The job review process for accountants generally involves the physical passing of files backwards and forwards between accountants and managers. Review points are often handwritten and placed on file, (or are typed into excel and printed for the file). Traditionally this process is slow, cumbersome and inefficient, with no checks and balances to ensure that all review points have been dealt with appropriately.
But with Fifo, the job review process is integrated into the workflow process. With instant on demand workpapers, integrated checks and balances to ensure that review points have been attended to and even better, Partner/manager review points (and accountants responses) are saved into the final electronic working paper file automatically, maintaining a full audit trail of exactly what has occurred on each job!
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