Historical Financial Audits

We have a variety of choices of templates for historical financial audits. Our audit templates incorporate best auditing practice, with cross references to the International Auditing Standards.

As they are designed for audit efficiency, and use for the smallest to large audit jobs, prompting the auditor to consider the requirements of the Standards. They presuppose a professional level of understanding and experience of the Standards.

New audit reporting standards were introduced in 2016 requiring an update of content in audit workbook templates – new audit reports were prepared for us by audit specialist Bill Heritage and these are included in the following:

  • Larger (IFRS) Audits - For historical financial audits of for-profit entities referencing ISA(NZ)s. Includes testing pages for group audits, for Tier 1 and 2 for-profit entities - includes :
    • Comprehensive references to auditing standards.
    • For general purpose reporting entities using full IFRS or RDR disclosures.
    • Checklists for financial reporting in terms of NZ IFRS (contains copyright material of the IFRS® Foundation in respect of which all rights are reserved).
    • Ability to create sub-jobs for subsidiaries, and/or for interim work is in development.
  • Charities audits -Charities represent a huge market for auditors. The challenge is to complete these jobs in a way that is size-appropriate to keep costs realistic. Audit Assistant meets this challenge by comprehensively addressing the auditing standards yet keeping the scale appropriate for the type of entity.
    • Comprehensive references to auditing standards
    • Checklists for financial reporting in terms of SPFR for Tier 3 and 4 jobs
    • Checklists for NZ PBE for Tier 1 and 2 jobs (contains copyright material of the IFRS® Foundation in respect of which all rights are reserved).
    • Also includes content for auditing statements of service performance where applicable. 
    • Ability to create sub-jobs for subsidiaries, and/or for interim work is in development.
  • Small Company Audits Many small companies require or opt voluntarily for audit. The reporting requirements for these is often a challenge as they are special purpose rather than general purpose. · Templates are for special purpose reporting entities with specific engagement letters, audit reports and checklists appropriate to these, whether they are adopting the CAANZ SPFR for FPE framework or their own special purpose option includes:
    • References to auditing standards.
    • Checklists for financial reporting in terms of SPFR for PBE framework (contains copyright material of the IFRS® Foundation in respect of which all rights are reserved).
    • Specific templates for LCEs (Less Complex Entities) in development.
  • Not-for-profit Audits - For historical financial audits of non-profit associations, clubs, Body Corporates, and others not required to file with charities services. These commonly require audits for funding purposes and bring a specific set of challenges as they are special purpose and therefore not required to comply with Charities Services reporting requirements. For financial statements prepared in terms of generic special purpose policies such as incorporated societies, charities incorporated under Charitable Trusts Act 1957 but not registered with charities commission, sports clubs etc.
    • Includes optional checklist for Special Purpose Framework for use by For-Profit Entities (SPFR for FPEs) published by CAANZ (contains copyright material of the IFRS® Foundation in respect of which all rights are reserved).
  • NZ Schools Audits for historical financial audits referencing ISA(NZ)s of NZ Schools in terms of the requirements of the Office of the Auditor General to be completed in accordance with best audit practice referencing IPSAS.
    • Based on the PBE template with extra school content inserted.
    • Includes a School-specific engagement letter and Audit Reports as per the OAG standard versions.
  • Body Corporate Audits for the audit of NZ Body Corp historical financial statements under generic special purpose policies or in accordance with the Special Purpose Framework for use by For-Profit Entities (SPFR for FPEs) published by CAANZ (contains copyright material of the IFRS® Foundation in respect of which all rights are reserved). 
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