Create New File and Import Data (update method 2)

Create New File and Import Data (update method 2)

The conventional method of updating an engagement file to the new version of the template follows the Staff Update Guide (“update method 1”).


However, there is another method available when the standard year-end close and roll forward is not an option or proves too cumbersome for some engagement files. 


The Create New File and Import Data (“update method 2”) process allows you to quickly:
1. Create a brand new engagement file utilising all the latest workpapers
2. Import your data which includes the source file’s:
  1. Trial balance and assign mapping numbers
  2. Consolidation structure (if required)

  3. Identified Risks, Controls and Reportable Items

  3. Perform a Year-end close to Roll forward the trial balance into the new year.

See table below to compare this method with the conventional “update method 1.”

Year-end Close (option 1)

Create New File and Import Data (option 2)


  • Original Document Manager is retained. Any custom amendments will carry forward to next year

  • Programs / Checklists and any other workpaper will carry forward custom procedures.

  • Financial Statements are maintained and updated.

  • Fast! Much quicker to get going.

  • Brand new document manager with existing mapped trial balance, consolidation tree (if applicable), risks, controls, reportable items and All content is up-to-date & compliant.

  • Avoid the need to select the Template Update Bubble.

  • Prompts user to perform year-end close during the process

  • Could potentially fix legacy issues


  • Functionality update can take up to 15 minutes

  • Content update can take another 10 minutes

  • This method can be complex as you need to follow the steps outlined in the Staff Update Guide and follow the steps in this guide below.

  • Customisations to Programs / Checklists, including user-specific procedures will be lost.

  • Document Manager customisations will be lost.

  • All External Documentation will need to be recopied if required from last year’s file.

  • If combined file, financials will need to be recopied, tested and utilise ADMIN02 with help from our support desk. 

Step One: Creating new file

 Within Working Papers: 

  1. File > New

  2. Enter New File Name

  3. Select Audit System 

  4. Choose Create and import data.

Step Two: Selecting the source file

In the dialog box that opens: choose to get client data from an existing file. Click Next.


Then browse for the existing file path. Click Next.

Hit Finish to complete the new file wizard.

Step Three: Performing a Year-End Close

After the files have been copied across, and the loading box has finished, you will be given an option to roll forward as shown below. 

This step may take several minutes and may not be showing any dialog in the process. 

Do not do anything else on your PC while your waiting as it may disrupt the process

Step Four: Selecting the appropriate Engagement Profile

Select the appropriate Engagement Profile and press OK.

Step Five: Copying in Financial Statements (optional)

Does your source file also contain financial statements?

If No, press No and jump to Step six.

If Yes, press Yes and follow the instructions below:

1. Press FSIFRS on the Template Toolbar to open FSIFRS document.

2. In the Entity Information ribbon ensure you adjust the following settings to match the source file’s financials statements. 
This is an important step to ensure nothing is lost from your FSIFRS when transferring it from the source file.
  1. Presentation: Single entity or Consolidated

  2. Entity type: Select entity type e.g. Large Pty Ltd (general purpose)

  3. Areas required: Check the boxes consistent to source file

As soon as you press OK on the “Areas required” the financials will start to generate. You do not need the financials generated for this step to work.

3. Press Cancel on the “Generating financial statements” dialog.

  4. Save and Close both the Source and the New File “FSIFRS” documents
Make sure you are saving your changes. CTRL S is a sure way of doing this quickly
  5. From the ‘Working Papers’ ribbon, select File | Copy Components.
6. Select Copy Into This File.
  7. Select File tab and browse for Source File. Press Next.
8.In the Copy Components screen, choose:
    1. Select Documents checkbox.

    2. Press Deselect All button.

    3. Select the Financial Reports folder which includes FSIFRS and other supporting documents.

    4. Also select CV External Data checkbox.

    5. Press Next.

  9. Press Next for the “Clearing Components”.
10. Press Finish to bring in the Financial Statements.

Step Six: Export any previous audit CV document to RTF

Any CaseView documents previously documented in the source file (e.g. Understanding the entity worksheets) should not be copied into the new file as CaseView documents.

Export these to RTF and add them in as external documents for reference. Please refer here for more information.

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