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Associating Assertions and Business Cycles to an FSA

From the Areas menu, ensure that Relevant Assertions and Business Cycle columns are visible.
Note: Audit defaults with four assertions: Completeness, Existence, Accuracy, and Valuation. The firm Author may change or include other assertions that are relevant to the engagement.
Assess the related assertions. If you need to change the assertions, right-click the FSA item and select Change Assertions. Select the applicable assertions for the FSA item.
To associate a business cycle to an FSA item, simply click the icon in the Business Cycle column and select the applicable cycle.

Notes

You can add new business cycles by:

Clicking icon from the toolbar.
Click Add.
Type the new description for the process and an appropriate abbreviation.
Click OK. Ensure that the abbreviation given is unique – you will get a warning to select an alternative abbreviation if a duplicate abbreviation is used.
(Optional) Click and select/deselect to attach a relevant control matrix or walk-through documents to the business cycle.

To delete a business cycle, select the cycle to be deleted and click Delete.

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