Handbook June 2017

Audit Assistant User Handbook
June 2017 1


Introduction 4
Overview 5
What is Audit Assistant? 5
Why use this technology? 6
Current Templates 7
Historical Financial Audits 7
Compliance Audits 8
Review Engagements 9
Other 9
Hosting 10
Hardware and software requirements 11
Work-flow 11
Support 12
Training 14
Housekeeping 15
Sign-up, billing and service levels 15
Log-in 15
Users 16
Adding firm logos and letterhead 18
Client creation and deletion 19
Links to standards 21
Client selection 22
Assigning users to a Job 23
Client duplicate and restore function 24
Performing work within Audit Assistant 26
Index and Navigation 26
Using the Control Page (A1) 27
Client contacts 29
Creating documents and reports 30
Adding deadlines 32
Sharing pages with third parties 33
Trial balance import 35
Trial balance data from client in Excel - MYOB AO 36
Trial balance data from client in Excel - Xero 36
Trial balance data from client in Excel/CSV Other 36
Using downloadable CSV template for trial balance data 37
Importing Excel/CSV template 37
Second and subsequent year trial balance import 38
Problems with trial balance import 38
Trial balance sorting and sub-totals 39
Risk identification and analysis 40
Materiality assessment 42
Analytical review 43
Transactions testing and sampling 44
Overview 44
Testing page creation 44
Setting up testing table 46
Data entry and testing 47
2 Audit Assistant Ltd, 2017


Journal entries (audit adjustments) 49

Management report points 51
Adding an attachment 53
Adding a comment 55
Adding a key issue 56
Adding a follow up 57
Conclusions 58
Review notes 59
Annual rollover 60
Printing options 62
Contact details 62
June 2017 3


Introduction
Audit Assistant was conceived in the late 1990s when Chartered

Accountant Clive McKegg began using Excel spreadsheets to create
smart audit work papers in terms of the NZ Codified Auditing Standards.
This became popular with many New Zealand auditing firms.
In 2009 Clives son Matt joined him to form the present company. As an
experienced developer Matt created a cloud-based platform for a new
version of Audit Assistant while Clive created content based on the New
Zealand versions of the International Auditing Standards (ISA NZs). The
reach of the product expanded deeper into the NZ market as firms began
to transition into paperless and cloud-based applications.
While we work with a wide cross section of auditing and assurance firms,
we are committed in particular to supporting regional firms in their
service of SME businesses and charities. Our primary focus is on NZ
however our products have been found to be useful in other jurisdictions
using international auditing and assurance standards.
We partner with reputable providers and consultants to provide the best

quality service for the demanding world of assurance services, supporting
the NZ economy by using local experts and services (utilising additional
offshore backup being the main exception).


Overview
What is Audit Assistant?

Audit Assistant is an online audit, compliance, compilation and review
engagement documentation system.
Based on International Auditing Standards, plus review, compliance

and compilation standards (references NZ versions within NZ and
international versions elsewhere)
Includes letters and documents appropriate to job (engagement

letters, confirmations, management letters, audit reports etc.)
Allows multiple users access to multiple jobs and multi site access in
real time including peer-review
Online sharing of pages with clients and other third parties for
gathering information and audit evidence
Import of client trial balance and transactions data for testing
Paperless option all documents may be uploaded/attached - or may

be printed if required
Export of completed job to PDF for archiving
Rollover feature to minimise repetition in future periods
User customisability if required (additional training available)
Secure access via SSL/TLS protocols and full secure backup

provision for workbooks and attachments
A platform for a wide diversity of compliance, review, assurance,

inspection, interactive documentation processes
June 2017 5


Why use this technology?

Auditing was traditionally carried out using paper-handwritten files.
Then with the advent of the personal computer auditors began to use the
efficiency gains available by word processor and spreadsheet programs.
Audit Assistant combines concepts from all these plus harnessing the
power of real-time on-line processing via the Internet. The following
trends have driven the move towards this type of technology:
Trend for firms towards multi-site and flex-working to utilise

resources to the fullest
Issues of security and disaster recovery - our offshore backup storage

(Amazon S3) is ISO 27001 certified (the international security
management standard)
Move to paperless office environments
Requirement for peer review/ quality control - often from another

city
Developments in web/cloud technology that now allow web-based

applications to run as well or better than desktop software solutions
The potential of running a professional practice without expensive

internal networks
Trend to software as a service (SaaS) over ownership as a more

predictable and economical cost model
Software that is continually updated and serviced rather than

requiring major re-writes and reinstallation
Struggle for smaller firms to stay competitive with greater demands

and fee pressure - helping smaller niche firms to achieve high quality
audits for a reasonable cost
Higher risk environment for auditors requiring a more standardised

and rigorous approach
ISAs require a much higher level of documentation - best provided

in an online, paperless, on-demand manner


Current Templates
Historical Financial Audits
New audit reporting standards were introduced in 2016 requiring an

update of content in audit workbook templates. For periods ending after
15 December 2016 the following templates should be used for audit jobs:
*TIP: Use these templates SPFR for FPEs Audits (2016 updates) - for historical financial audits
for jobs ending after 15 referencing International Auditing Standards. Includes testing pages
December 2016 for group audits, and audit reports for period ending 15 December
2016 for financial statements prepared in terms under generic special
purpose policies or in accordance with the Special Purpose
Framework for use by For-Profit Entities (SPFR for FPEs) published
by CAANZ (reports by Bill Heritage of Tupiza Ltd).
SPFR for Non-Profits Audits (2016 updates) - for historical financial

audits referencing International Auditing Standards. For non-profit
entities not required to file with charities services. Includes audit
reports for period ending 15 December 2016 for financial statements
prepared in terms under generic special purpose policies (reports by
Bill Heritage of Tupiza Ltd).
Tier 1 & 2 Audit (2016 updates) - for historical financial audits

referencing International Auditing Standards. Includes testing pages
for group audits, and audit reports for period ending 15 December
2016 from Tier 1 and 2 For Profit and Public Benefit Entities
(reports by Bill Heritage of Tupiza Ltd).
Tier 3 PBE Audit (2016 updates) - for historical financial audits

referencing International Auditing Standards. Includes content and
audit reports for period ending 15 December 2016 for Tier 3 Public
Benefit Entities (reports by Bill Heritage of Tupiza Ltd).
Tier 4 PBE Audit (2016 updates) - for historical financial audits

referencing International Auditing Standards. Includes content and
audit reports for period ended 15 December 2016 and subsequent for
Tier 4 Public Benefit Entities (reports by Bill Heritage of Tupiza
Ltd).
In addition the following template has been updated to the 2016 reporting
standards - there is no old version:
Historical Financial Audit - Schools - for historical financial audits

of NZ Schools in terms of the requirements of the Office of the
Auditor General to be completed in accordance with best audit
practice referencing International Auditing Standards (IPSAS).
The following job types are still available for periods ending up to that
date:
June 2017 7


Base Audit - for historical financial audits to be completed in

accordance with best audit practice referencing International
Auditing Standards. Base version suitable for SME single-entity jobs.
Tier 3 PBE Audit - for historical financial audits to be completed in

Auditing Standards. Customised small non-profit (Tier 3 PBE) jobs.
Tier 4 PBE Audit - for historical financial audits to be completed in

Auditing Standards. Customised small non-profit (Tier 4 PBE) jobs.
GPFS Audit - for historical financial audits to be completed in

Auditing Standards. Includes testing pages for group audits -
recommended to be used in conjunction with applicable Thomson
Reuter checklists - contact us for discount code.
IFRS Audit - for historical financial audits to be completed in

Auditing Standards. Includes testing pages for group audits -
recommended to be used in conjunction with applicable Thomson
Reuter checklists - contact us for discount code.
Compliance Audits
Compliance Engagement - Base version - for the audit of compliance

with terms of grants, trust deeds etc. Based on SAE 3100
(Compliance Engagements) and ISAE (NZ) 3000 (Assurance
Engagements other than Audits or Reviews of Historical Financial
Information).
Compliance Engagement - Real Estate Trust Account - for the audit

of compliance in terms of the requirements of the NZ Real Estate Act
(2008) and Real Estate Agents (Licensing) Regulations 2009. Based
on SAE 3100 (Compliance Engagements) and ISAE (NZ) 3000
(Assurance Engagements other than Audits or Reviews of Historical
Financial Information).
Compliance Engagement - PTE Trust Audits - For use in the audit of

compliance with terms of Private Training Establishment trust deeds.
Based on SAE 3100 (Compliance Engagements) and ISAE (NZ) 3000
(Assurance Engagements other than Audits or Reviews of Historical
Financial Information).
Compliance Engagement - Body Corp - For use in the audit of

compliance in terms of the requirements of the Unit Titles Act 2010
and Unit Titles Regulations 2011. Based on SAE 3100 (Compliance
Engagements) and ISAE (NZ) 3000 (Assurance Engagements other
than Audits or Reviews of Historical Financial Information).


