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Audit Assistant for Financial Auditors

Historical Financial Audits

Templates for historical financial audits incorporating best auditing practice, based on the International Auditing Standards. Designed for use for small to large audit jobs. They presuppose a professional level of understanding and experience of the Standards. They include references and hyperlinks to auditing standards, checklists for financial reporting and content for auditing Service Performance where applicable.

Templates for auditing the following kinds of entity are included:

  • Large for-profit
  • Large Charities
  • SME Charities
  • SME Companies
  • Other Not-for-profits
  • Body Corporates

In addition our NZ Schools Audits package is designed for historical financial audits referencing ISA(NZ)s of NZ Schools in terms of the requirements of the Office of the Auditor General – not available in our general packages but is a custom add-on. If you are a school auditor or are considering becoming one please contact us for more details.

Compliance Audits

These templates cover the requirements of SAE 3100 (Compliance Engagements) and ISAE (NZ) 3000 (Assurance Engagements other than Audits or Reviews of Historical Financial Information). The templates cover full planning, engagement letter, trial balance upload (optional), risk assessment, internal control analysis, testing pages, analytical review, audit reports, management letters, and more.  They contain engagement letters, options of various kinds of Limited Assurance and Reasonable Assurance reports, plus other relevant letters and reports. The base version is appropriate for testing compliance with terms of grants, trust deeds, etc.

Templates for auditing the following kinds of entity are included:

  • Real Estate Trust Accounts 
  • Private Training Establishment Trust Accounts 
  • