Product Information
Overview
As with all adversarial forums, being able to actively manage the process is very important in
gaining advantage in positioning. AuditTracker helps you take that advantage!
Features
Audit Intelligence
AuditTracker provides intrinsic support for a wide variety of issues that impact the outcome of an audit.
This includes support for Revenue Agent Report (RAR), Information Document Request
(IDR), Form 5701 (Notice
of Proposed Adjustment), and internal audit adjustments.
Although Tax Technologies, Inc. (TTI) developed
AuditTracker primarily to address the issues related to
tax audits, it can also
be used as a work process and document retention tool for financial audits, SEC investigations, and other
adversarial proceedings.
Status Tracking
TTI's clients asked for an easier way to manage the complexities of tax audits. They suffer through
voluminous document requests, document retention requirements, and the burden of quantifying the impact
of audit adjustments on the bottom line.
Built-in status tracking and project management features make it easy to stay on top of upcoming deadlines.
Automated e-mail notification notifies key participants of pending requests and keeps the process rolling.
Built-in risk assessment features help you measure and quantify the pending impact of audit adjustments.
Procedural advantages can only be achieved by automating the process and keeping track of the paper trail.
AuditTracker the most flexible and simple way to manage the process and gain procedural advantages in any
adversarial forum.
Flexible Searching
A flexible document search capability makes it easy to find all supporting documentation and workpapers — all
documentation and history is available within three clicks.
All supporting documentation can be stored with the originating document itself thereby eliminating the need
to search for the supporting documents. For example, any concessions that were made during the audit process can
become part of the audit issue history and prevent the same issue from being raised again. Also, a user may
search the database by audit issue and quickly put the same issue to rest using previous agreements on the same
of similar issues.
Document Retention
The burden of document retention and maintaining document history are automated and simplified by AuditTracker.
As tax audits are a common issue for Corporate America, companies can use AuditTracker s an electronic filing
cabinet to store original documents that will be needed in future audits. Tax Directors are keenly aware of
the difficulties of finding supporting documents due to the time lag between filing the tax returns and the
start of an audit — an audit may begin three or more years after a return is filed and the completion of
that audit may not occur for several years with complexities piling up along the way.
AuditTracker can preserve and retrieve the original tax returns and sup-porting documents. At the same
time, AuditTracker helps the tax department save significant time in responding to audit issues raised by
various audit jurisdictions.
Multi-Jurisdiction
Not only does AuditTracker support the federal, state, local, international, and the sales and use tax
audit function, it also supports cross jurisdictional audit risk management. Using AuditTracker, a tax
department can assess the impact of conceding an issue from one jurisdiction on other jurisdictions and
therefore quantify the impact on the overall tax liability of the company.
Easy Customization
Unlike other similarly marketed products, AuditTracker easy to set up and benefits can be reaped almost
immediately. While customization is offered, the base product is feature rich and includes many features,
including:
- Built-in e-mail notification — for all e-mail systems
- Compliance software integration
- Digital document retention
- Full support for a variety of document scanning systems
- Easy to use system and custom reports
- Integration with Microsoft Excel®, Adobe Acrobat® and others
- Extensible document and process support
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