The Audit Report (4-520) in Agile Audit has been designed to allow you to draft an auditor’s report in accordance with the relevant ASAs, efficiently. By answering questions in 4-500 ASA Requirements - Audit Opinion, the auditor’s report will be constructed based upon your responses.

Note: It is important to note that the generated Audit Report must be modified to suit your client’s particular situation. The generated Audit Report in Agile Audit will never be finalised by answering 4-500 alone and users are reminded to always modify the document accordingly as some circumstances may not be included based on the default document. 

What type of information is automated from 4-500?

Answering questions within 4-500 ASA Requirements - Audit Opinion will automate some of the following components of the Audit Report:

1. Opinion

2. Emphasis of Matter

3. Key Audit Matters

4. Other Matters

5. Other Information

Note: Users are reminded that despite the automation of the above components, users need to be aware that default content may need to be adjusted based on a client’s unique situations. The content is not limited to what to what has been generated in the Agile audit report. 

What type of information is “not” automated from 4-500?

There are other contributing factors that may automate content in the 4-520 Audit Report, such as:

1. OPT Optimiser
   

2. Entity Information (i.e. Company, ACNC, Incorporated Association)
   

   

3. Placeholders within the documentation, e.g. Select Date, Select Staff

Does the Audit Report information flow anywhere else?

Yes. The opinion selected in 4-500 ASA Requirements - Audit Opinion will flow through to the 4-520 Audit Report and the following workpapers:

1. 4-605 Management Letter

2. 4-606 Governance Letter