Audit International 22.00 - Content Updates
CaseWare® International Inc. licenses certain content for Audit International under agreement with the Chartered Professional Accountants of Canada (CPA Canada). The content provides non-authoritative guidance on applying International Standards on Auditing (ISAs) issued by the International Auditing and Assurance Standards Board. These forms are designed to assist practitioners in the implementation of the ISAs and are not intended as a substitute for the ISAs themselves. CPA Canada updates their content on a regular basis and practitioners should ensure that they are using the most up to date version of all forms.
Table of Contents
- New Accounting Estimates and Procedures
- Upgrading the Template
- Revision B Content Updates
- Revision A Content Updates
New Accounting Estimates and Procedures
In addition to the base release of Audit 22.00, we’ve introduced new Accounting Estimates content that relates to ISA 540 (Revised) Account Estimates and included associated subgroups and procedures. Before you update your template, ensure you review the Accounting Estimates section and the content updates outlined below.
- In Revision A content updates, we added a new Accounting Estimates section under the Planning and Risk Assessment area. The Accounting Estimates section includes Form 523 Worksheet - Entity specific - Accounting estimates (Core), Form 523-1 Worksheet - Understanding accounting estimates (Core) and Form 523-2 Worksheet - Outcome of prior period accounting estimates (Core).
- In Revision B content updates, we changed the name of two Forms in the Accounting Estimates section: Form 523 Worksheet - Understanding accounting estimates (Core) and Form 523-1 Worksheet - Understanding complex accounting estimates (Core).
- Included the new Accounting Estimates procedures that are used in multiple work programs as common procedures for all FSA related work programs (i.e. 1.101, 5.101 etc.) and other related work programs.
- See the Known Issues page to view the issues affecting the current version of Audit International.
Upgrading the Template
When you upgrade your template we recommend that the license administrator first create a backup of the master template. Template authors can then retrieve the newest version of the Audit template from their distributor and proceed to upgrade the master template. If you customize the upgraded master template, ensure to repackage and distribute it to the engagement team so they can upgrade their client files.
Revision B Content Updates
In this version of Audit International, we modified content to clarify wording, refined procedures by removing duplicates and added new subprocedures and guidance. The Audit International: Revision B content updates were released in September 2020.
Engagement file setup
| Form Numbers | Description |
|---|---|
| 400. | One major change by clarifying auditor’s experts other than accounting estimates. |
Audit
| Form Numbers | Description |
|---|---|
| ONEFORM. |
Updated the name of Form 523 and 523-1 to ensure it is consistent with template. Updated the wording for Management bias related to accounting estimates. Added additional procedure, “Significant judgement relating to the reasonability of accounting estimates and related disclosures (ISA 540.39e).” |
Risk assessment
| Form Numbers | Description |
|---|---|
| 523. |
Updated the name of the Form. Reworded instructions for clarity and defined a complex accounting estimate. Added additional procedure to allow for documentation of the nature of the estimation. Added explicit procedure for documenting estimation uncertainty. Reworded procedures for clarity and removed duplicated procedure. |
| 523-1. |
Updated the name of the Form. Clarifications within the instructions and define a complex accounting estimate. Addition of data integrity procedures for compliance with ISA540 A39. Reworded procedures for clarity and remove duplicate procedure. Removed conclusion statement. |
Risk response
| Form Numbers | Description |
|---|---|
| 625. |
Turned off procedure availability of common procedures not relevant for this form. |
| 645. |
Major change to 7 procedures. Added 7 new procedures, 2 of which are common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures in this form. |
| 650. | Turned off procedure availability of common procedures not relevant for this form. |
| 666. | Turned off procedure availability of common procedures not relevant for this form. |
| 670. | Turned off procedure availability of common procedures not relevant for this form. |
| 4000.101 | Turned off procedure availability of common procedures not relevant for this form. |
Audit Plans and Procedures
| Form Numbers | Description |
|---|---|
| 1.101 |
Major change to 9 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures in this form. |
| 5.101 |
Major change to 9 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures in this form. |
| 10.101 |
Major change to 9 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 duplication common procedures since the content has been covered by other procedures inside this form. |
| 20.101 |
Major change to 9 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 duplication common procedures since the content has been covered by other procedures inside this form. |
