Audit System
Audit Template 25 Re-Release
Late last week we became aware of an issue affecting a subset of engagement files when applying the update to Audit 25 that was released in October last year. Upon completion of the update on these files, users have reported that documents have been ...
Update bubble appearing after Audit 24 update has been run
When applying the audit update to your engagement files it is important to note the following points: For rolled forward engagement files, we suggest applying the update immediately before any work has commenced on the file that could result in ...
How to set up a Group Audit worksheets, NGROPMAT and NFSAGRP?
The group audit documents NGROPMAT (for additional materiality worksheets) and NFSAGRP (for additional FSA worksheets) were created to assist in the auditing of consolidated Caseware files with two or more subsidiaries. These documents are separate ...
Why have CWANZ updated their Assertions?
The table below details the post-October 2022 assertions that we implemented into Audit Products, to aligned with both IFAC and what is more commonly used internationally: Audit Product Assertions Classes of transactions Account balances C - ...
What can I do if my Hyperlinks are not loading the latest URL?
All the URLs in the Audit System template are controlled by the HYP workpaper. If any of your hyperlinks are out-of-date or are not producing the correct URL path, follow these steps: 1. Firstly, ensure you have downloaded the latest HYP document ...
How do I use the new Flat-form Risk tables?
The new Flat-form risk tables contain risks identified in the engagement file. They can be found in several different workpapers, and the functionality of the table depends on which workpaper you are in. For those using the Public Sector template, ...
How do I use the '3-210 Risk Assessment' workpaper?
The Risk Assessment Summary worksheet provides a consolidated summary of important information contained within the Risk Report (RRPT) and the Financial Statement Areas (FSA) worksheets. It can be used by the engagement partner, and other senior ...
How does 2-18X and 2-190 work and how are they related?
Two new worksheets being added to Audit System are the 2-18X and 2-190 worksheets. The 2-18X worksheet has been created to assist in the documentation of key business processes relating to the audit. This worksheet should be copied and pasted to ...
Tip Vid - NZ AS 1 - The Audit of Service Performance Information
This video demonstrates how the NZ AS 1 workpapers and where to find them in the Audit System template.
How can I read and understand 6-100 to confirm my engagement is compliant?
With the recent inclusion of the new ASA315 and 220 (or ISA (NZ) for NZ firms) , the importance of 6-100 to confirm whether or not your engagement is using the most recent (or compliant) documents, has increased. There are a few things you should ...
What is the recommended approach for updating my existing ‘Understanding the Entity (315 worksheets)?
Understanding the Entity and other 315 Worksheets The new Audit System template contains changes to the look and feel of several “Understanding the Entity” worksheets. In the Audit System Australia and New Zealand template these worksheets include: ...
What has changed in Sampling?
Due to changes to ASA 315 (ISA (NZ) 315 in New Zealand), we have updated our Sampling worksheets to align with these changes. The purpose of this article is to provide guidance to users of our Sampling Worksheet and explaining options for you to ...
Expectations with the October 2022 update
Introduction Prior to running the October 2022 update (Audit 24.00) it is important you are familiar with the “four” post-update steps that all engagement files are required to adopt after the update (if using update method option 1). The “four” ...
Audit System 2022 Update Inclusions
As this year’s Audit System update includes a few significant changes, we want to provide some helpful information on what is coming in the lead up to assist with planning for any upcoming internal training and 31 December audit engagements. NOTE: As ...
PSAS Process Map
PSAS flowcharts attached in this FAQ below illustrate the best step by step process to use our CaseWare PSAS Template for an audit engagement. The process map below reflects an example of a flowchart of actions best followed for a Public Sector Audit ...
What's New - Audit System
Audit System 25.00 - October 2023 The Audit System October 2023 (version 25.00) is a minor update. For information on specific workpapers review Audit System document and procedure updates. Any engagement file that has not yet been updated to Audit ...
What is the CWANZ Audit System Risk Library?
What is the Risk Library? The Risk library is a repository of all risks, controls and management letter points that originally was available on the CaseWare Risk Space website. Why do we need the Risk Library? The Risk library was always accessible ...
Public Sector: Considerations when using 8-111
The 8-111 ASA Progress report has been updated in line with content changes released in the latest Public Sector template. However, it is important to consider the following when using the 8-111: A bug has been identified in 8-111 whereby the ...
Public Sector: How to utilise current year budgets in Materiality and add Budget leadsheets to an engagement
This FAQ is only applicable to the Public Sector template. Current Year Budgets can be utilised as a basis via the settings in 2-405 Materiality. Note: If you DO NOT see the above settings in your Materiality document, then you are using a older ...
IRAM – Inherent Risk assessment worksheet.
The IRAM worksheet provides the functionality for auditors to analyze and document their understanding and considerations of inherent risk factors as part of the risk assessment process. This worksheet allows auditors to assess the overall inherent ...