Review Engagements
Review - ISRE (NZ) 2400 - Based on standard: Review of Historical

Financial Statements Performed by an Assurance Practitioner who is
Not the Auditor of the Entity - suitable for all types of review client.
Review - ISRE (NZ) 2400 - Tier 3 PBE - standard review template

modified specifically for Tier 3 PBE with checklists around
requirements of PBE SFR - A (NFP): Public Benefit Entity Simple
Format Reporting - Accrual (Not-For-Profit).
Review - ISRE (NZ) 2400 - Tier 4 PBE - standard review template

modified specifically for Tier 4 PBE with checklists around
requirements of PBE SFR - C (NFP): Public Benefit Entity Simple
Format Reporting - Cash (Not-For-Profit).
Other
PBE Simple Cash Format Reporting Tool - for accountants and third
parties to create Performance Reports that meet the requirements of
the PBE SFR-C (NFP) - Public Benefit Entity Simple Format
Reporting Cash (NFP).
File Transfer Portal - to be used for the transfer of files between

client and firm that is outside of the audit file. This may be set up for
a specific client or group, or set up just one per firm as a temporary
receptacle that is cleared out as soon as files are received or have
been retrieved.
Financial Reporting Regime Testing Tool A tool to test whether

accounting regime selected by client is appropriate (in terms of NZ
For Profit Entity Tier system and Public Benefit Entity Tier system).
Note:
We periodically update our templates to meet the requirements of the

latest changes in standards and when we add new features.
Sometimes updates are made within an existing template (which only

update un-concluded pages) and sometimes the changes are
significant enough to warrant complete new templates- when this is
the case it is possible to swap templates on current jobs and in most
cases all the relevant data will simply transfer into the new style
template.
All of the templates above may be user-customised and users may

also make their own custom templates - training and notes available
on request.
We are also open to collaboration with other content developers who

wish to utilise our platform - contact us.
June 2017 9


Hosting
Audit Assistant runs in a MySQL database hosted in Auckland, NZ at a
data centre operated by Sitehost (https://sitehost.nz/). Their systems
include:
Biometric & RFID security systems ensuring authorised access
24/7 camera monitoring of facility entrances and server rooms
Multiple HVAC units produce a climate controlled environment and

optimised airflow distribution for optimal hardware performance and
lifetime
Redundant parallel UPS and auto-start backup generator with

standby diesel ensuring continuous supply of power
Redundant A+B power distribution units (PDU) ensuring continuous

power supply inside cabinets
Secure buildings with double layer concrete and steel mesh wall
structure
Modern fire detection & suppression system
Exhaustive backup processes in off-site location
Top of the line hardware with 24/7 engineer on call with access
In addition we also:
Run full daily backups plus snapshots made at critical points - these
are stored with data storage provider Amazon S3 (now in Australia -
previously in USA)
Run using transport layer security (TLS) to provide a secure protocol

whereby all data in transit is protected by encryption to minimise the
possibility of access by unauthorised parties


Provide every user firm has a unique URL which ensures that there is
no possibility of data being accessed by other firms
Provide every user within a firm with a unique log-in so that all work
may be traced to a specific user - users are controlled by the account
owner (administrator within the audit firm)
Restrict access to client records - client data is only accessed by us

with owner permission for support purposes
Hardware and software requirements

Audit Assistant runs on the Internet within the browser - so it will run on
any hardware capable of running modern browsers:
Tested in current versions of Chrome, Firefox, Internet Explorer and

Safari - older versions will either not work at all or not display
properly (drag and drop of attachments for example)
Will run over remote desktop and/or terminal server environments

but may need some permissions adjusted - these environments
introduce factors beyond our control so for easier operation and
better speed it is preferable to run directly on the browser
Audit Assistant may also be accessed with some limitations from tablet
and smartphone:
Tested on Safari on iPhone and iPad the sidebar wont show on

iPhone but will on an iPad in landscape mode
iOS 6 and newer allows snapshots to be uploaded directly into

attachments - for scanning documents
Where unable to access Internet access may be gained via 3G/4G

networks:
Access through Vodem, T-Stick or equivalent or tethered via smart-

phone with data plan
Data use is minimal for normal work, but adding larger attachments
will use more - may be preferable to save on device and upload later
if data is limited
Speed via 3G/4G depends on signal strength but is generally slightly

slower than high speed internet access
Work-flow
Each template follows a similar pattern, incorporating auditing and
assurance standards into a logical sequential flow following best
practice:
June 2017 11


The user begins work in the A section, completing planning at the E

section
The F to V sections are for evidential testing according to the risks

and other factors identified in planning
In the W to Z sections the work is completed with a summary of the

work done and results obtained and production of appropriate reports
Each job is driven from the control page - a summary of the whole
audit with branches to subsections
Other key pages are planning document (summary of assessed risks

and audit approach) and audit summary information page (what has
been done and an overview of the outcomes)
Emphasis is on risk identification at the planning stage and creation

of audit plan around these identified risks
Each risk identified must then be addressed in terms of level of risk

and appropriate audit response - carried through to selected work
papers
Further risks identified during fieldwork may require planning

document to be updated
Management letter points and errors are identified during the

process, created on the work-paper and flow into summary pages in
the finalising section
Support
We do our best to offer personal and prompt support. Our preferred
method is through our helpdesk in the first instance:
To access our helpdesk click help link from bottom of sidebar or go

to www.auditassistant.com/hc/en-us to access our website:


Within our website use the search bar to access any key words in the
knowledge base:
Or scroll down to browse knowledge base area (latest issues are

starred)
Also once subscribed and logged in there is a link at the bottom of

the home page is an area linked to the latest issues listed on the
website:
If unable to find a satisfactory answer in the knowledge base select

contact us to log a support ticket or email us at:
support@auditassistant.com
Also use support site for making suggestions and providing feedback
- this is most helpful
Our response time will depend on the urgency of the request - but
will normally range between immediately to the following day
While the help-desk or email is most reliable way to contact us in the

first instance if really urgent and we havent responded try calling us on
09 435 1454 or 021 169 4097.
Subscribe to receive monthly email updates - go to users tab, edit

personal details and tick subscribe to the Audit Assistant newsletter:
As a service to our users we have a section on our website called looking

for an auditor in your area?
June 2017 13


This has a brief description of requirements to be audited and a list of

firms in different locations with logo and link to websites
Contact us to be featured on this page
We also allow users to add our logo and link to their website -
contact us for details
Training
We are committed to the ongoing satisfaction of our users. To this end
we aim to provide best quality support and training:
Most firms are able to start using the software immediately, but find
training useful once they have a basic familiarity
We provide full in-house training for firms in NZ as required at fixed

cost regardless of location, overseas by negotiation
We also provide user-group training throughout NZ - where firms

come together by region for new user training and updates for
existing users
Content can be either basic training, which involves working through

all the main features over a two hour session, or looking at specific
issues relative to the firm of group for more experienced users
*TIP: Give us plenty of Our training is carried out face to face rather than by webinar as we
warning if training is see a much higher value in small-group, personal contact style
required to give us time training
to contact other firms in
the region Training is provided by Clive McKegg, director and one of the
founders of Audit Assistant, who is also a qualified CA with audit
experience in both large and small contexts
Training qualifies for CPD hours
We usually come to a city or region at the request of a user, but to

make trip more worthwhile we usually contact all the other users in
that area about whether they wish to participate in a training event
also (either joint or in-house)


