Probe | F15 - Core vs Extended

Published: 14/11/2023

The following describes the feature included in Probe Audit Premium+.

Instructions:

The engagement team selects either the “Core” or “Extended” profile option for the engagement documentation. This choice is made in document 10.20 – Engagement evaluation by answering the question “Do we elect to use the extended procedures to assist the engagement team with gathering and considering relevant information?”.

Select “No” to activate the “Core” profile or “Yes” to activate the “Extended” profile.

The “Core” profile includes procedures in the engagement file that address the minimum requirements of the ISAs.

In addition to the minimum requirements of the ISAs, the “Extended” option includes further audit procedures, questions and considerations based on the application and other explanatory material.

The extended procedures will benefit inexperienced engagement team members that are not as familiar with the practical application of the ISAs. A firm might also apply “Extended” on the engagement based on its own audit documentation policies.

As this is a new feature, introduced in 2022, the application material for recent changes in auditing standards have been addressed and more changes will be implemented in upcoming releases.

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