Copy Components Update (FAQ849)
This guide will demonstrate how to address inconsistencies in your engagement file which may potentially cause issues when the Copy Components feature is used to insert new documents as part of your annual CaseWare engagement file update. If you ...
What assertions are used in CaseWare audit tools?
Within all CaseWare audit solutions, the 4 combined audit assertions are used: C - Completeness E - Existence A - Accuracy & Cut-off V - Valuation These map to the more detailed assertion level for classes of transactions and account balances as ...
New area for ROUA not showing in Risk dialog for FSA section
If you are experiencing the issue whereby the new area for Right-of-use assets is not available for selection in the risk dialog, please follow the below steps: 1. Open the FSA worksheet 2. From the 'Audit menus' select Option | Display hidden ...
Adding Custom Grouping to a CaseWare Audit File
To add custom Groupings to a CaseWare File you need to add it in the 'Groupings' section. To navigate to this go to Engagement > Groupings and add a new grouping as shown below. Once created, check the properties of the leadsheets you would like the ...
Public Sector Update Guide
What’s New for October 2023? The following items were updated in the Public Sector October 2023 release: New filter for: Z4.10 - Going Concern 4-700 - ASA Program 2-105 Understanding the entity system of controls updated to better align for 315 Split ...
Covid-19, Xtend & Audit System 21.00 Hotfix
This hotfix contains the Xtend ANZ placeholder which enables the Queries | Receive functionality in Working Papers 2019. Refer to the 'Xtend Integration with Working Papers' video for more details on our new integration features between the two ...
How to use programs / checklists in Audit System
This Tip Vid demonstrates the functionality of the Programs / Checklists / Worksheets in the Audit System template. Note: You will require a password to view this video. Please email support at support@caseware.com.au for the password.
Deleting & restoring documents in the Optimiser
Deleting documents using Optimiser Within the OPT Optimiser, users will need to provide results for a range of engagement setup questions. See below: When you have responded to these (review Optimiser Guidance doc for impact of your answers), you ...
Efficiently Mapping Audit Only Files
Audit System users who will not be using the Financials IFRS template, can use the mapping “audit” filter to simplify the list of mapping numbers required for audit, and to hide all the Financials IFRS specific mapping numbers. The remaining mapping ...
Tip Vid - CaseWare Q
This video demonstrates the using CaseWare Q across the Australia, OneForm and Micro Audit profiles. Note: You will require a password to view this video. Please contact support on 03 9660 4688 or support@caseware.com.au.
How do I convert an existing engagement file to 'Micro Audit' profile?
Since the introduction of the Micro Audit profile in the latest template, you may have the desire to switch some of your existing engagement files into the new Micro Audit layout. This should only be considered if you can see a real advantage in ...
How do I create a 'Micro Audit' engagement with Financials?
The Micro Audit Profile is the only audit profile that does not copy across the Financial Statements upon creating a new engagement file. The reason for this is due to the Simplified Mapping that is used in the Micro Audit Profile. The Simplified ...
Tip Vid - Micro Audit Profile
This video demonstrates the Micro Audit Profile and how to use it within the Audit System template. Note: You will require a password to view this video. Please contact support on 03 9660 4688 or support@caseware.com.au.
What is the difference between the Functionality and Content Update?
During your CaseWare file engagement update process, you would come across the need to update your Functionality and/or Content of your file. What is the difference between the Functionality and the Content Update? What is a Functionality Update? ...
How do I update my CaseWare Engagement file?
CaseWare ANZ offers yearly updates to: - Ensure there is no problem with the functionality of the file, and to - Keep up with the latest content (accounting standards and disclosures) for both Australia and New Zealand. Pre-requisites: Before ...
What does the ’Update from Template Notification’ screen tell me?
During your CaseWare Audit System Template update process, you would come across the following "Update from Template Notification" screen. Important Notes to Remember: - This dialog compares the Engagement File Document versions with ...
Audit Profile 3 - Micro Audit
How can I tell if I am using a “Profile 3” engagement file? There are a number of ways to confirm what type of “audit-profile” engagement file you have created: AO - General Options Template Toolbar and Existing Workpapers Comparison to the document ...
Audit System document and procedure updates
What Documents / Procedures have been added, removed or updated in October 2023? Attached is the Content (October 2023).pdf that will identify the following: New Documents added between builds 24.00.287 and 25.00.343. Deleted Documents removed ...
Can I map to Leadsheets if I am not doing Financial Statements?
A commonly asked question by clients who have imported a Trial Balance and are working solely on an audit is, "do I have to map to these levels of numbers?" Yes! Even if you are only running an audit engagement you still must map to all levels as ...
Is the Mapping different in a Micro Audit Profile?
Mapping within a Micro Audit profile is very similar to the standard means of mapping practised in larger audit profiles. Step 1: Import a Trial Balance. Go to the 'Engagement' tab of the home ribbon and click on 'Import' in the Data grouping. For ...
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