Audit International 18.00 Content Updates
Audit international has the following content updates in addition to the What's New in Audit 18.00.
| Form Number | Description |
|---|---|
| General | |
| 400. | Optimiser checklists have been updated for new content throughout the template. |
| 400-1. | Optimiser checklists have been updated for new content throughout the template. |
| 400-2. | Optimiser checklists have been updated for new content throughout the template. |
| 400-3. | Optimiser checklists have been updated for new content throughout the template. |
| Audit | |
| ONEFORM | References updated for new content. |
| Planning | |
| 405. | Engagement acceptance and continuance forms have been merged into a single document which is tailored based on responses in the optimiser checklist. |
| 405C. | Engagement acceptance and continuance forms have been merged into a single document which is tailored based on responses in the optimiser checklist. |
| 408. | 7 procedures have been revised. |
| 410. | Removed. This form was merged with form 405. |
| 410C. | Removed. This form was merged with form 405C. |
| Overall Audit Strategy | |
| 426. | Content expanded with 3 new procedures added and 5 revised procedures. |
| 426C. | Content expanded with 3 new procedures added and 6 revised procedures. |
| 428. | One procedure was removed and 3 were slightly revised. |
| 430. | Expansion of document guidance to provide more instruction on the relevant ISAs, as well as revision of 7 procedures. |
| 430C. | Expansion of document guidance to provide more instruction on the relevant ISAs, as well as revision of 4 procedures. |
| 443. | Document is extensively rewritten to better tie into the standards and audit workflow. |
| 444. | Document is extensively rewritten to better tie into the standards and audit workflow. |
| Team Discussions | |
| 436. | Addition of 1 new procedure and revision of 9 procedures. Procedures were revised to reduce the number of sign-offs required within the form. |
| 436C. | Addition of 2 new procedures and revision of 2 procedures. |
| 437. | Table layout and column structure redesigned to be more user friendly and compact. |
| Materiality | |
| 420. | This form now allows preliminary and final sign-off for 3 levels of users by adjusting the document role set. Calculations have been added to the current and previous period columns for planning materiality based on mapping. These calculations are set to show absolute values and can be overriden by the user. |
| Risk Assessment Procedures | |
| 500. | Revisions made to 3 procedures. |
| 501. | Ratio analysis form formerly document number 2.05. The graphs used in this document have been redesigned. |
| 505. | Addition of 1 new procedure and revision of 9 procedures to reduce required number of sign-offs. |
| 505C. | Addition of 1 new procedure and revision of 9 procedures to reduce required number of sign-offs. |
| 506. | Addition of 3 new procedures and revision of 3 procedures. |
| 507. | Document is extensively re-written. |
| 513. | Document guidance was expanded. Wording and layout changes made to simplify the completion of the document. Reduced the number of columns to allow for widening of the remaining columns and removed some pre-population. Moved “Work Completed by (initials)” and “W/P ref” to the bottom of the form. |
| 515. | Slight revisions made to 4 procedures. |
| 525. | Revisions made to 2 procedures. |
| Understanding the Entity | |
| 511. | This is a new optional form to document the details of the entity’s IT environment including listing of hardware and accounting applications. The form can be filled out and updated by the client. |
| 511-1. | New optional document which can be used to track the entity's hardware and accounting applications. |
| Control Design | |
| 530. | The term "pervasive risk" has been replaced with "entity level risk" throughout this form and the entire template. |
| 531. | This is a new form added to gain an understanding of the general IT controls (design and implementaion) in order to evaluate their effectiveness. |
| Implementation of Controls/Walkthrough Procedures | |
| 565. | Addition of 1 new procedure and slight revision to 5 procedures. |
| General Audit Procedures | |
| 635. | Addition of 1 new procedure and revision of 7 procedures. 3 procedures have been removed from the document. Revisions were made to better tie the procedures into the ISAs. |
| 645. | Revisions made to 4 procedures |
| 650. | Addition of 2 new procedures and revisions to 3 procedures. |
| 665. | This is a duplicate of the ratio analysis form 501 which is used to document final analysis. |
| 666. | Revisions made to 6 procedures. |
| 670. | Addition of 1 new procedure and revision of 4 procedures. |
| Evaluate Audit Evidence | |
| DOC | Addition of 3 new procedures and revision of 6 procedures. |
| 301. | Addition of 1 new procedure and revision of 3 procedures. |
| 304. | New optimiser checklist added to tailor procedures in the new reporting checklist form 305. |
| 305. | New checklist added to cover the new ISA Audit Report standards taking effect for audits of year ends after December 15, 2016. |
| Reports to Those Charged with Governance | |
| 340. | Addition of 3 new procedures and revision of 6 procedures. 4 procedures have been removed from the document. |
| Engagement Wrap-Up | |
| 310. | Extensive changes in order to better document audit completion. Addition of 8 new procedures and revisions made to 8 procedures. |
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