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Audit International 26.1 Release Notes

Published:  13/11/2024

What's New | Audit International 26.1

1. Caseware Working Papers 2024 

1.1. Features 

1.1.1 Protection setup 

Split the existing Set Protection On/Off group right into Set Protection On and Set Protection Off. This can be used to expand the number of users that can enable file protection without giving them the ability to disable it. 

 


1.1.2 History log 

Added an option to display document insertion events in the file history log. 

A screenshot of a computer Description automatically generated 

 

1.1.3 Lockdown 

Added an option to the Engagement Lockdown Wizard to set all content in a file’s directory to read-only after lockdown. This read-only mode also applies to any sync copies of the file. 

A screenshot of a lockdown wizard Description automatically generated 

 

1.1.4 Annotations 

The Annotation column is now visible in trial balance automatic documents using the Consolidated view. 

A screenshot of a computer Description automatically generated 

 

1.2 Fixes 

This release includes fixes to the following issues: 

  • Added a more informative error dialog when attempting to open a compressed file that contains documents with file paths exceeding 260 characters. 

  • Attempting to access a computer’s system drive through CaseView causes CaseView to close unexpectedly. 

  • After performing a silent upgrade to a newer version of Working Papers, the older version is uninstalled, but the shortcut folder remains in the Windows 10 Start menu. 

 

2. Universal 

2.1 Features 

2.1.1 Financial statement areas worksheet 

Added a warning message when you attempt to delete an assertion associated with significant risks in the FSA. 

A screenshot of a computer Description automatically generated 

2.1.2 Easy Integrate 

Easy Integrate performs procedures executed from the CaseView document Easy Integrate in Caseware Working Papers on the standardised data tables created by Easy Convert and insert the results tables prepared by Caseware IDEA® into the linked Caseware Working Papers file. 


2.1.3. Client inquiries 

Client Inquiries is a client collaboration app that makes it possible for firms and individual engagement teams to securely communicate with clients and manage requests smoothly. Powered by Caseware Cloud, Client Inquiries is always available from any location, on any device, at any time. 


2.1.4 Other 

  • Engagement file metadata now includes version information. This improves the efficiency of Caseware Cloud and the Batch Tool when determining whether engagement files require updates. 

  • Improved the template update process so that engagement files no longer appear to be read-only unless at least one file is not SmartSync-safe. 

  • We have removed Q. This decision was made to improve the overall performance of your files. Q will be replaced by Sherlock, our new and improved tool, which offers enhanced features and better performance. By removing Q, you will notice that your engagement files will close faster, streamlining your workflow and improving efficiency. 

 

2.2 Fixes 

This release includes fixes to the following issues: 

  • Attempting to reinsert deleted manual documents using the AOCR results in a script error. This error does not occur if the documents are reinserted using the Document Library. 

  • Account annotations do not appear after being added to an audit area. 

  • After cleaning up an engagement file, certain sub-procedures no longer sign off automatically, and if you sign off the sub-procedures manually, the result column disappears. 

  • After enabling the Override procedure response type option and closing the Edit procedure dialog, the option is immediately disabled. 

  • Deleting all procedures from a group does not delete the group itself. 

  • Imported controls do not import any linked procedures. This issue does not occur when importing risks or reportable items. 

  • Reportable items that are linked to either a risk or control from Working Papers cause the association to appear duplicated in the dialog. 

  • Renamed headers in the Risk report and Report menu are not renamed in the document filter. 

  • Filtering the Control design/implementation document using the Assertions drop-down results in a blank report. 

  • Attempting to import more than 30 risks into a work program or checklist results in an unknown error. 

  • Checking for updates in forms with signed-off procedures incorrectly increments the form's content version, preventing it from receiving further updates. 

  • When performing an engagement update, the Update All option does not apply some of the selected options from AO - General options, for example, Select all updated documents by default. 

  • After performing a template update, the selected option in the Planning drop-down menu of the FSA worksheet is reset. 

  • Incrementing the content version of a template document and then updating the client file does not bring the prerequisite settings from the template into the client file. 

  • After performing a template or engagement update, CaseView documents take a longer time to open than usual. 

  • After performing a "functionality only" engagement update from 23.00 to a newer version, the Working Papers file version still shows 23.00. 

 

3. Audit content 

3.1 Caseware International 

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. 

3.1.1 Overview 

This version of Audit International includes the changes and new requirements in ISA 600 (Revised), Special Considerations - Audits of Group Financial Statements (Including the Work of Component Auditors), which are intended to strengthen the auditor’s responsibilities related to group audits. Additionally, documents listed in this summary have been enhanced to provide more user-friendly content to streamline the audit workflow, because of feedback provided by users and practice reviewers/regulators. 

