Financial Statement Areas Worksheet and Materiality
The Optimiser can use the Financial Statement Areas (FSA) Worksheet to remove default documents from the engagement client file based on the engagement's assessed preliminary Materiality. You can enable this option from the AO - General options document and selecting Delete documents based on materiality in the FSA in the Optimiser pane.
The documents referenced to financial statement area items that are not material are selected for removal and included in the Audit Optimiser Confirmation Report. As well, documents in the same folder as the associated documents on the Document Manager will also be suggested for removal.
Within a client file, once the engagement team determines the Materiality assessment and refreshes the FSA Worksheet, the Optimiser will automatically suggest that the W/P ref. documents associated with non-material financial statement area items be removed.
As well, documents in the same folder as the associated documents on the Document Manager will also be suggested for removal. For example, where Investment Propertyis found to be not material, the associated document 5.101 and all other documents in the same folder will be suggested for deletion.
Optimiser includes all documents suggested for removal in the Audit Optimiser Confirmation Report where the engagement team can confirm their deletion. Where all documents in a folder have been confirmed for deletion, the folder will also be removed.
As the Firm Author, you should pre-generate the FSA Worksheet in the master template and associate the appropriate work program to each financial statement area item. This will save time and provide consistency across all client files. For more information on the FSA Worksheet, refer back to the Financial Statement Areas Worksheet section.
This online help system applies to all Caseware Audit, Review and Compilation products. Not all features are available in all products.