You are here: Get Started > PEG > PEG - Content Updates (Audit)

PEG - Content Updates (Audit)

The CaseWare/CPA Canada PEG template has been updated to include the latest features from Audit 22.00 as well as integration with the Queries (PBC Requests) app.

In addition, the PEG template includes the following content updates:

New forms

Form Numbers	Description
375	New worksheet to document the nature of the consultation, key issues identified, and conclusion or outcome.
513, 513C	The form has been redesigned to include the new requirements in revised CAS 540 relating to understanding how management makes accounting estimates and assess the risk for accounting estimates. Additionally, these forms were combined with Form 521 - Risk register - entity specific - accounting estimates as required by revised CAS 540 including: Evaluation of the degree of estimation uncertainty, complexity and subjectivity involved A separate assessment of inherent risk and control risk
635, 635A, 635B, 635C, 635D, 635E, 635F, 635G, 635H, 635I, 635J, 635K, 635L, 635M, 635N	Redesigned the form to provide a choice of three testing approaches for the accounting estimates as required by the revised requirements in CAS 540. These are: Testing event subsequent to the balance sheet date Testing the preparation of management’s estimates Developing an auditor’s point estimate or range If internal controls are to be relied upon, they must be tested.
706	New worksheet to cover the requirements relating to revenue recognition.
A5	Readded sample confirmation letter introduction.
375, 513, 513-1, 513-2, 513C, 521	Added original CPA Canada forms under Original PEG Forms (replaced by CaseWare Automated Tools).

Deleted forms

Form Numbers	Description
513	Replaced Form 513 to update the new requirements in revised CAS 540 relating to understanding how management makes accounting estimates.
635	Replaced Form 635 with the new 635 series to update the revised requirements in CAS 540.

Forms with moderate revisions

Form Numbers	Description
MAP	Updated the PEG Audit Map to reflect the most updated information for PEG audit template.
400	Added a new optimizer question relating to accounting estimates.
310	Revised form to include considerations for: Overall evaluation of the audit Reporting conclusions on whether a modified report is necessary
436	Updated form to consider accounting estimates and related disclosures.
420.	The benchmarks for overall materiality have been updated to be consistent with the guidance in Chapter 11 of Volume 2. Modified numbered bullets to normal bullets to minimize issues with numbering during update.
505, 505C, 510, 510 NFP	Updated the hyperlink for certain procedures to ensure its reflect correct form. Modified numbered bullets to normal bullets to minimize issues with numbering during update in Form 510 and 510 NFP.
506	Updated the sign off options for the document. Modified numbered bullets to normal bullets to minimize issues with numbering during update.
514	Updated the document guidance and tag associated with this form.
525	Added new event/condition to address significant estimation uncertainty in an accounting estimate.
650	Redesigned form to clarify requirements.
680	New procedures relating to change in ASPE for Section 3856, Financial Instruments (treatment of retractable and mandatorily redeemable shares issued in a tax planning arrangement and related-party transactions). Updated the availability of procedures not necessary in this form.
681	New procedures relating to change in ASPE for Section 3856, Financial Instruments (treatment of retractable and mandatorily redeemable shares issued in a tax planning arrangement and related-party transactions). Updated the availability of procedures not necessary in this form. Modified numbered bullets to normal bullets to minimize issues with numbering during update.
645, 666, 670, 501CR, 502CR, 503CR, 504CR, A.110, A.115, C.110, D.110, CC.110	Updated the availability of procedures not necessary in these forms. Modified numbered bullets to normal bullets to minimize issues with numbering during update.
A.100, B.100, C.100, C.100 NFP, V.100 NFP, D.100, E.100, L.100, N.100, U.100, U.100 NFP, W.100, W.100 NFP, AA.100, BB.100, CC.100, FF.100, GG.100, MM.100 NFP, KK.100, UU.100, UU.110, TT.100 NFP, 705, 705 NFP, 720, 730, 735	Added new procedures to consider accounting estimates identified on Form 513 when finalizing audit plans, and new procedures to address management bias. Updated the availability of procedures not necessary in these forms. Modified numbered bullets to normal bullets to minimize issues with numbering during update.
340, 405, 410, 410CR, 455, 565, 605C, 520C, 522C	Modified numbered bullets to normal bullets to minimize issues with numbering during update.
FRF 906	To reflect the changes to the ASPE standards relating to Section 3856, Financial Instruments, for significant risk disclosures, retractable or mandatory redeemable shares issued in a tax planning arrangement and related-party transactions. To reflect minor changes in Section 3475 relating to the presentation of future taxes. Modified numbered bullets to normal bullets to minimize issues with numbering during update.
FRF 908	To reflect minor changes in Section 3475 relating to the presentation of future taxes.
FRF 972	To reflect the changes to the ASNPO standards relating to Section 3856, Financial Instruments.
1(Overview), 445, 531, 540C, 545C, 545C NFP, 550C NFP, 550C, 555C, 560C, 637, ASPE_README, FRF 905, 000, 001C, 001 NFP, 520, 522, 590-1 FSL, 590-2 AL, 590 PREVIOUS	Replaced documents based on updated CPA Canada content.

Forms with minor revisions

Form Numbers	Description
ONEFORM	Updated the content related to revised CAS 540.

Letters with moderate revisions

Form Numbers	Description
350	Revised wording related to representations over accounting estimates and related disclosures.
AL3.3	Added a consideration about whether a subjective or complex accounting estimate is a significant risk to be communicated.
AL4.2	Revised wording related to assistance of details of accounting estimates and related disclosures. Modified numbered bullets to normal bullets to minimize issues with numbering during update.
AL5.15, AL7.6, AL7.11	Modified numbered bullets to normal bullets to minimize issues with numbering during update.

This online help system applies to all CaseWare Audit, Review and Compilation products. Not all features are available in all products.