3.1.2 New forms 

  • Form 420.600 - Group audit - component materiality 

  • Form 421.600 - Component balances (new automatic document) 

  • Form 422 - Worksheet - Selecting a component audit 

  • Form 535 - Financial reporting 

  • Form 590.600 - Engagement scoping - Components 

  • Form 5200 - Letter to component auditor 

  • Form 5201 - Instructions for a component auditor 

  • Form 622 - Worksheet - Evaluating the work of a component auditor 

  • Form 635 - Financial reporting - Audit procedures 

  • Form 310-1 - Checklist - Partner acknowledgement 

  • Form 340 – Worksheet – Matters to be communicated to management and those charged with governance 

  • Form 340-1 – Communications to be made by the auditor with those charged with governance 

 

3.1.3 Changes to profiles 

Profiles 11-13 (i.e. Previous OneForm+, Previous Core and Previous Tailor per engagement) have been removed. Any client files created using profiles 11-13 will not update during the update process. If you used any of these previous profiles in the prior year, we recommend that you create a new client file with the applicable modern profiles. 


3.1.4 Changes to the Dashboard 

We have renamed the Control Design section under the Planning and Risk Assessment widget to Understanding System of Internal Control. As this change is made in the layout, it will apply to any files using the layout after the update is applied to the master template. 

We have renamed the Control Design folder on the Document Manager to Understanding System of Internal Control to match the changes to the layout. 


3.1.5 Content updates 

Form numbers 

Description 

Engagement file setup 

400. 

Recreated 2 procedures. (Note: We have deleted the procedure and readded it as “NEW” to remove the procedure conditions.) 

Major changes to 6 procedures. 

Minor changes to 6 procedures. 

Deleted 2 procedures. 

400-1. 

Major changes to 4 procedures. 

Minor changes to 2 procedures. 

Deleted 1 procedure. 

400-2. 

Added 2 new procedures. 

Major changes to 4 procedures. 

Minor changes to 5 procedures. 

Deleted 1 procedure. 

Audit 

ONEFORM. 

Replaced previous ISA 600 content with ISA 600 (Revised) documentation requirements. 

ONEFORMX. DELETED 

Deleted Form ONEFORMX. relating to the previous profiles. 

Planning 

405. 

Added 2 new procedures. 

Major changes to 6 procedures. 

Minor changes to 3 procedures. 

Deleted 1 procedure. 

Updated document guidance and conclusion. 

415. 

Added dynamic text of group and non-consolidated terms. 

Added 1 new paragraph. 

Modified 11 paragraphs. 

Updated guidance. 

420.600 NEW 

New form to document component performance materiality, both preliminary and final, along with specific performance materiality. 

421.600 NEW 

New form added for component balances. 

422. NEW 

New form related to component auditors. 

430. 

Added 2 new procedures. 

Minor changes to 2 procedures. 

Updated document guidance. 

436. 

Added 2 new procedures. 

Major changes to 2 procedures. 

Minor changes to 2 procedures. 

Updated document guidance. 

438. 

Added dynamic text of group and non-consolidated terms. 

Added 1 new section. 

Modified 13 paragraphs. 

Updated guidance. 

445. DELETED 

Form has been deleted and replaced by new Form 590.600. 

455. 

Added 3 new procedures. 

Major changes to 4 procedures. 

Minor changes to 5 procedures. 

Deleted 1 procedure. 

Updated document guidance. 

Risk assessment 

FSA. 

Added the Entities column and renamed to Components. 

590.600 NEW 

New form added to determine which component audit work will be performed. 

Replaced Form 445 - Group audit planning. 

510. 

Updated the guidance. 

Enhancements Entity ownership and Subsidiaries section. 

Modified 7 existing and added 4 new matters to consider. 

Modified 1 existing and added 13 new risk factors. 

511. 

Added 1 new procedure. 

Major changes to 1 procedure. 

Minor changes to 3 procedures. 

Updated document guidance. 

Added conclusion. 

511-1. 

Updated the guidance. 

Added guidance to the Applications section. 

Added a new table. 

523. 

Deleted the hidden content relating to condensed forms. 

523-1. 

Deleted the hidden content relating to condensed forms. 

520E.1 

Added the Entities column and renamed to Components. 

520E.10 DELETED 

Deleted the risk reports relating to the previous profiles. 

520E.2 

Added the Entities column and renamed to Components. 

520E.102 DELETED 

Deleted the risk reports relating to the previous profiles. 