Housekeeping
Sign-up, billing and service levels

Sign-up from the auditassistant.com pricing and signup page
(https://signup.auditassistant.com/signup) choose package and add-
ins if applicable:
Enter contact details - login name and password - a confirmation

email with invoice will be sent immediately
The person who signs up will become account owner and will be
able to add and remove other users
Account will be activated on payment
Payment must be made monthly in advance, for the first month

based on the minimum level of 20 jobs and thereafter on the
number of jobs being used at invoice date (subject to 20 job base
charge)
Preferred method is by direct debit - there is a link to download

form from account and billing page - a 3% discount is allowed
for direct debit
Cheque, credit card or direct credit to our bank account is also

acceptable but no discount is allowed for these methods due to
costs and extra administration required
Invoices are emailed automatically to account owner, or account

owner may also set up another user to receive invoices from
account and billing tab
Emails also have links to a CSV file containing a full report of

current jobs at invoice date, allowing firms to disburse these to
the client if required
The add-in for school audit content are available as an option if

firm is contracted to NZ Office of Auditor General
Account owner may go to account and billing tab to change add-

ins
Log-in
Access to the unique homepage/welcome page for each firm is from a
URL chosen on signup:
This consists of firm name (or abbreviation) followed by

.auditassistant.com
June 2017 15


Each firm has an account owner (usually the person signing up for
the account)
This person chooses the URL and their own username and password
They then set up further users, allocating them with a temporary

password that they may then reset themselves
In the example below the firm Demo and Associates has a shortened
URL https://demo.auditassistant.com
To log in, type the firm URL into browser - this will return a screen as
follows:
Enter username and password then click sign in or enter to access the
homepage
Each user should have their own unique login and password (see
users)
Multiple instances may be open at once say on dual screens, or on

more than one computer at a time (different jobs and/or even
different parts of the same job)
May copy and paste comments or attachments between jobs or pages

within jobs and drag and drop text or attachments to duplicate to
new location or create cross references
Any number of users may work on the same job at the same time as
all data is updated in real-time and tagged with the user name and
date of entry
Users
Users are those with unique logins who will carry out and review the
work (including external peer reviewers):


The account owner is the first user - they set up further users from
the users tab in the sidebar as above
By default the account owner will emailed monthly invoices and may
access billing information, but this may also be assigned to one other
user (for example an accounts payable person)
Each user is assigned a unique login name and password by the

account owner (who must then advise the user of these details) - their
work is then automatically tracked, dated and tagged with
abbreviated user name
A user may then change their own details (password and user name),
using their own users tab
If a user forgets their password or login details the account owner

may reset these for them (if the account owner forgets their details
they will need to contact our help-desk)
Only the account owner may change the role of users or delete users
When individual jobs are created the person creating the job is
automatically assigned to the job, and may assign other staff from the
users portion of the sidebar - allowing those assigned people to add
work to those jobs
Third parties (e.g. clients) are not normally set up as users but may
also have access to individual pages through the sharing system (see
sharing pages with third parties)
Only the account owner may delete users:
Before deleting a user ensure that all their jobs are complete and
rolled over (otherwise work that they have done will have no user
name assigned) - it is better in these cases to change their password
in the interim to deny access but leave their work history intact
June 2017 17


To delete edit the user from the users tab and select the delete button
at the bottom right
It is good practice to review the user lists at least every twelve

months to make sure list is current email addresses and other
contact details
Limited users and peer reviewers may only view jobs that they are
assigned to - other staff see all jobs but can only carry out work on jobs
that they are assigned to. Full user roles and levels of authority are as
follows:
Role Create View Create Carry Create Sign off

Jobs all jobs custom out Review jobs
pages work Notes
Limited User
Standard User
Manager
Partner
Peer Reviewer
Adding firm logos and letterhead

This option allows firms to customise the look of the software by
inserting their own logos and to create letters and documents with
letterhead graphics printed:
Only the account owner may add logos and letterhead
Go to account and billing click the custom graphics button - then tick
the items to be added and browse to the appropriate files:
The graphics will automatically resize to suit, however we suggest

that the firm logo and display logo should be in the range of 500 to
800 pixels wide


A higher resolution logo will look better (particularly on modern

retina screens and when printed) - we recommend .PNG format as
this usually provides the lowest file size for the sharpest images
Firm logo will now display on the login page, on the homepage and
on the top right of each page in the workbook
If used the letterhead graphic will be inserted at the top of each document
- if not displaying by default edit the document from the parent page -
tick use firm letterhead:
If documents are to be printed onto standard letterhead paper then do

not upload (see creating documents and reports)
Display letterhead on documents should be between 1000 and 2000

pixels wide, and it will be resized to fit the page, height should be no
more than a ratio of width to height of 8:1
Client creation and deletion

On the home page there is an option create a new job - click on the type
of job to be created to view the optional sub-types that are available - will
vary depending on the subscribed package(s):
New jobs may also be created by clicking on the list of types of jobs
(compliance etc.) in the sidebar - there is an option on each of these
pages for creating a new job
Enter client name
From choose job type area select specific template from options -
using descriptions to help choose
Enter year end date then press create client at the bottom of the
dialog box:
June 2017 19


A job may also be created by duplicating another job (see duplicate

and restore function)
All open jobs are charged for so if a client has left the firm we
suggest deleting the old job from the step at the bottom right of the
edit window (ensure that the PDF version of the completed job has
been made before deleting to keep for legal retention purposes)
If a deleted job is required to be reinstated from backup we can do

this for a nominal amount (currently $50/job)
All details may be edited later from the edit icon on the far right of
the client name on the client selection page
Once client jobs have been created all work on them is updated in real-
time (no save button is required):
Multiple jobs may be opened and updated concurrently as required
Jobs may be accessed concurrently by different users from different

locations
Client jobs are rolled over on completion, maintaining the previously

entered relevant data and creating a PDF of the completed year:
Prior year files are accessible from the client sidebar (retained in our
system for at least three years)


For long term storage (especially if not printing hard copy) a copy of
the rolled over file must be downloaded as a permanent record (see
rollover)
Links to standards
Much of the workflow is adapted from or lifted directly out of the
relevant auditing and assurance standards. To assist the auditor to delve
deeper into these standards if required there are numerous live links
providing cross references into the XRB or other relevant website here
for example to ISA (NZ) 300:
In many instances the references are more specific to a certain

paragraph within the standard say
*TIP: We try to keep the Within NZ the references default to NZ versions of the ISAs in
links up to date but from Australia they will link to ASA equivalents and in the rest of the
time to time these world they will link to IFAC equivalents
change if a link no
longer works or is out of Clicking the blue link will open the standard to allow the auditor to
date please let us know read the detail links open the whole standard on the rather than to
the specific clause
The links are provided for reference and ease of access to the
standard only no specific work is required to be done
To find the standards referenced within a particular job type, open

the templates option in the homepage sidebar, go to the job type
required then select the standards tab at the top:
To print a report of all the links within a particular job type and the
pages that they appear on there is a button at the bottom right called
export mapping report CSV click this to download the report as per
extract example below:
June 2017 21


