Overview and Features

Automate the audit process

Once the audit process is automated, the time required to plan, customise and document the audit is dramatically reduced; work is consistent and easier to manage. The current year’s files provide a template for future years, and staff time is used more efficiently.

• A complete solution – Audit Work papers covers the entire process of performing an audit, from engagement to sign-off.
• Immediate benefits – Full automation improves the speed, accuracy and consistency of audits.
• Time saving – Once a client has been set up, it takes just a few minutes each year during the planning process to update information such as background information and the assessment of risk.
• Instant summary – You can continually monitor progress by reviewing a summary of outstanding tests and checklist questions.
• Smart selection – During planning, sections and standard procedures that are not applicable to the audit are automatically removed.

Benefit from paperless working

Manual audits create a lot of paper. Paper takes up valuable office space, costs money to store and takes time to file and retrieve. Paperless working reduces the cost and makes information easier and quicker to find.

• Savings – Audit Work Papers makes the entire audit process paperless, saving staff time, office space and money.
• Secure authorisation – During the audit process, checklists and programmes are completed on screen and working papers, comments and notes can be added at any stage. Paperless working ensures that nothing is ever misplaced or lost.
• Multi-user access – Any number of staff can work on a single client simultaneously, creating working papers and signing off tests and questions.
• Templates – Working papers can be based on standard templates.
• Automatic indexing – All documents generated within the system are automatically indexed and listed on screen, making them easy to find and use. Hyperlinks can be created to documents to make the review process quicker and easier.

Minimise risk for you and your clients

Audit Work Papers provides a framework that is fully compliant with the International Standards on Auditing. The software helps you to identify and record risk at every stage in the audit process.

• Compliance – Provides a framework that is fully compliant with the International Standards on Auditing (ISA).
• Evaluation – Risk analysis tools allow you to evaluate risks for each client in an ISA-compliant manner. Significant business risks can be identified and recorded, and the linking of audit procedures to risks ensures that the reviewer has a full picture of the results of the audit work.
• Analysis – Powerful analytical tools allow you to identify possible problem areas by reviewing calculations and comparing trends. Based on your assessment of the risks, further tests can be added as necessary.
• Error reduction – No step in the process can be signed off until all tests, questions and notes have been answered and reviewed.
• In-built quality – Sophisticated quality control procedures are built into every stage of the audit process. During the planning process, customised checklists are generated which cover all areas, including accounts disclosure.

Work the way you want to

Every client has different requirements, and every auditor has a different way of working. It’s easy to adapt and customise documents and programmes and to save these changes for future use.

• Customisation – Standard audit programmes represent the minimum work that has be done. Tests can be added or deleted according to the specific requirements and risk profile of the client.
• Flexible – Accounts disclosures and other checklists are customised to suit the requirements of the case.