520E.3 

Added the Entities column and renamed to Components. 

520E.103 DELETED 

Deleted the risk reports relating to the previous profiles. 

520E.4 

Added the Entities column and renamed to Components. 

520E.104 DELETED 

Deleted the risk reports relating to the previous profiles. 

530. 

Updated the document guidance. 

Added section guidance for 3 risk areas. 

Modified 2 example policies and procedures. 

531. 

Added 3 new procedures. 

Major changes to 3 procedures. 

Minor changes to 8 procedures. 

Updated document guidance and conclusion. 

535. NEW 

New form to assist in the identification of risks in the financial statement preparation process, including consolidation process. 

540. 

Added the Entities column and renamed to Components. 

545. 

Added the Entities column and renamed to Components. 

550. 

Added the Entities column and renamed to Components. 

555. 

Added the Entities column and renamed to Components. 

560. 

Added the Entities column and renamed to Components. 

561. 

Added the Entities column and renamed to Components. 

562. 

Added the Entities column and renamed to Components. 

520E.5 

Added the Entities column and renamed to Components. 

520E.105 DELETED 

Deleted the risk reports relating to the previous profiles. 

520E.6 

Added the Entities column and renamed to Components. 

520E.106 DELETED 

Deleted the risk reports relating to the previous profiles. 

520E.8 

Added the Entities column and renamed to Components. 

520E. 

Added the Entities column and renamed to Components. 

5200 NEW 

New letter related to component auditors. 

5201 NEW 

New letter related to component auditors. 

Risk response 

622. NEW 

New form related to component auditors. 

635. NEW 

New form to respond to the risks identified in understanding the financial reporting process, including the consolidation process. 

650. 

Major changes to 4 procedures. 

Updated document guidance. 

670. 

Major changes to 1 procedure. 

Minor changes to 1 procedure. 

Updated document guidance. 

Deleted the Objectives table and included the objectives area as part of guidance. 

5101 DELETED 

Deleted for new ISA 600 (Revised) content integrated into new and existing forms. 

5102 DELETED 

Deleted for new ISA 600 (Revised) content integrated into new and existing forms. 

5103 DELETED 

Deleted for new ISA 600 (Revised) content integrated into new and existing forms. 

5000 DELETED 

Deleted for new ISA 600 (Revised) content integrated into new and existing forms. 

5001 DELETED 

Removed as Engagement quality review responsibilities are now covered in Form 302 - Engagement quality. 

5002 DELETED 

Deleted for new ISA 600 (Revised) content integrated into new and existing forms. 

5003 DELETED 

Deleted for new ISA 600 (Revised) content integrated into new and existing forms. 

5004 DELETED 

Deleted for new ISA 600 (Revised) content integrated into new and existing forms. 

5004 DELETED 

Deleted for new ISA 600 (Revised) content integrated into new and existing forms. 

5005 DELETED 

Deleted for new ISA 600 (Revised) content integrated into new and existing forms. 

5006 DELETED 

Deleted for new ISA 600 (Revised) content integrated into new and existing forms. 

5007 DELETED 

Deleted for new ISA 600 (Revised) content integrated into new and existing forms. 

5008 DELETED 

Deleted for new ISA 600 (Revised) content integrated into new and existing forms. 

5009 DELETED 

Deleted for new ISA 600 (Revised) content integrated into new and existing forms. 

5010 DELETED 

Deleted as Goodwill impairment is covered in Form 10.101 Intangibles and goodwill - Audit procedure. 

5011 DELETED 

Deleted as the new ISA 600 (Revised) content is now covered in Form 5201 - Instructions for a component auditor. 

5012 DELETED 

Deleted as the new ISA 600 (Revised) content is now covered in Form 5201 - Instructions for a component auditor. 

5013 DELETED 

Deleted as the new ISA 600 (Revised) content is now covered in Form 5201 - Instructions for a component auditor. 

5014 DELETED 

Deleted as the new ISA 600 (Revised) content is now covered in Form 5201 - Instructions for a component auditor. 

5015 DELETED 

Deleted as the new ISA 600 (Revised) content is now covered in Form 5201 - Instructions for a component auditor. 

5016 DELETED 

Deleted as the new ISA 600 (Revised) content is now covered in Form 5201 - Instructions for a component auditor. 

5017 DELETED 

Deleted as the new ISA 600 (Revised) content is now covered in Form 5201 - Instructions for a component auditor. 

Completion documents 

DOC 

Added 5 new procedures. 

Major changes to 1 procedure. 

Minor changes to 13 procedures. 

Deleted 8 procedures. 

Updated document guidance. 

