Taming the Paperwork: A Success Story

The Trusted Professional
The Newspaper of the NYSSCPA
May 1, 2005
Vol. 8, No.7
By Ronald D. Kranzler
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Three years ago my firm, Held, Kranzler, McCosker & Pulice LLP (HKMP), a 20-person CPA firm based in New York City, transitioned to a paperless, automated work environment, a concept that is gaining increased acceptance as accounting firms discover the efficiencies that can be gained through technology. By implementing a technology-based system for managing and processing audit paperwork, we increased productivity, streamlined engagement workflow, reduced the need for physical office space and outside storage, and enhanced client satisfaction. Here’s how we did it.

Acknowledging the Need
In 2001, we decided to take a hard look at our processes for preparing financial documents for clients. Two fundamental realizations prompted our examination: our workpapers lacked consistency, and we were amassing a tremendous amount of documents.

Our procedures for preparing financial statements and related supporting workpapers encompassed an amalgam of documents prepared by both our staff and our clients. Of greater concern was that any partner could produce a work product that substantially differed from other documents he or she had previously prepared, or that differed from the work products of other partners. Our goal, therefore, was to automate the audit process in a way that would ensure greater firm-wide consistency in the documents we issue. The desire to improve the overall consistency of our documents, thereby minimizing errors and increasing accuracy, drove our quest for finding the right solution.


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