Client selection
Opening an existing job may be done in a variety of ways:
The home/welcome page (see client creation) lists the last five active
jobs across all styles allowing quick access to these jobs click on
the job name to open
To access other jobs select the tab in the sidebar for the type of job
required (compliance audits, historical financial audits, review
engagements etc.)
The number after the job type in the sidebar tab indicates how many
current jobs there are in that job type
This view will default is to the list of current jobs - select archived or
all then browse to the job required
Current jobs are those personally assigned to the user that have been
accessed in the last 30 days
Archived jobs are those that have not been used in the last 30 days
archiving is automatic
Once an archived job is selected it will automatically become current
All shows all jobs of that type in the system (a limited user or a peer
reviewer will only see jobs that they are assigned to)
Alternatively, use the find clients box at the top of the left sidebar to
search all jobs over all job types by name - type name or part name -
then press enter
Alternatively, at bottom right there is a recently viewed clients pop-

up that shows the last 10 jobs accessed by the current user on that
computer - hover over the tab to activate
Other points to note about the client selection view:


The grey boxes after the client name indicate the template type used
for the job - this is also displayed in the sidebar when opening the
job
Client names, year end and template type may be edited by selecting
the pencil icon ( ) at the right-hand end of the client selection box
There is also a delete button at the bottom right of the edit dialog box
- unused client jobs should be deleted (after copies of PDFs have
been made) so as to not be charged for them unnecessarily (see client
creation and deletion)
The green box with down arrow icon at the right-hand end of the
client selection box is used to duplicate a client (see duplicate and
restore function)
Assigning users to a job

The account owner must first have added users at a global level (see
users):
When a new job is created the user creating it is automatically

assigned to the job as the first user - they may then allow other users
access from the sidebar
From the sidebar under users click edit and check those staff
members who are be assigned to the job (must already be set up as
users)
Assigned users may then carry out work on the jobs (prior to being
assigned they are read-only for standard users, partners and managers
and not visible to limited users and peer-reviewers):
The list may be edited at any stage by partner or manager
Audit templates require all users assigned to a job to confirm their

independence on the independence checklist page
Users may then be selected when questions request a contact name to

be inserted (say for person who will be signing off letters - to include
in official communications):
June 2017 23


Client duplicate and restore function

Jobs may be duplicated for the purpose of reusing parts in a new job - say
for a branch or very similar job where say the planning will be the same.
The same function is used for restoring jobs back to previous points in
cases where say pages have been mistakenly deleted or a wrong trial
balance has been imported, or even where a roll-over has been performed
prematurely:
Duplicate/restore is accessed from bottom icon at right end of client

box
It may be used in cases where a series of similar jobs exist (say a

series of branches) by setting up one job including say file structure
and planning then duplicating
May duplicate trial balance, comments, attachments, prior years,

revision history etc. by selecting or deselecting choose content
options (revision history includes the prior snapshots of that job)
The job may be renamed as the duplicate is created or the name may
be edited later:
Duplicate also contains options for recovery (say in case of

accidental page deletion etc.) to a prior point for rolling back from
what version would you like to use?


These versions are taken from snapshots that are created daily (at
2:00am NZ time) on days when work has been done on the file, plus
a snapshot is of the job is taken every time a page is deleted, and
prior to trial balance import and rollover prior to action in case
recovery is required:
Snapshots are retained in the system for twelve months to allow

recovery of lost data
To roll back duplicate all content, select which version required from
drop-down list and create the duplicate
Lost data may be copied out of the prior version (copy) into the later
version (by copying and pasting) then the duplicate may be deleted
Alternatively, if the duplicated prior version is to be used the later

version may be deleted (once confident that the duplicate version is
correct) and the copy renamed
Only duplicates still in existence at the monthly billing cycle date are
charged for, so make sure that temporary duplicates are removed as
soon as no longer required
June 2017 25


Performing work within Audit

Assistant
Index and Navigation

The index page appears when a job is opened. The index page shows all
the pages used in the file, including attachments and generated
documents and letters:
In addition the status of those pages is shown incomplete (red

arrow), concluded (green bar) and reviewed:
It is not compulsory for all pages to be marked reviewed but all pages
must be concluded before rollover
To view all available pages including those that have not yet been used
select view all available pages button at bottom right of index page -
(unused pages are in blue shading):
Clicking on the link - say Q1 here to open the inventory section - will
link to the parent page from where the target page may be created - in
the case above to the control page point 15.6
Follow the path to create the page and section - for example clicking
Q3 would link to A1 point 15.6 where the user could then create Q1,
then Q3 - pages cannot be created without creating their pathway via
other pages:


Every page has a top bar that allows direct access tabs to index, control,
trial balance, risks, points (management report), adjustments (audit error
schedule journals) and summary (audit summary information page):
Every page also contains page back and forward arrows on left and right
of screen to move consecutively through file - especially useful for
reviewing:
At the top left of the screen, the back to audit assistant home takes the
user back to client view/homepage:
Tabs at top right allow direct access to pages - hovering over section
shows drop-downs of pages available:
The progress bar in the sidebar shows the number of pages created and
completed opening the page indicates how many work items on each
page are outstanding:
When less that five items outstanding on a page these individual

items are displayed:
Using the Control Page (A1)

The control page provides a complete summary of the whole process,
branching into subpages via links to the more detailed parts of the client
workbook:
June 2017 27


The page forms a branching point for all the sections, and once these
sections are completed the conclusions from those pages
automatically update the control page
Guides users through planning, testing and finalisation processes
Each item asks users to answer multi-choice questions, yes/no

options, create sub-pages for further work
May select drop-down at lower right for other options (journals,

comments, review notes, follow-ups, management letter points, etc.)
Incomplete work items have red arrowhead warning at right - all

items must be addressed before conclusion of page is possible:
*TIP: Always work from

the control page as it
follows a logical
progression through the
job

When a sub-page is created work-items become the aim on the top of

the sub-page
Completed conclusions from sub-pages are sent back to parent page

and item on parent page reads as completed (green tick)
Review notes / follow ups created on a page must generally be

cleared prior to page conclusion (see more under review notes)
Brought forward items from prior year (indicated by green arrow

pointing down) may be adopted by clicking the green bring-forward
arrow then edited as required
Brought forward items from prior year that have not been adopted
disappear on conclusion as do completed follow- ups and review
notes (can still see history of reviews and follow-ups in sidebar)
Selecting conclude page tags the page as concluded and updates the
index with a green tick (see conclusions)
A review stamp is then available at the bottom of each page - adds

reviewers name and red tick in index (see review notes)


Client contacts
Early in a job it is a good practice to set up client contacts the people to
receive audit documentation, who will be required to complete checklists
shared with them and so on:
In the sidebar there is a button marked contacts - select add client

contact box to create additional contacts, entering role in
organization, and all relevant contact details:
To edit select the pencil icon at the top right of each client contact
box
Within the workbook there are a number of places where the details
of these contacts will be requested select the name from the
dropdown - for example:
Client details may also be entered directly at these points this will
also update the contacts list:
*TIP: New contacts may When the key contact person is entered into this section of the control
also be added at many page their details will appear in the sidebar as a quick reference for
points, but they may only phoning or emailing these contacts during the job:
be edited from the
sidebar client contacts
tool

June 2017 29


Creating documents and reports

Documents may be produced automatically for all kinds of letters (e.g.
engagement, confirmation requests), audit reports etc. Audit reports and
engagement letters are generally already customized for the type of job
used but may be further customized:
Areas on the documents hide or show depending on answers to

questions in the work papers, allowing for extensive variation
Documents are accessed as required from within work papers and are
populated by fields either drawn from firm (name and addresses etc.),
the client job (client name, year end etc.), fields completed as part of
the audit (relevant legislation, client contact names and addresses,
addressees etc.) or from data in tables
To create a document click on tab within work paper - in this case to

create an engagement letter:
Follow the link that is created
Following through the workflow means that when a document is

created most of the fields should be already filled:
All blue fields are linked to a variable - in most cases clicking the
blue field will link back to where the data was entered (and allow it
to be edited if required)
In cases of contact names addresses these are edited from the sidebar
contacts box