304. 

Major change to 1 procedure. 

305. 

Added 2 new procedures (including addition of a new section). 

Major changes to 3 procedures. 

Minor changes to 28 procedures. 

520E.7 

Added the Entities column and renamed to Components. 

520E.107 DELETED 

Deleted the risk reports relating to the previous profiles. 

310. 

Added 1 new procedure. 

Major changes to 1 procedure. 

Minor changes to 3 procedures. 

Deleted conclusions. 

310.-1 NEW 

New form to include the Partner/Practitioner conclusions from Form 310. 

New procedures include: 

Expert competence and capabilities 

Internal audit competence and capabilities 

Component auditor competence and capabilities 

Component auditor quality monitoring and remediation 

360. 

Added the Entities column and renamed to Components. 

365. 

Added dynamic text of group and non-consolidated terms. 

Updated guidance. 

366. 

Added dynamic text of group and non-consolidated terms. 

Updated guidance. 

367. 

Added dynamic text of group and non-consolidated terms. 

Updated guidance. 

Modified 2 paragraphs. 

Added 4 new sections. 

368. 

Added dynamic text of group and non-consolidated terms. 

Modified 1 paragraph. 

Updated guidance. 

350. 

Added dynamic text of group and non-consolidated terms. 

Modified 8 paragraphs. 

Added 5 new paragraphs. 

Added 2 new sections. 

Updated guidance. 

 

3.2 Caseware Africa 

This paragraph only relates to South Africa. The IRBA Rule on Enhanced Auditor Reporting for the Audits of Financial Statements of Public Interest Entities (EAR Rule), published in Government Gazette No. 49309 dated 15 September 2023 (EAR Rule) is effective for audits of financial statements for periods ending on or after 15 December 2024, with early adoption permitted. 

The EAR Rule prescribes additional disclosures in the independent auditor’s report on the audit of annual financial statements of Public Interest Entities (PIEs), as defined in the IRBA Code of Professional Conduct for Registered Auditors (Revised April 2023), as amended. The Revisions to the IRBA Code of Professional Conduct for Registered Auditors (Revised April 2023) issued in November 2023 was applied. 

Matter identified  

ISA ref 

Comment  

405 Engagement – Acceptance/Continuance (Core) 

Public interest entity (PIE) 

 

The definition of the public interest entity included as guidance text has been updated based on the revised definition in ‘The Revisions to the IRBA Code of Professional Conduct for Registered Auditors (Revised April 2023)’ issued in November 2023. 

305 Reporting checklist 

Public interest entity (PIE) 

IRBA EAR Rule 

Procedures related to the additional disclosure required in the auditor’s report of the financial statements of a PIE, were added. 

These procedures will only be included when user selected PIE in 01.20 Information store (newly added field). 

325 Worksheet - Key audit matters 

Key Audit Matters table 

IRBA EAR Rule 

Users will be required to complete the following two new columns when users selected South Africa and PIE in 01.20 Information store: 

  • Outcomes of audit procedures with respect to the key audit matter 

  • Key observations with respect to the key audit matter 

 

3.3 Related annexures 

 

Download our full release notes to see the annexures below.

 

  • Annexure A – Content changes by Caseware International 

  • Annexure B – Detailed content changes (CWI) 

  • Annexure C – Known matters 

  • Annexure D – Firm author notice 



 

 

If you are a firm champion or firm template author, you will have access to your unique download package by accessing the My Software page and clicking on the download packager icon top right. If you are responsible for managing updates and have not received login details for the CaseWare Africa Success Community, click on Login (top right) and then choose the Register Now option.

If this is not successful contact our admin team at info@casewareafrica.com

Who is the firm champion?

  • The "Firm's Champion" is the staff member responsible for rolling out the template to the users at the firm.

I do have a CaseWare Africa Success Community login

  • If you are a firm champion, you will have access to your firm's unique download package by accessing the My Software page and clicking on the download packager icon (top right).

I do have a CaseWare Africa Success Community login but cannot see the My Software option

  • You may request the file to be provided to you by your firm champion.
  • Alternatively to obtain this access your firm champion will need to update your user permissions on the Content Management page once they have logged in. This page is available when selecting the My Team's Information option in the drop down menu. When clicking on the Manage button next the user's name, ensure that the Download Software checkbox is ticked. This will allow the user access to the My Software page.

I don't have a CaseWare Africa Success Community login

  • If you are responsible for managing updates and don't have a login for the CaseWare Africa Success Community, click on the Login button in the top right and then Register Now.
  • If this is not successful contact our admin team at info@casewareafrica.com
 
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