Audit International 25.00 - Content Updates
Caseware® International Inc. licenses certain content for Audit International under agreement with the Chartered Professional Accountants of Canada (CPA Canada). The content provides non-authoritative guidance on applying International Standards on Auditing (ISAs) issued by the International Auditing and Assurance Standards Board. These forms are designed to assist practitioners in the implementation of the ISAs and are not intended as a substitute for the ISAs themselves. CPA Canada updates their content on a regular basis and practitioners should ensure that they are using the most up to date version of all forms.
Overview
This version of Audit International includes the changes and new requirements in ISA 220 (Revised), Quality Management for an Audit of Financial Statements, and ISQM 2, Engagement Quality Reviews, which are intended to clarify the responsibilities of the auditor regarding quality management at the engagement level for an audit of financial statements, and the related responsibilities of the engagement partner. Additionally, documents listed in this summary have been enhanced to provide more user-friendly content to streamline the audit workflow, as a result of feedback provided by users and practice reviewers/regulators.
New forms
- 302. - Worksheet - Engagement quality checklist
- 380. - Worksheet - Withdrawal
Content updates
Audit International includes the following content updates in addition to the What's New - Audit 25.00.
Engagement file setup
| Form numbers | Description |
|---|---|
| 400. |
Added a new procedure for ISA 220 (Revised). Major changes to Existing/initial audit, Auditor's expert, Internal audit, Direct assistance, Component auditors, and Quality review procedures. Minor updates to Profile information, ISA 315 (Revised 2019), Group audit, Group audit alternative approach, and Reporting checklist optimiser procedures. |
| 400-1. |
Added new procedures for ISA 220 (Revised), Going concern, Transactions with component entities/related parties, and Quality review. Minor updates to Profile information and Reporting checklist optimiser procedures. |
| 400-2. |
Added a new procedure for ISA 220 (Revised), Going concern and Quality review. Major changes to Existing/initial audit, Auditor's expert, and Quality review procedures. Minor updates to Entity type, Profile information, ISA 315 (Revised 2019), and Reporting checklist optimiser procedures. |
Audit
| Form numbers | Description |
|---|---|
| ONEFORM. | Updated form for ISA 220 (Revised). |
Planning
| Form numbers | Description |
|---|---|
| 405. |
Added 1 new procedure. Major changes to 4 procedures. Minor changes to 6 procedures. Updated document guidance and conclusion. |
| 428. |
Major changes to 1 procedure. Minor changes to 3 procedures. |
| 430. |
Major changes to 3 procedures. Minor changes to 2 procedures. Updated document guidance. |
| 444. |
Major changes to 2 procedures. Minor changes to 1 procedure. Deleted 2 procedures. Updated document guidance. |
| 455. |
Major changes to 1 procedure. Minor change to 2 procedures. |
| 436. |
Added 2 new procedures. Major change to 4 procedures. Minor change to 6 procedures. Updated document guidance. |
| 420. | Minor changes were made where the name "CaseWare" was changed to "Caseware". |
Risk assessment
| Form numbers | Description |
|---|---|
| 523-2. | Minor changes were made where the guidance name "CaseWare Documentation Tips" was changed to "Documentation Tips". |
| 540. | Updated guidance. |
| 545. | Updated guidance. |
| 550. | Updated guidance. |
| 555. | Updated guidance. |
| 560. | Updated guidance. |
| 561. | Updated guidance. |
| 562. | Updated guidance. |
Risk response
| Form numbers | Description |
|---|---|
| 676. | Minor changes were made where the name "CaseWare" was changed to "Caseware". |
| 5001 RENAMED | Updated document guidance and conclusions. |
Audit plans and procedures
| Form numbers | Description |
|---|---|
| SUP3 |
Major change to 1 procedure. |
Completion documents
| Form numbers | Description |
|---|---|
| 100 | Terminology changes for Engagement Quality Control Review to Engagement Quality Review. |
| 335. | Updated the top performance materiality value to populate from final performance materiality in Form 420. instead of preliminary performance materiality. |
| DOC |
Added 5 new procedures. Major changes to 1 procedure. Minor changes to 8 procedures. |
| 301 | Document tag updated for ISA 220 (Revised) for optimiser. No changes to the content of the form. |
| 302. NEW | New Engagement quality review checklist added for ISA 220 (revised). |
| 305. |
Major changes to 6 procedures. Minor changes to 10 procedures. Updated document guidance. |
| 310. |
Added 2 new procedures. Major changes to 9 procedures. Minor changes to 8 procedures. Updated document guidance. |
| 380. NEW | New Withdrawal checklist. |
Caseware Audit System documents
| Form numbers | Description |
|---|---|
| Q | Updated terminology relating to ISA 220 (Revised), and modified links to reflect the current content in the Audit International template. |
Original toolkit forms (replaced by Caseware automated tools)
| Form numbers | Description |
|---|---|
| 450. | Minor changes were made where the guidance name "CaseWare Documentation Tips" was changed to "Documentation Tips". |
| 451. |
Terminology changes for Engagement Quality Control Review to Engagement Quality Review. Minor changes were made where the guidance name "CaseWare Documentation Tips" was changed to "Documentation Tips". |