Any yellow fields may be edited directly on the page
To further edit the document click customise/edit at the lower right:
In this mode whole areas in letters may be edited by clicking the edit
icon at bottom right the section:
New areas may be added to a document by clicking the down arrow

icon, and areas may be reordered by dragging and dropping as
required
Where a date is automatically assigned (date of creation of

document) it may be refreshed to the current date from the work
item where the letter was created from - click the edit icon there, and
then save to update
At a client level changes made to documents will be retained for

future years deleting and recreating the document will reset back to
standard text
Firm-wide customising of document or creation of new documents is

possible (extra training is available for customisation)
To print documents use the print page (PDF) tab at the bottom right,
or use the browser print function (ctrl-P) if say margins need to be
edited
The whole document may also be copied and pasted into a word
processor for additional editing (to change font say there is no
option for alternative fonts)
Page orientation may be changed by editing from parent page - page

numbering may also be switched on or off, as can the ability to
include letterhead that has been uploaded or to switch the default
header on or off:
June 2017 31


For mail-merge documents (e.g. debtors circularisation) any changes

made to editing the letter will be reflected in all copies of the letter -
editing just one will require copying into a word processor
Documents are shown on the index page with a distinctive icon to

differentiate them from a normal attachment:
Adding deadlines
Deadlines are set at the planning stage to remind the auditor of progress
and to provide prompt when a job may be falling behind:
After clicking add deadline from the deadlines page (in the A
section) select from drop-down box the appropriate date:
The deadline description may be edited if required
The next deadline now shows in the sidebar:
Clicking on this sidebar button displays all deadlines and their status:


As deadlines are met the user ticks these off in page accessed from
the sidebar, and the next deadline status updates:
This status is also displayed on the home page, so a user may be

alerted to the next deadline at a glance:
When a deadline has not been met the date colour changes from
black to red to indicate a problem:
Sharing pages with third parties

Sharing pages allows secure real-time access to selected pages within a
client workbook as the auditor determines - for instance to invite a client
or other third party to attach documents or make a comment directly into
the software - for say completion of checklists, commenting on analytical
review results or completing systems notes:
Any page in a workbook apart from transactions testing and

documents pages may be shared and accessed by third party
Click share command in bottom right corner of page:
Names and email addresses of contacts already set up will be

available as auto-completes, if a person not in contacts may enter
manually:
Enter a message - this will appear on an email sent to the client:
June 2017 33


Click add to send the client an email includes message and a link
(token) to access that page to add comments and attachments
email looks like this:
When the client follows the link they see only the page shared plus
instructions on how to comment and add attachments
Client may interact with user (users sees what client is adding, and
client sees comments by user in real time could be speaking by
phone or Skype say while completing together)
Link stays open until the shared with message on top of the page is
deleted:
Client may open shared page any number of times using link in
email
A list of shared pages appears in sidebar:
As client adds comments or attachments these are tagged with name

and date - client cannot amend once page is concluded or once the
share link at the top of the page has been deleted


*TIP: Problems with access The same page may be shared with multiple people if required - they
by third parties commonly will see each others comments and attachments
result from them using out-
dated browsers or trying to
access via remote desktop In second and subsequent years the commenter will be able to see
prior year comments and attachments and bring forward and edit
these if required
Click edit on share link to see the message and to copy and paste
token for client access if there is a problem say with their spam filter
blocking the original email:
In subsequent years third parties can bring forward their previous

year comments or attachments, or simply ignore prior year response
and type in a new response and bring forward option will disappear
Trial balance import

Entering client draft trial balance data takes place at the planning stage
of the engagement:
This data is then inspected, sorted, grouped (see trial balance sorting
and sub-totals) and tagged for further work in terms of
risk/materiality
The data feeds through to the lead schedule pages, plus to analytical
review pages
Journal entries may be created against this for audit adjustments and
the adjusted amounts are displayed in the final column on the trial
balance page.
Note that trial balance data may be imported without budget and/or
prior year and account codes may be omitted if not required,
however if omitting account codes ensure that names of accounts are
all unique otherwise the first use of the name will be replaced by the
second and the trial balance will not balance
Trial balance data may be entered manually line-by-line however it is

much faster to upload directly from a file provided by the client as
follows:
June 2017 35


Trial balance data from client in Excel - MYOB AO
Below is a trial balance out of MYOB AO (using print trial balance - to

Excel file):
To the standard trial balance in Excel add a column to the right with
a heading called section then enter references to match appropriate
section code from trial balance page (e.g. G for income)
If no section column is used all accounts will be imported but need to

be sorted into the correct group after importing
When using section column anything uncoded will not be skipped

over and not imported so may use this to skip headings, subtotals or
irrelevant accounts or just delete these extra unwanted lines
As an alternative to using section column put sub-headings in trial

balance corresponding exactly to trial balance section names - must
be exact e.g. payroll for the I section (wages say will not be
recognised)
Trial balance data from client in Excel - Xero
Trial balance data may be imported directly from Xero by printing

the trial balance to Excel importing as is subheadings will be
recognised data will be sorted by these, however Xero subheadings
are not precise in terms of balance sheet items so extra sorting may
be required
Xero does not have the option to include prior year balances - may
need to be added manually (if first year of job)
A Xero trial balance in Excel can of course have a section column

added, or specific subheadings inserted as per MYOB instructions
Trial balance data from client in Excel/CSV Other
For other software that allows exporting a trial balance to

Excel/CSV, create the trial balance and amend headings to the


following code, name (or account), current (or instead of current

may have two columns called debit and credit), prior, budget
Using downloadable CSV template for trial balance data
If no suitable Excel/CSV trial balance is available from the client

then it is best to use our downloadable template
Select download import template file from import trial balance

dialog box:
The template has some basic instructions and an example line:
Type data in manually or copy and paste into template then save
file for importing
Importing Excel/CSV template
Go to import dialog on trial balance page and browse to Excel/CSV

file previously saved using choose file button
Ensure current file is displayed next to choose file button then click
add to complete import in the example below the file is trial
balance.xls:
The table at top of trial balance page should populate immediately -

if not there is a problem with the trial balance import file - check
headings and try again
June 2017 37


Data may be cleared using the clear all button in the import dialog
box and re-imported if required but remember that clear all will
also remove any prior year work, sub-headings or risk flagging so
should not be used in second and subsequent year
In most cases if a later trial balance is say provided by the client a

second import over the top will update the differences only and leave
any sorting and subtotalling already done intact
If a mistake is made in second year import rather than using clear all
it will be better to restore a duplicate from backup (see
duplicate/restore function)
Second and subsequent year trial balance import
In second and subsequent years it is not necessary to import prior

column as it will already be in there as a result of the roll over
process in this case delete the whole column including heading
In second and subsequent years do not use a section column as items

with identical account codes and names will automatically match to
prior year any new items will be listed at top of trial balance for
later sorting
Another option for second year imports is to download a copy of the

prior year trial balance in CSV format and use this as the starting
point for adding current year figures this download is done by
clicking the paper-clip icon next to the prior heading at the top of the
trial balance page:
Problems with trial balance import
The most common problem with importing is incorrect headings -

double check if not working - they must be on the same line and use
wording as described
If that doesnt work try deleting extra lines to the side of the right
hand column - any odd (and sometimes hidden) characters may
interfere with import
*TIP: If after following all
these steps a file still fails If the file is in Excel try saving as a CSV and importing Excel is a
to import then send a
more complex format and sometimes there can be hidden formatting
copy through to the
that should go away of saved as CSV
support site - we will
advise what is wrong and
If there are missing lines this may be due to duplicated names or
how to fix
duplicated account codes - these may lead to overwriting of each
other - all codes must be unique - in which case account names need


not be unique - but if code column is not used then all account names
must be unique
Trial balance sorting and sub-totals

