Compilation | 06.50 Gathering compilation information

Published: 27/06/2023

Objective

The objective of this document is to gain an understanding of the entity and its environment, and to give the user an overall insight regarding the transactions that took place during the year for every line item on the financial statements.

Format

The document is divided into the following sections in order to obtain an overall understanding of the entity:

Business and operations, e.g. "Describe the nature of the business and its operations?"
Additional six sections; one for each financial statement category e.g. “Non-current assets”

The format of the document is a questionnaire and the answers to the questions will have an impact on the procedures in 07.20 – 07.80 Compilation programs

Instructions

	Input require	Outc
Yes/No	Answer the question by making a selection with the "Yes / No" drop-down box.	Your engagement will be tailored and further questions in the engagement file will be shown/hidden.
Description	Insert a short description, if necessary, to substantiate the answer given.	By describing the thought process you went through in arriving at your answer, you are able to substantiate your answer to reviewers and future enquiries.
Ref.	Insert a reference to supporting documentation if necessary, you can click on the dropdown box to reference to a document already in your Caseware file.	You ensure that your file is logical and demonstrates compliance with ISAs.