• 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

Planning in the Financial Statement Areas Worksheet

The Financial Statement Areas worksheet is a valuable audit tool, as it accumulates all of the financial statement areas for an engagement in a central location where various properties can be associated. The Financial Statement Areas (FSA) Worksheet consist of three important components,

1. Planning
2. Risk Assessment
3. Risk Response

As part of the planning process, the FSA provides the ability to,

• Populate the financial statement areas by generating the worksheet by the desired grouping option (for example, mapping, leadsheet, grouping).

• Ensure that any line items with amounts that are above overall materiality or performance materiality at financial statement level are automatically checked. They can be overwritten by the user when necessary. Items to be considered for specific performance materiality by classes of transactions, account balances, disclosures. and other need to be manually checked off by the user where applicable.

• Record the business cycles that initiate, record, process and approve the transactions and entries that comprise the account balance or disclosure.

• Select the columns in the FSA Worksheet that are to be displayed or hidden. Display settings are not retained on exiting the worksheet. When re-opened, the columns will be present.

• Insert titles and totals to organize the FSA Worksheet and make it easier to read.

Note: The FSA Worksheet can contain a maximum of 200 items.

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