Once imported the raw trial balance data should be in the correct section
(if section column or section names used on input see trial balance
import) if not it will need to be sorted as follows:
May drag and drop lines to change section or sequence from drag
handle that appears to the right when hovering over a line (only one
line at a time)
May also change the section by using edit option from dropdown that
appears to right while hovering over line
May drag headings from the bottom into position if required from
drag handle that appears on heading when hovering over it
Lines may be manually added, edited or deleted from drop-down box

that appears to the right when hovering over a line:
Once sorted the trial balance data may be subtotaled (e.g. total - GST
below):
Used to combine figures to match the trial balance amounts to the

draft financial statements or for totalling divisions or classes of
accounts
May create subtotals as required from add total option in drop-down

that appears when hovering over an account line
Individual accounts or subtotals may be flagged ( ) as risks for

further analysis (see risk identification and analysis)
June 2017 39


Subtotals may be moved by dragging and dropping into different

places from drag handle that appears whole hovering over them -
total will update
Subtotals calculate on lines above them up to section heading or to

another sub-total - only one level of totals may be created
Subtotals created in one year are maintained for future years after
roll-over and may be further edited or deleted as required
Once the required section lead schedules are created from A1

evidential testing area subtotals are automatically transferred onto
these (with line data) from trial balance page
Risk identification and analysis

Risk assessment is foremost a planning device whereby the focus of the
audit work is brought to bear on the highest risk areas. Items in the trial
balance identified as potential risk areas are be flagged as risks by
clicking on the yellow star icon to right of each line:
Individual accounts and/or subtotals may be flagged as risk items
Items tagged in this way are sent to the risk analysis, strategy and
plan page for risk analysis
Risks may also be flagged from a comment made on any work item (for
instance a systems note or an internal controls checklist where a risk
issue is identified) for example from systems notes as below:
Sometimes risks may be identified after planning is completed - this

will mean that planning must be revisited and perhaps revised, and
the risk analysis, strategy and plan page may need to be unconcluded
and updated
Every flagged item will appear on the page in the E section: risk analysis,
strategy and plan - there it will require either a detailed analysis or a


comment, depending on the seriousness and complexity of the risk - here

we have a significant risk to analyse identified in the trial balance:
A description of the risk identified is entered
The risk level is identified: low, medium, high or significant - a

significant risk opens a further level of analysis
Possible tests to reduce or eliminate the risk are proposed
The risk data may also be sent to any other work paper (shown at the
top of the target page) using select target work paper (optional) for
example if a risk may impact on the audit report it could be sent to
the top of the audit report work paper in the Z section
This information will be visible wherever the data is displayed along with
any other work done on the item (say in the analytical review section)
on lead schedules or other pages where the data is referenced:
Here on the G1 lead schedule all the risk assessment work is shown
to prompt the auditor to carry out the specific testing identified at risk
assessment:
Data on lead schedules may be reduced to show just flagged items by

clicking the star flag at the top of the table
All risks identified as high or significant are also carried onto the audit
summary information page in the reporting section of the audit file:
Here the auditor must summarise the outcome of the response made
to the risk, so that the partner may assess this as part of their overall
review:
June 2017 41


Materiality assessment
Materiality is assessed after the trial balance has been loaded, and
normally it is best to determine this prior to risk identification.
The materiality page draws data from the trial balance to display a
range of values for revenue, expenditure, assets and excess income
over expenditure
These ranges are suggestions only and drawn from common practice
the final assessment is entirely up to the auditor exercising their
professional judgement and their knowledge of the client:
*TIP: Performance
materiality is used for
transaction sample selection
setting it too low will lead
to over -auditing
The user is asked to explain the rationale for their decision
The user is also asked to assess a level for performance materiality

there may be different levels of performance materiality for different
balances or classes of transaction if required
A level for trivial misstatements must also be identified
These fields are then displayed in the sidebar:


Analytical review
Analytical review is carried out at the planning stage to identify trends
and areas of risk or possible misstatement. A further assessment may be
made at the end of the job after adjustments have been made if required:
Amounts are compared on difference and percentage basis, or ratio

or gross percentage depending on analysis
Analytical review pages pull in figures from the trial balance data -
current, prior, difference and percentage columns automatically
In the case of trading analysis or ratio analysis specific account lines

or subtotals are selected from the trial balance as required
Comments, key issues, journals, management letter points, review

notes, attachments and follow ups may be added to any item in the
analytical review tables:
Analytical review pages may be shared with client for comment (see
sharing)
May create more than one version of a some pages - say trading a/c
division 1 and trading a/c division 2 - edit pages to rename as
required (respawning pages)
Preliminary analytical review (C section) uses draft column of trial

balance
Final analytical review (X section) uses final (adjusted) column of

trial balance
June 2017 43


Transactions testing and sampling
Overview
Sampling and testing of that sample is used in the planning area and also
in the evidential testing areas (planning for tests of controls in the
internal controls section and substantive testing in the evidential testing
area - say testing a sample of payments). The style of tests is similar in
each place:
Sampling may be judgemental, created using the firms own internal

policies (describe in rationale for sample selection)
Or in substantive testing areas the sample size may obtained using

optional sampling tool, based on performance materiality for that
area of the audit
Testing page creation
Testing pages are subpages of normal work papers created on an as-

required basis. For example here from on a page in the internal controls
planning area:
Selecting reliance to be placed on internal control(s), test control(s)

option will create a further workpaper (B4 in this case):
These testing pages are usually respawners - in other words the

dialog box stays available allowing multiple versions of the testing
pages with their own testing tables to be created for say, different
types of revenue
When using multiple versions of a testing page in the same section

use different names be used to differentiate the pages as they will
both be referenced with the same number in the index - rename say
by division:


On the subpage (detailed testing page) enter the details requested to

describe the test to be carries out, and select the tests required:
In the substantive testing area the detailed testing page will include the
option to select from the drop-down the account(s) or sub-total(s) from
the trial balance to be included in the tests on this page in this case for
substantive testing in the expenditure section:
Tests are selected to a be applied against the sample from the options
in the drop-down or custom tests may be created using the other test
icon:
Next the sample size and rationale for this decision is required - may
be stated by way of narrative or in the substantive testing sections
there is an optional sampling tool to help the user to create a
sampling interval based on the population, materiality and sampling
confidence level:
June 2017 45


Following through the checklist will produce a report showing how many
tests will be required and generating a random starting point for running
the sample:
The sample itself is then obtained by creating a spreadsheet of the

complete data set, making a running total column, then stepping
through that running total starting from the random number
generated ($2355 in example above), then adding the sampling
interval ($4000 in example above) which should give the number of
test items required (21 in example above)
This spreadsheet may then be filtered down a table containing just

the test items ready to be imported into the testing table like this:
Setting up testing table
Testing tables are like enhanced spreadsheets. They differ from normal
work papers in that the do not use conclusions, and they cannot be
shared:
From testing pages a testing table is created:
Preselected columns are included:
These columns may be edited and added to from the parent page:


The data columns should correspond with the data being imported
from the sample above either change the import sample to suit the
columns or change the columns to match the import
There is a limit to the number of columns depending on the fit on the

page - for extra width landscape may be selected from drop down
data columns may be added from the please select dropdown,
removed or moved
Data entry and testing
Once tables are ready with data columns and tests, data is added and
testing begins. Exception reporting is utilised, with only incomplete items
or deviations being reported back to the parent page:
Transactions may be added manually or imported into a testing grid
To enter manually go to table and click add to enter data line by line
Or import from the Excel/CSV already created - no headings are

required as these should correspond to the table set up
On the table chose import and browse to Excel/CSV file created:
Save to display table ready for testing process:
June 2017 47


Click pending tests to display test then complete each test specified:
Comments may be added to explain any deviations extra comments

may also be added once item has been saved (from dropdown box at
right)
Attachments may also be added (once item has been saved) from the
dropdown box at right (such as scanned copies of the items being
tested):
Cross references may be made from tables - to any other page or

attachment or document or table in the workbook - to do this add a
comment to the row to see the familiar cross reference selection at
the bottom
Amount columns in tables show totals total number of samples and

total value of sampled items:


