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In Pak Lau Professional Corporation, many files and papers are stored in boxes all over the office. Workers spend a lot of time navigating through files and papers, and filing new documents and working papers that are produced during engagements. Consequently, costs increase as a result of spending more time to organize files and papers, and office space reduces since it is allocated to data storage. As technology advances, paperless engagements can be implemented by accounting firms. Defined in the article "What is the 'Paperless Engagement'?", a paperless engagement means that the amount of physical handling and storage of documents is minimal. The cost savings, the improvement on workers' efficiency, and the increase in office space are benefits of using a paperless engagement. However, the limitations of a paperless engagement include the insecurity of client's data, and the complications involve in using computers as opposed to tangible paper. This report analyzes the advantages and disadvantages of using a paperless engagement, and gives a brief overview of CaseWare Working Papers, a solution to overcome the existing disadvantages.
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