-- Firm Author --

General Options

The AO ‑ General options document is used to define and customize the structure and properties of the work programs and checklists and to manage the firm's default settings for many of the automated features. The firm settings are applied globally and, for the most part, cannot be changed at the engagement file level. The general options document consist of ten different sections that need to be completed prior to distributing the master template file to the engagement team. These areas include the following:

  • Product Settings

    Customize the information that appears in the Template Update dialog including the product and release description, the release notes link and any additional information that needs to appear in the dialog.

  • Engagement Profile

    Engagement profiles allow Firm Authors to define unique profiles for different types of engagements, whether it is for different industries or for different assurance levels. When engagement profiles are enabled, each profile determines the documents to be included for the engagement, and can also set global settings for risk options, control options, reportable items options, and other settings in the AO - General options document.

    When a new client file is created based on the master template, the engagement team selects a profile from the list of engagement profiles that have been made available. Each engagement profile is designed to provide the engagement team with the necessary documents to start a particular type of engagement. As the use of any document is a matter of professional judgment, the engagement team can subsequently add any additional documents from the master template.

    For more information, see Specifying and Creating an Engagement Profile.

  • All Forms

    The All Forms section contains setting that affects what is displayed in the documents such as sign offs and form footers.

    For more information, see Defining Setting for Forms

  • Materiality

    The Materiality section contains settings that affect what is displayed in the Materiality documents.

    For more information, see Setting the Display Settings for Materiality

  • Assertions

    The Assertions section contains settings that define the number of assertions and how they are combined.

    For more information, see Specifying Settings for Assertions

  • Work Programs and Checklists

    • Industry

      You have the option of selecting the industry codes that are appropriate for your market. Five of the most common classifications are listed in the drop‑down list. The selection made here specifies the industry classifications listed in the work program and checklist documents.

    • Roll forward

      • A firm can define whether Note rows, Completion responses (including any explanations), References and Conclusions are to be cleared or retained during the year‑end close roll forward process. Any information marked to be retained will automatically appear in the following year's work program or checklist. Note: The rollfoward options set here only relate to work programs and checklist. Unless otherwise noted, all other documents in the file are cleared when rolled forward to the subsequent period.

    • Check for Updates

      You can select the process that the engagement team will use to update the client file with procedure and document properties updates for work programs and checklists. This update process is initiated in each work program or checklist in the engagement file.

    For more information, see Specifying Settings for Work Programs and Checklists

  • Work Programs

    • Areas

      • This section allows the firm author to define the areas and columns available within work program document, specify area headings and their names and abbreviations including entity level risks and assertions for the work program.

    • Completion Responses

      • This section allows the firm author to select between Audit built-in typical completion responses to work program steps or create your own.

    • Procedure Allocation

      • Enabling Procedure allocation provides the ability to assign procedures in a work program or checklist document to specific users, and allows only those users to complete their assigned procedures. This capability is useful if a checklist or work program is to be completed by multiple members of the team. In addition, if responses to procedures could potentially contain sensitive information, the procedures can be marked as Sensitive and their responses hidden from other members of the team.

      From the master template, the firm author has the option to provide guidance by assigning procedures to a recommended security group, and in the engagement file, procedures can be assigned to specific users within the group recommended by the firm or to any other member of the engagement team.

    For more information, see Defining Standards for Work Programs

  • Optimiser

    Optimiser assists engagement teams in building a more effective engagement by removing unnecessary documents, risk and controls that are not applicable for the client and work program and checklist procedures that are not applicable and do not meet the assessed level for the financial statement are.

    For more information, see Configuring the Optimiser

  • Risk

    The Risk options allow the author to define various attributes of risk. When accumulating risks in client files engagement teams access a risk dialog that will display the attributes of a risk as defined by the firm author. The risk attributes are then compiled for display in various risk reports.

    For more information, see Defining Risk Options

  • Control

    The controls options allow the author to define various attributes of controls. When accumulating controls in client files, engagement teams access a control dialog that will display the attributes of a control as defined by the firm author. The control attributes are then compiled for display in various control reports.

    For more information, see Defining Control Options

  • Reportable Items

    The reportable items options allow the author to define various attributes of reportable items. When creating reportable items for client files, engagement teams access a reportable item dialog that displays the attributes of a reportable item as defined by the firm author. The reportable item attributes are then compiled for display in management letters and the Management Letter Report.

    For more information, see Defining Reportable Items

When you change a setting in the AO - General options document, you must change the document version to ensure that the changed setting is updated in client files. See Client File Updates for more information on updating client files.