| 35.101 |
Major change to 9 procedures. Added 2 new common procedures related to accounting estimates. Minor change to 3 procedures. Deleted 6 common procedures as the content is covered by other procedures in this form. |
| 110.101 |
Major change to 9 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures inside this form. |
| 110.110 | Turned off procedure availability of common procedures not relevant for this form. |
| 120.101 |
Major change to 10 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures inside this form. |
| 130.101 |
Major change to 9 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures inside this form. |
| 130.110 | Turned off procedure availability of common procedures not relevant for this form. |
| 135.101 |
Major change to 10 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures inside this form. |
| 140.101 |
Major change to 7 procedures. Added 2 new common procedures related to accounting estimates. Minor change to 1 procedure. Deleted 6 common procedures as the content is covered by other procedures inside this form. |
| 140.110 | Turned off procedure availability of common procedures not relevant for this form. |
| 140.115 | Turned off procedure availability of common procedures not relevant for this form. |
| 200.101 |
Major change to 7 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures inside this form. |
| 200.102 |
Major change to 7 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures inside this form. |
| 300.101 |
Major change to 9 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures inside this form. |
| 325.101 |
Major change to 9 procedures. Added 2 new common procedures related to accounting estimates. Delete 6 duplication common procedures since the content has been covered by other procedures inside this form. |
| 330.101 |
Major change to 9 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures inside this form. |
| 400.101 |
Major change to 9 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures inside this form. |
| 425.101 |
Major change to 9 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures inside this form. |
| 425.110 | Turned off procedure availability of common procedures not relevant for this form. |
| 430.101 |
Major change to 7 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures inside this form. |
| 1500.101 |
Major change to 9 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures inside this form. |
| 1600.101 |
Major change to 9 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures inside this form. |
| 1600.105 |
Major change to 9 procedures. Added 2 new common procedures related to accounting estimates. Deleted 6 common procedures as the content is covered by other procedures inside this form. |
Other Audit Documents
| Form Numbers | Description |
|---|---|
| 000 |
Updated the name of the Form 523 and 523-1 to ensure the consistency of the template. |
Revision A Content Updates
The Audit International: Revision A content updates were released in May 2020.
Engagement file setup
| Form Numbers | Description |
|---|---|
| 400. | Major change to 3 procedures. |
| 400-1. |
Minor change to 1 procedure. Deleted 1 procedure related to Management bias. |
| 400-2. |
Major change to 1 procedure related to estimates. Deleted 1 procedure related to Management bias. |
| 400-3. |
Minor change to 1 procedure. Deleted 1 procedure related to Management bias. |
Audit
| Form Numbers | Description |
|---|---|
| ONEFORM. | Updated the reference and relevant content for ISA 540 (revised) accounting estimates. |
Planning
| Form Numbers | Description |
|---|---|
| 405. |
Major change to 1 procedure. Minor change to 1 procedure. |
| 455. |
Major change to 3 procedures. Minor change to 3 procedures. Location of the form has been moved down in the master template. |
| 455C. |
Major change to 4 procedures. Minor change to 4 procedures. Location of the form has been moved down in the master template. |
| 436. |
Major change to 3 procedures. Minor change to 1 procedure. |
| 436C. |
Major change to 2 procedures. Minor change to 1 procedure. Minor change to document guidance. |
| 420. | Improved the warning calculation for Section C “Performance materiality” and Section D ”Materiality for specific circumstances”. Also minor formatting change in section F. |
Risk assessment
| Form Numbers | Description |
|---|---|
| 525. | HTML guidance updated based on ISA content update. |
| 510. | New section “Accounting estimates” added with content flowing to new forms 523 and 523-1. |
| 510C. | New section - “Accounting estimates” added with content flowing to new forms 523 and 523-1. |
| 513. (deleted) | Deleted and replaced with Form 523/523-1. |
| 523. (new) | New form. |
| 523-1. (new) | New form. |
| 523-2. (previously 514.) |
Renumbered the form to 523-2. Added a new optimiser tag. |
| 530. | New section under each COSO Framework related content update for ISA 540 (revised). |
Risk response
| Form Numbers | Description |
|---|---|
| SAMP |
Updated the form name to be consistent inside form and on the name in the document manager. The sample size calculation has been updated to always round up the value. |
| 620. |
Major change to 1 procedure. Major change to document guidance. |
| 625. | Increase the content version in order to set up the common procedure availability to push to existing client files. |
