• Financial Statement Areas Worksheet
  • Audit Areas
  • Automation of risk assessments and audit responses
  • Other Control Processes
  • Customizing the Worksheet
  • Filters and Views
  • Planning in the Financial Statement Areas Worksheet
  • Risk Assessment in Financial Statement Areas Worksheet
  • Risk Response in Financial Statement Areas Worksheet
  • Financial Statement Areas Titles and Totals
  • About the Financial Statement Areas Worksheet
  • Worksheet Columns
  • Buttons
  • Configure Options
  • Financial Statement Areas Worksheet Menus
  • Adding a subtotal to the FSA Worksheet
  • Inserting Titles Rows
  • Displaying and Adjusting Columns
  • Adjusting the view in the Financial Statement Areas Worksheet
  • Associating Assertions and Business Cycles to an FSA
  • Assessing Materiality in the FSA
  • Assessing Risk in the FSA
  • Responding and Finalizing an FSA Item
  • Inserting a Audit Area

Audit Areas

Audit areas and detailed lines in the FSA provide users the flexibility to configure the FSA based on the Balance Sheet / Income Statement and link it to work programs, which are usually grouped into Audit Areas. You can give the new area a name, select the items that will be linked to it in the FSA, and specify how sum calculations work for the new audit area. The new audit area is sortable and risk report will be based on it.

When an item becomes a part of an audit area the following become applicable to the audit area, not the FSA:

• Work Program
• Assertions
• Risk assessment (IR, CR, OR)
• Business Cycle (Risks and Controls)
• Risks

There is a new Areas section under the right-click menu. Select Insert New Audit Area to insert a new Audit Area. You can also delete an existing audit area from this menu or edit any or the following:

Description

This is the name of the area that will appear in the FSA.

Items

These are the areas that will be grouped under the new audit area in the FSA. An item can only appear in one audit area.

Sum Calculations

You can specify the type of sum calculations performed in the new audit area. The possible selections are:

Sum Calculation Type	Description
None	There will be no balance shown for the audit area.
Total	The value of the audit area will be the sum of all included FSA areas.
Absolute	The value of the audit area will be the absolute sum of all included FSA areas.

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