The clear all button removes all transactions - or individual

transactions may be edited or removed from the edit icon on the left
of the sample item line
The sequence of transactions may be changed by dragging and

dropping the edit icon
Tables show in the index with a unique icon ( )
The number of deviations and pending tests are shown on detailed

testing page (where table branches):
Management points may be created from detailed testing page (not

from table itself yet)
Results are analysed on the detailed testing page assessing the

nature and cause of deviations and misstatements, projecting these
into the sample, considering extending testing or further risk
assessment required and evaluating results in terms of whether goals
of testing reached
Tables are also used to create mail-merged documents e.g. debtors

circularisation and non-monetary testing such as minutes review
Journal entries (audit adjustments)

Once the trial balance items are loaded they populate the draft column
on the trial balance page in the A section. Any errors/audit adjustments
found during the work are entered as journal entries from the drop-down
box at bottom right of every work item or displayed account line by
selecting journal entry tab:
The please select drop-down shows all accounts in the trial balance
Select accounts to be adjusted and amount use negatives for credits

- cents may be included if required
Unlimited lines may be added to the journal entry:
June 2017 49


If an account is not yet in the trial balance select add account from
drop down in the within section where the new account is required
Add narration to describe the nature of the error or for instances of

non-monetary adjustments (such as disclosure errors) may just add
narration only and no account amounts:
Check total indicates if journal is in balance it is not required that

journals must balance to allow for instances where one-sided
journals may be required
All journals are accumulated on the adjustments page W1 (this page may
also be accessed from adjustments tab in top bar) the adjustment
displays on the adjustments page as follows:
New adjustments default to pending status
A follow up may be added indicating the status of the error prior to

agreement being reached over adjustment journals with follow ups
added may be printed as a client report (see below)
Once adjusted by client in financial statements they are marked as

posted by selecting post journal
This changes the status to adjusted:


If journal not to be adjusted in the financial statements a comment

must be added as to why not it will then be classed as an
unadjusted error
A summary at the top of the adjustment page represents the combined

effect of pending, adjusted and unadjusted entries on income, expenses,
assets, liabilities and profit:
Once posted the journal updates the trial balance final column
indicated by changing to green colour
Posted adjustments also carry through to lead schedules
Final analytical review amounts include posted adjustments - but

analytical review in the planning area continues to use the draft
figures imported from client trial balance
The adjustments page also contains an option to print reports for giving
to client:
Only commented items (explaining why not posted) show in

unadjusted part of report (not pending items)
These reports are normally used to accompany the management

report and/or representation letter
Management report points

Management report points they may be created at any work item (any
question or task on a work paper) and also from any account line within a
table of trial balance data anywhere in the workbook:
To create a point click drop down dialog at right end of all work
items and trial balance lines and select management point:
June 2017 51


This adds a point on the management report page (in the Y section)
page also accessed from the points tab:
Add comment on management report page to indicate how points

have been/are to be resolved


Then choose which points to include in the final management letter

document, either by copying and pasting or rewording into
appropriate language including reference to discussions concerning
the points raised
Where management letter document has yellow spaces to type or

paste specific points to be included
Other text in management letter document may also be edited refer

to documents and letters
Adding an attachment
Users may attach into the workbook any audit evidence or supporting
work papers such as scanned documents, PDF, Excel, Word, photos or
audio/video files at the appropriate audit steps to achieve fully paperless
files if desired:
Select attachment button from the options from the drop-down box at
the end of any work item
Click choose file and navigate to the location where the location of
the file
Display name may be different from the default name of the

attachment file - if left blank display name defaults to the file name:
Click add and file is uploaded - it will then be accessed from

hyperlink created
Optionally an attachment may be added by drag and drop onto work

item from file manager
Referencing is automatic -based on the page and work-item number

attachments display in the index as follows:
If hard copy files are to used (for a printed file that does not require
audit evidence to uploaded) select hard-copy document box to create
a placeholder in the index
June 2017 53


To create links to attachments in other parts of the workbook open

both original page and target page and drag and drop attachments
within file - this creates a duplicate path to the file (say files uploaded
by client in items required for audit page that are needed elsewhere
in the file)
All attachments uploaded may be viewed by clicking on attachments link

in sidebar:
To delete an attachment, click edit icon next to attachment download,

and click delete icon at bottom right
To replace an attached file, click the edit icon on the attachment,

click the replace file button, then upload the new file the old file
will be deleted
To amend an attached file (say an Excel spreadsheet comparing

several years data that is to be updated), download the attachment by
clicking the link, make the changes then use replace file button to re-
attach, replacing previous version
The name of the attachment may also be amended from the

attachment dialog box once edit is selected
There is no limit to the number or size of attachments that may be

added, but be aware that these attachments will affect the size of the
final PDF audit file and very large files may take some time to roll
over so choose smaller versions of files if possible
Cross-references may be made to attachments from comments by editing

the comment and selecting the attachment name from the drop-down list:
Attachments may be accessed by a reviewer, may be carried forward

for future years and they are attached into the rolled over PDF
version of the job
Where a paperless file is not required, there is also scope for adding a
placeholder in the index for items physically filed in the hard-copy audit
file:


In this case, type the name of the work paper in the attachment
box then tick the hard-copy document check-box and select add
to create
The reference will again show on the index referenced with the
work-item on the parent page in this case C2, 1.1:
The index icon for the hard copy attachment displays differently
to an uploaded attachment as an empty page rather than with a
paperclip included
Third party users may also add attachments where the auditor
has shared a page for gathering information for the audit
Adding a comment
Comment boxes are utilised where text-based answers are required. With
multi-choice or yes/no answers narrative may also be added through
adding optional comments:
Comments may be added to default comment boxes or extra comment

boxes may be accessed from the drop-down arrow at end of each
work-item in the example below instead of answering Yes or No the
drop-down box is selected to reveal space for a comment:
To enter n/a in a comment box click the ( ) icon on right (also enter
n/a using the esc key on any comment box)
June 2017 55


To make a paragraph within a comment box or a conclusion use

shift+enter
When completing a series of comment boxes use enter key after

completing comment to save and move to the next comment box
May add multiple comments to work items by reselecting drop-down

box
Text may be drag and dropped into a comment box from elsewhere
or use copy and paste
A cross reference to another work paper or to referenced attachment may

be added to a comment:
The work item will display a link to the target work paper, but no
link is shown on that work paper if required create a second
reference back from that page:
A work item is treated as complete once it has received at least one

comment it receives a green tick all items on a page must show a
tick before a page may be concluded
Adding a key issue

A key issue may be created from the drop down dialogue that end of each
work item:
The key issue is used for identifying issues that are especially
relevant to the audit especially what are now identified as key audit
matters warranting special mention in audit reports


A key issue is automatically flagged as a risk requiring analysis
A key issue may also be sent to the top of any other page in the client
workbook using select target work paper at the bottom of the key
issue dialog box
Any key issue created will appear on the audit summary information
page along with high risks and significant risks along with a text
box that must be completed indicating how the key issue was dealt
with:
Adding a follow up
A follow up is a quick way to create a bookmark of something the auditor
wishes to highlight for further attention:
Does not form part of the final audit file, but ensures easy method of
tagging unfinished items for follow up
Entered from follow up tab accessed from drop-down on right side of

work items
All follow up items are listed under follow up box in the sidebar
Other people may answer - the box changes colour when someone
else comments to indicate a response
June 2017 57