| 630. | Table has been fixed to ensure row insertion / deletion / sort can be done without issues. As a result of the fix, there will be a blank row in the middle of the table which can be deleted manually. |
| 635. (Deleted) | Deleted and moved the relevant procedures into X.101 and relevant Audit procedures forms. |
| 645. |
23 new procedures related to accounting estimates - set up as common procedures. Major change to document guidance. Delete 2 procedures. |
| 650. | Increase the content version in order to set up the common procedure availability to push to existing client files. |
| 666. | Increase the content version in order to set up the common procedure availability to push to existing client files. |
| 670. | Increase the content version in order to set up the common procedure availability to push to existing client files. |
| 4000.101 |
Major change to 1 procedure. 1 new required procedure. Major change to document guidance. Delete Audit is Distinct items which include 4 procedures. Minor change to 4 procedures. Turned off procedure availability of common procedures not relevant for this form. |
| 5009 |
Minor change to 1 procedure. Delete 1 procedure. |
Audit plans and procedures
| Form Numbers | Description |
|---|---|
| 1.101 |
Major change to 4 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Major change to document guidance. |
| 5.101 |
Major change to 3 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Major change to document guidance. |
| 10.101 |
Major change to 2 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Major change to document guidance. |
| 20.101 |
Major change to 2 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Major change to document guidance. |
| 35.101 |
Major change to 3 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Minor change to 1 procedure. Major change to document guidance. |
| 110.101 |
Major change to 4 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Minor change to 2 procedures. Major change to document guidance. |
| 110.110 | Turned off procedure availability of common procedures not relevant for this form. |
| 120.101 |
Major change to 2 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Major change to document guidance. |
| 130.101 |
Major change to 5 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Major change to document guidance. |
| 130.110 | Turned off procedure availability of common procedures not relevant for this form. |
| 135.101 |
Major change to 2 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Major change to document guidance. |
| 140.101 |
Major change to 2 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Major change to document guidance. |
| 140.110 | Turned off procedure availability of common procedures not relevant for this form. |
| 140.115 | Turned off procedure availability of common procedures not relevant for this form. |
| 200.101 |
Major change to 2 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Minor change to 1 procedure. Major change to document guidance. |
| 200.102 |
Major change to 2 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Major change to document guidance. |
| 300.101 |
Major change to 6 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Minor change to 2 procedures. Major change to document guidance. |
| 325.101 |
Major change to 2 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Major change to document guidance. |
| 330.101 |
Major change to 2 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Minor change to 5 procedures. Major change to document guidance. |
| 400.101 |
Major change to 2 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Minor change to 1 procedure. Major change to document guidance. |
| 425.101 |
Major change to 3 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Major change to document guidance. |
| 425.110 | Turned off procedure availability of common procedures not relevant for this form. |
| 430.101 |
Major change to 2 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Major change to document guidance. |
| 1500.101 |
Major change to 2 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Minor change to 3 procedures. Major change to document guidance. |
| 1600.101 |
Major change to 2 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Minor change to 4 procedures. Major change to document guidance. |
| 1600.105 |
Major change to 2 procedures. 23 new common procedures related to accounting estimates including procedures moved from Form 635. 1 new required procedure. Delete 2 procedures related to Management bias and estimate procedure. Minor change to 3 procedures. Major change to document guidance. |
| 110.125, 130.125, 425.125, 1500.125, 1600.103, 1600.107 | The sample size calculation has been updated to always round up the value. |
Completion documents
| Form Numbers | Description |
|---|---|
| 335-1. | Minor change to 1 procedure. |
| DOC. |
Major change to 1 procedure. Minor change to document guidance. |
| 305. |
Major change to document guidance. Minor change to 4 procedures. |
| 350. | Updated document reference and relevant content for the ISA 540 (revised) accounting estimates. |
| 310. |
1 new procedure. 1 new group title. Minor change to 30 procedures. |
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