openPR Logo
Press release

ProfitCents Assists CPAs in Complying with Looming Risk Assessment Standards

07-21-2008 09:46 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Sageworks, Inc.

/ PR Agency: Sageworks, Inc.
Sageworks Inc., the developer of ProfitCents Analytical Procedures, is assisting Certified Public Accountants (CPAs) to comply with a series of new Statements on Auditing Standards (SAS). CPA firms are reconsidering their approach to auditing financial statements as they assess the impact of what is commonly being referred to as the “new risk assessment standards”.

Under the new standards, the procedures and documentation requirements for compliance have become more stringent. Louis Stratton, CPA of Meador Stratton, LLP in Highland, IN is using ProfitCents Analytical Procedures to save time in his audit engagements. Stratton says, “It would take days to prepare what we are getting with ProfitCents in a matter of minutes.”

The new standards are intended to enhance the overall quality and effectiveness of audits. ProfitCents Analytical Procedures provides a solution for CPA firms by automating and standardizing analytical review performed during the audit to comply with the new requirements. “As new risk assessment standards become effective, we look forward to continue to develop new technologies that enable accountants to work seamlessly and efficiently” says Brian Hamilton, Chief Executive Officer of Sageworks, Inc.

ProfitCents Analytical Procedures is a software application that enhances traditional trial balance software used by auditors. Unique features include the capability to identify fraud risks, calculate statistical trends, develop expectations and perform private company industry comparisons. CPAs also use the ProfitCents Analytical Procedures to enhance their client communication and service by generating narrative financial management reports.

“With the new audit standards coming out, we find ProfitCents more and more useful in our planning stages,” says Jim Lovelace, CPA of Beach Fleischman & Company in Tucson, AZ.

To learn more, view an online video at http://www.profitcents.com/freevideo/ .

Sageworks, Inc.
5565 Centerview Drive, Suite 201
Raleigh, NC
27606
866-603-7029

Sageworks is a financial services and information company based in Raleigh, North Carolina. Recently named to the Inc. 500’s list of fastest growing privately held companies in the United States, Sageworks is the developer of FIND (Financial Information into Narrative Data), a patented artificial intelligence technology that converts financial numbers into plain-language. Sageworks has licensed its core technology to thousands of accounting firms, financial institutions, and information providers.

For more information on Sageworks, please visit their corporate website at http://www.sageworksinc.com and product website at http://www.profitcents.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release ProfitCents Assists CPAs in Complying with Looming Risk Assessment Standards here

News-ID: 48986 • Views: 1039

More Releases from Sageworks, Inc.

FindAGoodCPA.com has Partnered with Top Financial Analysis Software Company – …
Woburn, MA - FindAGoodCPA.com has recently partnered with Sageworks, Inc, the provider of ProfitCents®, a leading web-based financial reporting software tool for CPAs and other financial professionals. "We're pleased to partner with ProfitCents and have already begun recommending their financial reporting tools to visitors to our site, and to the CPA's and EA's listed on our directories," said Andrew Schwartz, CPA, founder of FindAGoodCPA.com, a site where taxpayers can locate and
Sally Glick Joins Sageworks’ CPA Advisory Board
Raleigh, NC: Sageworks Inc., the developer of ProfitCents, announced today that Sally Glick, Chief Marketing Officer at Sobel & Company, LLC., has been named to the company’s CPA Advisory Board. Members of the advisory board serve as external advisors to the management team and the company’s board of directors to help identify, launch and develop improvements to current products as well as provide strategic direction to new ventures. Before
Robin Rosenfeld Joins Sageworks’ CPA Advisory Board
Raleigh, NC: Sageworks Inc., the developer of ProfitCents, announced today that Robin Rosenfeld, a shareholder in the Certified Public Accounting firm Rosenfeld & Company PC, has been named to the company’s CPA Advisory Board. Members of the advisory board serve as external advisors to the management team and the company’s board of directors to help identify, launch and develop improvements to current products as well as provide strategic direction
Mark S. Allio Joins Sageworks’ Bank Advisory Board
Raleigh, NC: Sageworks Inc., the developer of Sageworks Analyst, announced today that Mark S. Allio, Vice-Chairman, President and CEO of Central Federal Corporation, has been named to the company’s Bank Advisory Board. Members of the advisory board serve as external advisors to the management team and the company’s board of directors to help identify, launch and develop improvements to current products as well as provide strategic direction to new

All 5 Releases


More Releases for Sageworks

Financial Forecasting Software Market Next Big Thing | Major Giants- Centage, Sa …
HTF MI presents an in-depth overview of the Global Financial Forecasting Software Market Study, detailing the latest product / industry coverage and market forecasts and status by 2025. Market research is categorized as a key area to accelerate marketization. The current market is evolving its presence and some of the major players in the study are Centage, Sageworks, Adaptive Insights, Palantir Solutions, PlanGuru, Axiom Software, NetSuite, Investopedia, Intacct, Cougar, Workday,
Financial Forecasting Software Global Market 2018: Key Players – Centage, Sage …
Financial Forecasting Software Industry Description Wiseguyreports.Com Adds “Financial Forecasting Software -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2023” To Its Research Database The report begins from overview of Industry Chain structure, and describes industry environment, then analyses market size and forecast of Financial Forecasting Software by product, region and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis
Financial Forecasting Software 2018 Global Market Key Players -Centage, Sagework …
Financial Forecasting Software Market 2018 Wiseguyreports.Com Adds “Financial Forecasting Software – Global Market Demand, Growth, Opportunities, Manufacturers, Analysis of Top Key Players and Forecast to 2025” To Its Research Database. Description:  This report studies the global Financial Forecasting Software market, analyzes and researches the Financial Forecasting Software development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like  Centage  Sageworks  Adaptive Insights  Palantir Solutions  PlanGuru  Axiom Software  NetSuite  Investopedia  Intacct  Cougar  Workday  Multiview  Aplos
Sally Glick Joins Sageworks’ CPA Advisory Board
Raleigh, NC: Sageworks Inc., the developer of ProfitCents, announced today that Sally Glick, Chief Marketing Officer at Sobel & Company, LLC., has been named to the company’s CPA Advisory Board. Members of the advisory board serve as external advisors to the management team and the company’s board of directors to help identify, launch and develop improvements to current products as well as provide strategic direction to new ventures. Before
Robin Rosenfeld Joins Sageworks’ CPA Advisory Board
Raleigh, NC: Sageworks Inc., the developer of ProfitCents, announced today that Robin Rosenfeld, a shareholder in the Certified Public Accounting firm Rosenfeld & Company PC, has been named to the company’s CPA Advisory Board. Members of the advisory board serve as external advisors to the management team and the company’s board of directors to help identify, launch and develop improvements to current products as well as provide strategic direction
Mark S. Allio Joins Sageworks’ Bank Advisory Board
Raleigh, NC: Sageworks Inc., the developer of Sageworks Analyst, announced today that Mark S. Allio, Vice-Chairman, President and CEO of Central Federal Corporation, has been named to the company’s Bank Advisory Board. Members of the advisory board serve as external advisors to the management team and the company’s board of directors to help identify, launch and develop improvements to current products as well as provide strategic direction to new