Stay up to date with International Standards
New Zealand is the first country in the world to adopt a full suite of International Auditing Standards. This means that Audit Assistant will fit very well into an International context with only a small amount of localisation required.
Audit Assistant is based around NZ versions of International Auditing Standards (ISA (NZ)), Review Engagement Standards (RS-1 & RG-1), Assurance Standards (SAE 3100) and Compilation Standards (SES). Content may be updated by the user or by Audit Assistant on user feedback or as new standards come on stream.
We have also utilised the expertise of Thomson Reuters by incorporating their Financial Disclosures Templates as an optional extra into "Standard" accounts and above. This means that checklists incorporating NZIFRS are integrated into the work-file.
Links to Online Standards
Work-papers are linked to online copies of Standards.
Audit Assistant also contains checklists for Financial Reporting Standards. Checklists are comprehensive and cross-referenced to the standard with on-line links via NZICA website.
Updated Content
New content and/or features is added without the need to reinstall or update the software in any way. As new standards are released or updated, users are notified on the specific page that a new version is available and why. The user may preview, chose to adopt or maintain the current version.
We are also continually adding new content based on feedback from users and submitted ideas. We encourage user input and see Audit Assistant as a collaborative project, where we supply the platform and basic content but users are encouraged to participate.
Flexibility
Work-books are configured so that work flows through the requirements of the Standards in a logical, intuitive manner. Content is entirely flexible depending on the scale and complexity of the job.
Pages are provided for every Auditing Standard. Custom templates have been created for specific types of jobs. Users may create their own or customise existing work-papers (training is provided on request).
Work-papers have been recently revised and now include:
- Comprehensive ISA (NZ) suitable for all large audits
- Small non-group entity ISA (NZ) suitable for small audits
- Review Engagements in terms of RG-1 and RS-1
- Compilation Engagements in terms of SES-2
- Real Estate Trust Account audits in terms of SEA 3100
- PTE Trust Account audits in terms of SEA 3100
- Compliance Assurance engagements in terms of SEA 3100
- School audits (for firms contracted with the Office of the NZ Auditor General).
For firms on "Standard" plan or above (over 75 jobs) there is the option to also subscribe to Brookers Financial Disclosures Templates which may be integrated into any of the jobs above.