What's New in Agile Audit?
November 2021
We are pleased to announce the release of CaseWare Agile Audit's November 2021 template update.
This update is key. It is important to ensure you read all the instructions and follow the processes described. Please contact our Customer Service team (+61 3 9660 4688 or support@caseware.com.au) if you need any assistance at all with the information provided in this email.
This major update includes:
Enhancements:
New Independence workpapers to assist you in determining whether you or your team have any conflicts as per Corporations Act 2001 (if required) and APES 110.
- New Sampling workpaper to assist you in generating sample sizes for substantive audit procedures. The worksheet can be added as frequently as required.
- New Data Completeness workpaper to assist you in determining whether the trial balance and general ledger are not missing any data that could lead to inconsistencies and errors that impact accuracy and reliability.
Features:
- New Specific Analysis Ratios within the Analysis areas of the Risk Response Programs. In April 2021, we introduced the 2-270 Analytical Review document. These ratios have also migrated to the relevant Risk Response Programs’ Analysis section.
This major update includes:
Enhancements:
Resolved issue whereby risks from previous engagement were not carrying forward into the subsequent year engagement
Directed the 'help' link within engagements to Agile Audit specific knowledge base - making it easier for you to access relevant help articles
- Changed default paper size on a global basis to A4
New features:
Improved analysis graphs in risk response programs - displays line items in CY and PY tables. Colour coding has been applied to improve readability.
Welcome card for Agile Audit - can now quickly navigate to important pages such as the ‘What’s New’ FAQ and webinars.
NEW document screen - easier to navigate with detailed view enabled as default, as well as sign-off progress widgets for each phase. See How do I use the new Document Page in Agile/ SMSF? for more information.
NEW 'modified since last review' flag - helps to identify from the document screen if any modifications have been made after the reviewer last signed off. See What causes the ‘Modified since last review’ warning to appear for more information.
NEW document roles/ schemes functionality - allows firm authors and end users to customise and add in additional sign-off roles and schemes (a group of roles). See Adding and customising Roles/Schemes for more information.
NEW 2-270 Analytical Review document containing ratios
Content:
NEW updated mapping structure - more detailed and comprehensive mapping structure, that is universal across all CaseWare Australia & New Zealand cloud apps
Content corrections i.e. fixed grammar and spelling
Reviewed and fixed procedure sign-off inconsistencies
COVID-19 checklist update
NEW R - Employee Benefits section and program
Addition of Disclaimer & Copyright in permanent information folder
This update is key. It is important to ensure you read all the instructions and follow the processes described. Please contact our Customer Service team (+61 3 9660 4688 or support@caseware.com.au) if you require any assistance at all with the information provided in this email.
This major update includes:
Enhancements:
Product default year has been updated from 2020 to 2021
RFI visibility settings have been amended to consider new mapping i.e. sections within the RFI now show/hide based on account allocation to new mapping numbers
‘Emphasis of matters’ paragraph in 4-520 Audit Report is now optimised by corresponding procedure in 4-500 .
Content:
The RFI document has been replicated and added as a query template - meaning if the original RFI is cancelled by accident, you can add a new copy back in easily. Simply click +Query and it will be available in a back library.
NEW 4-450 Income Statement and 4-455 Balance Sheet workpapers. Please review How to use the Agile Audit Balance Sheet and Income Statement? for more information. The password to view the video is AuDiT2017.
NEW additional auditor’s responsibility paragraph in 4-520 Audit Report that is optimised by new procedure in 4-500.
August 2021
Multiple signoff of roles
Enabled the Multiple Signoff option on all default roles - allowing for sign off of the same role by multiple users. For more information and instructions on how to enable the Multiple Signoff option on custom roles, please refer to What's new in SE 2021-06?
Display of Other Financial Assets
Previously, when mapping accounts to 1.310 and 2.310 mapping numbers, the balances were correctly included in the Current and Non-Current analysis graphs, but did not display in the Financial Assets account listing. This issue has now been resolved, and accounts mapped to aforementioned mapping numbers will now display in the Financial Assets account listing.
Important note: The accounts mapped to numbers 1.310 and 2.310 will automatically display in the Financial Assets account listing across ALL engagements, including all existing engagement files.
Removal of Employee Benefits from Other Liabilities
Previously, accounts mapped to 3.700 and 4.700 mapping numbers displayed in both the Employee Benefits and Other Liabilities analysis graphs and account listings. This issue has now been resolved, and accounts mapped to aforementioned mapping numbers will now ONLY display in the Employee Benefits analysis graphs/ account listing.
Important note: The accounts mapped to numbers 3.700 and 4.700 will automatically be removed from the Other Liabilities analysis graphs and account listings across ALL engagements, including all existing engagement files.
Fixed Preparer and Reviewer fields in ‘Staff Assignment’ view
Previously, Preparer and Reviewer details did not populate in the Staff Assignments View of Agile Audit. This issue has now been resolved.
Previously, text displayed Manage Template Year 2020. Text has now been updated to Manage Template to avoid confusion, as Firm Templates are NOT managed yearly.
Other minor enhancements
Removal of the non-optimal flag against the ‘Use of Experts’ procedure in 1-120. This has been actioned in accordance with our content expert’s recommendation.
Resolved spelling error in the Request For Information query document and Request For Information query template.
ACTION REQUIRED:
Firm Settings:
To apply the new updates to your firm template, follow these steps:
Browse to the firm template screen and click the Update button
Click the Publish Template button.
This will merge the new content into your current firm template.
Note: If you have a current firm template in Draft Mode, select the Publish Template button to publish your current draft, then the Update button to begin a new draft with the updates merged into the existing firm template.
If you have any questions about this update please contact the CaseWare Customer Service team for assistance on (03) 9660 4688 or via support@caseware.com.au.
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