Exporting and Processing CCH ProSystem fx Engagement Data for PCAOB Audits

Exporting and Processing CCH ProSystem fx Engagement Data for PCAOB Audits

Need to provide data from CCH ProSystem fx Engagement to the PCAOB?

Amid the slew of PCAOB (Public Company Accounting Oversight Board) audit investigations lately, we’ve encountered a recurring issue for clients trying to export data out of CCH ProSystem fx Engagement, a cloud-based accounting system by Wolters Kluwer. One of our specialties here at BIA is extracting data from proprietary sources. We’ve never met a data source we couldn’t befriend, and CCH ProSystem fx Engagement was no exception. Our experts created a solution that solves this data delivery problem, so we’re here to talk about it.

What is CCH?

CCH, formerly Commerce Clearing House, is a provider of software and information services for tax, accounting, and audit workers. A Wolters Kluwer subsidiary since 1995, CCH is a massive company with over 20k employees and a 2020 revenue of 4.6B €. CCH ProSystem fx Engagement is part of the CCH ProSystem fx Suite, a powerful workflow tool that has helped public accounting firms of all sizes undergo game-changing digital transformation. CCH ProSystem fx Engagement provides a central hub where teams can access files, monitor progress of an audit, and benefit from the efficiency of automating everything from workpapers to trial balances to reporting.

What is the problem when CCH ProSystem fx Engagement data is needed for a PCAOB audit?

The problem has to do with fulfilling the PCAOB’s data delivery standards. The PCAOB has very specific requirements for how companies must submit their data for audit. The data must be produced in a load-ready format that the PCAOB can then easily import into their Relativity document review platform. As is often the case with large, proprietary software platforms, CCH ProSystem fx Engagement’s standard data export format does not comply with PCAOB data delivery requirements.

CCH’s binder portfolio export is not PCAOB-compliant.

The CCH platform does have a data export function that creates a deliverable for a third-party client or auditor to view. This deliverable is called a binder portfolio and includes an index, PDFs of workpapers in the binder, and any related notes for those workpapers. However, this option is not ideal because, as stated above, that export does not meet PCAOB data delivery standards and thus requires additional work transforming the data to meet those standards.

For the information in binder portfolios to be not only viewable but also reviewable, those portfolio exports need to be transformed and processed into a load-ready format. Considering that typical PCAOB audits already are time-sensitive matters, and that the added requirements to make the requested information reviewable are outside technical knowledge of many, producing compliant data is difficult for many organizations who come under the scrutiny of the PCAOB.

The laptop delivery option is expensive and complicated.

Some companies have addressed this problem by providing their CCH data to the PCAOB via a special, dedicated laptop—one that is fully configured with the CCH ProSystem fx Engagement software and has the requested audit material pre-loaded onto it. While that might seem like a reasonable solution, from a cost or efficiency standpoint, this is far from an ideal solution. Not only is that option expensive, but it’s an extra hassle to configure, load, ship, track and eventually remediate the laptop(s) provided. Plus, if any additional parties (e.g., counsel, consultants, testifying experts) need to review the produced data, they all will need specialized laptops too.

Enter BIA’s custom solution.

Our experts and solution developers have created a custom export solution that transforms the CCH data and gives clients a compliant, load-ready deliverable that they can hand off to the PCAOB for review, as well as load to their own eDiscovery review platform of choice. BIA’s solution takes a CCH binder portfolio and parses it out into a data set that can be ingested, processed, analyzed, and reviewed with current eDiscovery processing engines and review tools.

If your company is involved in an audit or in litigation and being requested to produce data out of CCH ProSystem fx Engagement, BIA can help. We have years of experience managing the complexity tied to extracting data from proprietary systems. We invite you to reach out today.

Maureen Murchie, CEDS

Maureen Murchie, CEDS

Maureen Murchie has over 20 years of experience in Japanese document review, translation, interpreting, and consulting for major law firms and corporate clients. Having grown up in Japan and attended Japanese schools through high school, she first encountered foreign-language doc review as a college student in Texas where she worked an old-school “Bankers Box” review for Dallas firm Fee, Smith, Sharp & Vitullo. In addition to her responsibilities in the Sales & Marketing group at BIA, she has served as a recruiter, reviewer and team lead in the FLDR Division at BIA. Maureen holds degrees from Baylor University and the University of Illinois at Urbana-Champaign.