How do we define a "workpaper"?
There are several definitions of what a workpaper, work paper, working paper, etc. is. Often workpapers are coupled with accountants and financial statements/records. While this may be the primary use of workpapers currently, we believe a workpaper encompasses more.
We define a workpaper as:
The creation, collection, and completion of information by a professional to evidence & support the conclusions reached in the conduct of a professional assignment.
Put simply, we want to provide a tool to allow professionals to evidence their work, whatever it may be.
At Cimplico our first core value is to "Challenge the norm". While this definition may challenge the traditional notion of a workpaper, we believe it more correctly defines the potential for this overlooked and undervalued practice. Our vision and direction for Cimplico Workpapers is to break the mould of lengthy checklists and cumbersome spreadsheets and to provide a tool to simplify and encourage the use of workpapers for professional services.
What do workpapers look like in Cimplico Workpapers?
As a starting point, the type of workpapers we accommodate are accounting compliance workpapers, where the base information to be verified is the trial balance, and some other schedules (such as tax reconciliations).
Cimplico Workpapers has several features built-in to ensure accuracy and governance around this evidencing process while providing features to boost efficiency and visibility