PEG Transition Notes and FAQs
CaseWare supports two PEG templates, Audit and Review and Compilation. You must create new engagement files using these templates.
Transition Notes
Working Papers Import
You can bring client data from your existing Working Papers client file into the new engagement.
Note: You must perform a year-end close on the Working Papers file prior to importing client data.
To import client data from a Working Papers client file:
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Create a new file. Select the PEG template, then Create and import data.
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Select Existing File under Get Client Data From:.
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Select the prior year's engagement. This will bring into your new file:
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Trial balance data
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Accounts
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Journal entries
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Entities
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Specific form text (see table under Audit Import)
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The client data is imported into the engagement.
You can bring additional documents into the file using the Copy Components Wizard. If you are copying documents from C-PEM to PEG, you cannot bring over any C-PEM forms in the process.
Audit Import
You can bring client data from your existing Audit engagement file into your new client file. The data is imported from the following forms:
| Form Number | Name |
|---|---|
| 370 | Worksheet - Matters for future consideration |
| 440 | Worksheet - Information/analysis requested from management |
| 437 | Worksheet - Fraud scenarios |
| 501 | Worksheet - Analytical procedures |
| 508 | Worksheet - Listing of risk factors and possible responses |
| 510 | Identifying risks through understanding the entity (Core) |
| 510 NFP | Identifying risks through understanding the entity (Core) |
| 510C | Identifying risks through understanding the entity (Core) |
| 510C NFP | Identifying risks through understanding the entity (Core) |
| 513 | Understanding accounting estimates (Core) |
| 514 | Worksheet - Outcome of prior period accounting estimates |
| 515-1 | Understanding related parties |
| 525 | Going concern - Identifying events and conditions (Core) |
| 575 | Worksheet - Internal control deficiencies identified |
| 615 | Worksheet - Sampling - Tests of controls |
| 618 | Worksheet - Tests of pervasive (entity-level) controls |
| 655 | Worksheet - Final analytical procedures |
To import client data from an Audit engagement:
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Open the specific document.
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Under Options select Import external data.
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Select the file you would like to import the client data from.
The client data is imported into the client file.
Frequently Asked Questions
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In C-PEM, the Detailed Audit Response Table (DART) could be filled manually in a work program that was not linked through the FSA worksheet. Can I still do this in PEG Audit?
In PEG Audit, the DART can only be filled when linked through the FSA worksheet.
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Why do I need to install a new template?
In August 2017, CPA Canada replaced its C-PEM and PPM offers with the PEG templates. To reflect the changes made by CPA Canada, we have replaced your previous CaseWare C-PEM or CGA template with our new PEG template.
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My C-PEM audit files contain a lot of information around the understanding of the entity. How can I access this in my new PEG audit file?
You can import existing engagement data from your previous C-PEM audit file into the new one. Please see the Audit Import instructions above for more details.
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What do I do for Review Engagements under the old standards (for year ends BEFORE December 14, 2017)?
The C-PEM 2016 Review template covers the previous standards.
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I previously used the Standard version of the C-PEM template. Is there an equivalent option for the PEG templates?
The CaseWare PEG templates take advantage of CaseWare's template technology to prepare an efficient and effective engagement. The templates include full automation; however, for certain automated forms, the original CPA Canada PEG version of the form is included in the document library under the folder Original PEG documents without CaseWare automation.
This online help system applies to all CaseWare Audit, Review, and Compilation products. Not all features are available in all products.