Or user may answer their own follow up or simply tick as

completed when addressed
Follow ups show greyed-out once ticked as completed - they

disappear altogether once page is concluded so ensure all detail
addressing the issue is entered on page (not in the follow up itself)
Page cannot be completed until follow ups are cleared (unless the
follow up has been created on conclusion box)
Follow ups may be created on a conclusion box after it has been

concluded if necessary - so that the job may continue without un-
concluding (for non-essential items) see conclusions and review
notes
Conclusions
Once a page is completed and all items have green ticks, a conclusion
box appears at the bottom of the page:
The default conclusion is a suggestion only it may be edited,

deleted or replaced simply by adding or removing text:
Like a comment box, paragraphs breaks may be added using

shift+enter selecting enter only is equivalent to using the conclude
page button
Once concluded, the date of conclusion and identity of the user

concluding the page is added:
On the index page, a concluded page is indicated by a green line:
A dropdown box appears at the end of the conclusion allowing for

extra items to be added:


Once concluded a page is locked, so to edit a page for some reason it

must first be unconcluded the first option in the dropdown
The page may also be marked as reviewed also accomplished by

clicking the red tick only a user with partner or manager status has
this option (see also review notes)
In addition, comments, follow up items and review notes may be

added without unconcluding the page - used where the user or
reviewer wishes to add something that does not require the page to be
unconcluded but just to add a note such as training instructions
When a page is unconcluded then reconcluded these details are

recorded to provide a history of the page explaining to a reviewer
perhaps that a planning section was concluded earlier then revisited
at a later date:
Review notes
Creating a review note is very much like creating a follow up, but in
this case a reviewer creates them:
The reviewer is a user (manager, partner or peer reviewer) who is

assigned to the job and logged in - but another staff member
(standard or limited user) may reply
Reviewing may take place concurrently with work being

performed as it is done online and from any location where there
June 2017 59


is internet access any number of users may be concurrently

working on a job in real time
May be added to any line item before a page is concluded and

may be added to conclusion on pages already concluded (see
conclusions)
Once addressed they may be ticked as completed this changes

note to crossed out and greyed out
Once page is concluded review notes within the body of the page
disappear so ensure all detail addressing the issue is entered on
page - review notes do not form part of the final audit file
Page cannot be concluded until reviews in body of page are

cleared
May be created post-conclusion if necessary - so that the job may

continue (non-essential items such as training-related
instructions)
Review notes are listed in the side bar which also displays how
many review notes are incomplete:
For a concluded page use review stamp ( ) to enter reviewed by

(click on red tick) - also appears in index:
Annual rollover
At the completion of work (after signing off A1 page) an annual rollover
dialog box appears in the sidebar:


Click rollover and generate PDF to start a new year afresh with
conclusions deleted and current year data moved to prior
The client will be locked while the rollover is completed - usually no

more than a couple of minutes at most other jobs may be opened
while this is happening
Rollover should be carried out as soon as possible after job is

completed - preferably at about the same time the A1 page is
finalised and the audit report is signed, but an audit job must be
finalised within 60 days of sign off (60 days allows time for tidying
up file, completing management letter etc.)
*TIP: it is critical that a copy The rollover produces a PDF version of the completed year, a copy
of this file also be saved to is kept at the bottom of the sidebar:
the auditors backup system
right click on link and
download
Attachments are stitched into PDF file if printing is required

attachments they must be printed separately using the appropriate
program (Word, Excel etc.) - click on the links and the attachment
will open
As a reminder the deadline on the client page then starts to counts

down to 60 day deadline to finalise file
Rolled over job includes all comments and attachments as prior year
(greyed out)
In new year attachments, comments, risks etc. are all able to be

brought forward by clicking the green bring-forward arrow:
After bringing comments forward they may be edited the user

name and date will be updated
Bring-forward arrows may be ignored they do not need to be

deleted as on conclusion of the page they will be removed anyway
Trial balance is moved from current to prior - section classifications

and sub-totals are maintained
New year trial balance may now be imported (see second and
subsequent year trial balance import)
June 2017 61


Printing options
Printing is optional. Many firms only keep paper copies of minimal
documentation such as final signed account and perhaps the engagement
letter. However if required the completed PDF may be printed in full, or
individual pages may be printed. Many firms are opting for paperless
with all attachments uploaded so no printed file is required.
If printing we suggest waiting until the entire job is finished and then
printing all pages at once to ensure all pages are complete
Pages may be printed individually if required from the print

command (tab at the bottom right of each page)
A job may also be printed to PDF at any stage if required from the
print/export client (PDF) command in the sidebar
Pages from outside the workbook (for instance review notes and
follow ups) are not included in the final audit file but may be printed
if required using the browser print (ctrl+p) function
Contact details
Contact Audit Assistant at:

clive@auditassistant.com (sales, training, first-line support)
matt@auditassistant.com (technical support)
Postal: PO Box 1498, Whangarei 0140
Phone: 09 435 1454 (Office)
Cell: 021 1694097 (Clive)
021 238 1622 (Matt)
http://auditassistant.com/
http://support.auditassistant.com/

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Audit Assistant User Handbook

2 Audit Assistant Ltd, 2017

Journal entries (audit adjustments) 49

Audit Assistant was conceived in the late 1990s when Chartered

We partner with reputable providers and consultants to provide the best

4 Audit Assistant Ltd, 2017

What is Audit Assistant?

Based on International Auditing Standards, plus review, compliance

Includes letters and documents appropriate to job (engagement

Import of client trial balance and transactions data for testing

Paperless option all documents may be uploaded/attached - or may

Export of completed job to PDF for archiving

Rollover feature to minimise repetition in future periods

User customisability if required (additional training available)

Secure access via SSL/TLS protocols and full secure backup

A platform for a wide diversity of compliance, review, assurance,

Why use this technology?

Trend for firms towards multi-site and flex-working to utilise

Issues of security and disaster recovery - our offshore backup storage

Move to paperless office environments

Requirement for peer review/ quality control - often from another

Developments in web/cloud technology that now allow web-based

The potential of running a professional practice without expensive

Trend to software as a service (SaaS) over ownership as a more

Software that is continually updated and serviced rather than

Struggle for smaller firms to stay competitive with greater demands

Higher risk environment for auditors requiring a more standardised

ISAs require a much higher level of documentation - best provided

6 Audit Assistant Ltd, 2017

Historical Financial Audits

New audit reporting standards were introduced in 2016 requiring an

SPFR for Non-Profits Audits (2016 updates) - for historical financial

Tier 1 & 2 Audit (2016 updates) - for historical financial audits

Tier 3 PBE Audit (2016 updates) - for historical financial audits

Tier 4 PBE Audit (2016 updates) - for historical financial audits

Historical Financial Audit - Schools - for historical financial audits

Base Audit - for historical financial audits to be completed in

Tier 3 PBE Audit - for historical financial audits to be completed in

Tier 4 PBE Audit - for historical financial audits to be completed in

GPFS Audit - for historical financial audits to be completed in

IFRS Audit - for historical financial audits to be completed in

Compliance Engagement - Base version - for the audit of compliance

Compliance Engagement - Real Estate Trust Account - for the audit

Compliance Engagement - PTE Trust Audits - For use in the audit of

Compliance Engagement - Body Corp - For use in the audit of

8 Audit Assistant Ltd, 2017

Review - ISRE (NZ) 2400 - Based on standard: Review of Historical

Review - ISRE (NZ) 2400 - Tier 3 PBE - standard review template

Review - ISRE (NZ) 2400 - Tier 4 PBE - standard review template

File Transfer Portal - to be used for the transfer of files between

Financial Reporting Regime Testing Tool A tool to test whether

We periodically update our templates to meet the requirements of the

Sometimes updates are made within an existing template (which only

All of the templates above may be user-customised and users may

We are also open to collaboration with other content developers who

Biometric & RFID security systems ensuring authorised access

24/7 camera monitoring of facility entrances and server rooms

Multiple HVAC units produce a climate controlled environment and

Redundant parallel UPS and auto-start backup generator with

Redundant A+B power distribution units (PDU) ensuring continuous

Modern fire detection & suppression system

Exhaustive backup processes in off-site location

Run using transport layer security (TLS) to provide a secure protocol

10 Audit Assistant Ltd, 2017