Auditing and assurance standards have been integrated into a logical flow following best auditing practice.
Planning including risk identification flows through to testing based on risks identified, then finally to a summary of the work done and results obtained. Finally appropriate reports are produced.
The user begins work in the A section, completing planning at the E section, then completing evidential testing according to the risks and other factors identified in planning while working through the F to V sections. Finally in the W to Z sections the work is completed with a summary of the work done and results obtained and production of appropriate reports as follows:
- Each job is driven from the Control Page - a summary of the whole audit with branches to subsections
- Includes ability to load the client trial balance, and create journal adjustments
- Emphasis is on risk identification at the planning stage and creation of audit plan around these identified risks
- Each risk identified must then be addressed in terms of level of risk and appropriate audit response which is then carried through to selected work papers
- Further risks identified during fieldwork require planning document to be updated
- Other key pages are Trial Balance, Materiality, Risk Assessment and Planning, Adjustments, Management Report and Audit Summary
- Evidence is added into the file by way of comments and attachments
- Questionnaires and checklists are shared with client to gather data and evidence
- Management letter points, errors, key issues, follow ups, deadlines etc. are identified during the process
- Includes full review process options, comprehensive references to auditing standards and financial reporting checklists
- At conclusion the job is rolled over which combines all pages and attached files into one PDF document for archiving
- Roll over sets up the job for next year, with content able to be brought forward and edited as required.