adherence to the latest Australian tax and accounting regulations, enabling accountants to expedite their work, minimize risks of write-offs, and boost profitability. This launch follows a well-established pattern of innovation within Wolters Kluwer, as noted by Megan Mulia, Managing Director of Wolters Kluwer TAA APAC. Mulia emphasizes the dual benefits of expert knowledge through CCH iKnowConnect and efficient operational software provided by CCH iFirm, which together offer a unique advantage to their customers.

The software was developed with annual inputs from the team behind the trusted CCH Australian Master Tax Guide. It features a range of innovative tools that simplify workpaper management and compliance processes, including standardization, built-in calculators, general ledger software integrations, and automation features. These enhancements not only reduce manual data entry but also improve accuracy, freeing up valuable billable hours for firms.

The CCH iFirm Workpapers are designed with input from Wolters Kluwer customers, aiming to deliver essential functionalities needed by accounting teams to handle high-volume, complex compliance tasks efficiently. Its ledger-agnostic nature is particularly beneficial, allowing seamless management of clients across various ledger systems, optimizing the compliance workflow.

Mulia further adds that the new module acts as a crucial component in the compliance workflow for accountants and that the continued integration of CCH iFirm with their expert research solutions will significantly enhance the workflow efficiency for their clients. Wolters Kluwer TAA is committed to helping tax and accounting professionals and businesses of all sizes enhance productivity, navigate changes, and achieve superior outcomes.

The introduction of CCH iFirm Workpapers in Australia by Wolters Kluwer TAA APAC is a strategic move that not only capitalizes on the growing demand for efficient tax and accounting solutions but also demonstrates a clear understanding of the local regulatory landscape and client needs. This initiative is likely to set a new benchmark in the industry for productivity and compliance facilitation.