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Profile 4 - OneForm+

The OneForm+ profile includes automatic documents, work programs, materiality and the Financial Assertions Worksheet. It also includes "OneForm" - a memo document designed as a framework for ISA documentation requirements (effective for audits of financial statements for periods beginning on or after 15 December 2022, including ISA 220 (Revised), Quality Management for an Audit of Financial Statements and ISA 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement). It includes Caseware's automated risk tracking and reportable item modules. Where more guidance is required additional documents can be added from a document library.

Audit tools include:

  • Trial balance, journal entries and issues
  • Optimiser checklist to customise specific procedure actions in work programs
  • OneForm - a one page audit memo to complete required documentation for planning, risk assessment/responses, and completion of the audit.
  • Materiality worksheet and key materiality information at the top of most documents
  • Financial Statement Areas worksheet (FSA)
    • Deletes immaterial audit sections.
    • Deletes procedures on risk assessment.
  • Audit Plans and Procedures - lead sheets and audit work programs
  • Identified Misstatements - unrecorded journal entries (summarised by factual/projected/judgemental) and a summary of unadjusted misstatements.
  • Risk database where risks can be easily added throughout the engagement and summary risk reports produced.
  • Reportable item database where reportable items can be accumulated throughout the engagement and a report to management/those charged with governance can be prepared.

For a comparison of all the profiles and general options, click here.