Meanwhile, ePace, CaseWare, and Intacct, which supply electronic workpapers, also say their products can make a dent in filing cabinets. Some companies are going to internet-based storage. Accountants can use internet-based storage to share documents, such as tax returns and financial statements, with each other and with people outside the firm, such as bankers, who need to see a client's tax return. Authorized users access the documents through URLs that take them to the password-protected sites. Firms can further limit access to information to ensure security.
Audit is another area where document management systems are catching on.
Several vendors are offering auditing and engagement software. It's an approach that might be termed paper avoidance, not paper elimination. With many small firms priced out of the audit business, or scared by the litigation risks, Intacct Audit is designed to give them access to Big Five knowledge and methodology, while reducing costs and risks. The University of Oklahoma explicitly disclaims any legal liability for the contents of this page or information accessible from this page. Web pages are provided as a privilege to OU students to enhance their life long learning experience, and the opinions expressed herein are not necessarily those of the institution or its student body.