Organise and test client data

With Audit Assistant client trial balance data is able to be imported from most software or entered manually.

Client Trial Balance Import

First the client trial balance data is saved as an Excel/CSV file then the file is imported into Audit Assistant, or manually entered or edited if required. This Import may include account codes and budgets which are then available for building up to draft financial statements, generating lead schedules, creating journal adjustments or pulling into analytical review work-papers. Items may be pre-mapped to the corresponding sections in the audit file (Income, Expenditure etc).

Sorting Data/ subtotals

Data may be further sorted by dragging and dropping headings into the trial balance or dragging and dropping individual accounts into the relevant section.

After sorting Lead Schedules are generated for the relevant section for which data exists. The relevant section of the trial balance appears on the lead schedule.

Sub-totals may be entered at any point in the Trial Balance to match the draft Financial Statements or for analytical purposes.

Items may be dragged and dropped between sub-totaled areas and subtotals re-calculate automatically - ideal for checking build-up of financial statements.

Transactions Data Import

Data may also be imported for transactions testing. If the client's cash-book, invoice register, journal, wage records may be obtained in Excel/CSV. Samples may be created using Excel's filter or statistical features or simply by copying and pasting to create your own judgmental sample . This sample is them imported.

Testing steps are created based on key controls or identified risks and a table is automatically generated.

Other Work Items

Attachments may be added to any work item (including PDF's, scanned documents, digital photographs and Word and Excel documents.

Management Points may be created on any work item. These accumulate on one page for preparing report to management at the end of the job.

Journal Entries and Non-Monetary adjustments may be added to any work item. These accumulate on one page under a 'pending' section ready to be reviewed. Once they are approved one tick moves them to an 'adjusted' area. The trial balance is then updated.

Follow-ups may also be added from any work item. These are internal only and do not form part of the final work-book. They must be cleared however before a page will conclude.

Key Issues (significant risks) may be created from any work item. These are transferred to the Audit Strategy page for and optionally to relevant work-papers so that the audit work is focussed on these issues.