CaseWare Audit International - Plan the engagement
Deze functie is alleen beschikbaar bij gebruik van CaseWare Audit.
In the planning phase of your engagement, you:
- create your engagement file,
- determine the overall audit strategy,
- document the audit team discussions,
- and define materiality.
Start the engagement
The first step is to create an engagement file.
To create a CaseWare Audit International engagement:
From the Cloud menu (), select Audit International.
Select the entity that you will be auditing from the drop-down menu.
Klik op Nieuw.
Enter a Name for the engagement and any other optional information, then select Save.
The Engagement Properties dialog displays. To learn more, see Create an engagement file.
Edit as desired and select Save.
The Documents page displays.
Depending on the responses you provide in checklist documents, the following folders can be available in the Documents page:
- Risk Assessment
- Risk Response
- Plans and Procedures
- Permanent File
When you create a new engagement, the Documents page contains minimal content. More documents become available based on your responses to the various procedures.
For example, if you select Procedures as a response in the Timing of Engagement section in the A300 Overall audit strategy checklist, you get a link to the A400 Team planning discussions document. If you answer Procedures in the Susceptibility of the financial statements to material misstatements due to fraud or error section in the same document, you get a link to A405 Planned risk assessment procedures, A410 Worksheet - Fraud scenarios and B405 Identifying fraud risks.
Perform the acceptance and continuance
To perform acceptance and continuance, complete the:
- A100 Optimizer checklist - Initial Engagement Decisions checklist document.
- A200 Preliminary engagement activities checklist document.
You can customize checklists in a number of different ways. For example, if you need to add a procedure to a document.
To add a procedure to a document:
Select Edit () and then select More information () beside the desired procedure.
Select Add Procedure. A new procedure appears.
To learn more, see Add a procedure.
Met behulp van instellingen voor de zichtbaarheid kan de gebruiker het document zo instellen dat alleen de relevante onderdelen automatisch opkomen. You can see the conditions under which a procedure will appear by selecting its Visibility icon ().
To learn more, see Modify or add visibility conditions.
A100 Optimizer checklist - Initial Engagement Decisions
This document contains a set of questions designed to determine the scope and nature of your engagement.
The first question sets the level of collaboration (the query documents) that will be used in the engagement.
A higher level of online collaboration with your client generally improves efficiency in the engagement. However this may not work for all clients. Audit International allows you to select from three levels:
- High - queries are used to:
- Ask your client to answer detailed questions that flow into audit documentation, allowing you to quickly review and reuse.
- Ask your client to share documents with you. Each audit section has a separate query.
- Limited - queries are used to:
- Ask your client to share documents with you. All audit sections are bundled into one query.
- None - Queries are not used, you will have to request, receive and upload documents outside of Audit International.
A200 Preliminary engagement activities
Completing the A200 Preliminary engagement activities document confirms your firm’s readiness and suitability to perform the engagement work.
The main sections of this document prompt you to choose your preferred type of documentation. Select your preferred method of documentation (Narrative or Procedures) for each section. When you have completed your work, use the Hide button in the conclusion area to hide all the preferred documentation decisions.
Throughout the planning and risk assessment documentation, N/A will be available as a selection. Select this if the section is not applicable to the current engagement. The documents and procedures pertaining to that area are then hidden in the engagement.
In the Description of engagement section, select Narrative if you want to enter your own description in a text field.
Select Procedure to document your response using individual questions. Select this option if you require more guidance.
Determine the overall audit strategy
The purpose of the A300 Overall audit strategy checklist document is to decide, agree on and document the audit strategy items. This includes determining and documenting the scope of the audit, reporting requirements and deadlines, important dates, identified issues from previous engagements, names and titles of the audit members and the agreed fee.
Select your preferred method of documentation (Narrative or Procedures) for each section. When you have completed your work, use the Hide button in the conclusion area to hide all the preferred documentation decisions.
Throughout the planning and risk assessment documentation, the response option N/A is available. Select this option if a specific section is not applicable to your engagement. Documents and procedures pertaining to this section are then hidden in the engagement and do not display in the Documents page.
During the course of your engagement, you need to collaborate with clients to request and receive information and documents via Queries.
Queries (or query documents) in CaseWare Audit International have the letter "Q" appended to the document number.
Let op: The queries included in the Documents page in your engagement file depend on your response to the level of online collaboration question in the A100 Optimizer. If you have responded High, then the A345Q Overall client information request document is available. If you have responded Limited, then the C105Q document is available.
If you want to add guidance to an item, select Comment, enter the desired text and select Comment.
Here is a summary of the staff-client collaboration workflow using queries.
To send a query:
From the top-right of the page, select Send. Het venster Open vragenlijst verschijnt.
Enter a Query Due Date, select an Assignee, enter a message in the Email Body and select OK.
An email is automatically sent to the assignee, and the status of the document changes to Awaiting response.
The assigned contacts email includes a link to the query.
Contacts select the link to open the document and start responding to the requests. Once done, contacts select Responded to mark an item as responded.
Document the audit team discussions
The A400 Team planning discussions document ensures that the appropriate communication within the engagement team prior to the start of an engagement is established and documented. Use this document to record the attendees, agenda items and agreed-upon action items.
As with the other checklists, your responses determine next steps and linked documents. For example, if you select Procedures in the Potential for fraud section, you are prompted to go through the B500 Risk assessment report and the B700 Risk report.
Select your preferred method of documentation (Narrative or Procedures) for each section. When you have completed your work, use the Hide button in the Conclusion area to hide the desired documentation decisions.
Use the A500 Materiality document to define materiality for the audit. You can define Overall Materiality, Performance Materiality, the Trivial misstatement threshold and so on.
To complete the materiality document:
Select the A500 Materiality document from the Documents page.
In the Principal Users of the Financial Statements section, enter the principal users and any factors to consider. You can select + Add row to add more principal users to the document.
In the Overall materiality section, enter one or more factors to determine materiality. You can add two basis types:
- Financial materiality basis - select a group from the trial balance and enter a benchmark percentage.
- Other basis - enter a custom basis description and amount, and enter a benchmark percentage.
In the Performance Materiality section, enter a benchmark percentage to be applied to overall planning materiality.
In the Trivial misstatement section, enter a maximum amount for trivial misstatements.
In the Materiality for specific circumstances section, enter one or more materiality factors for specific circumstances.
In the Performance materiality for specific circumstances section, enter one or more materiality factors for specific circumstances.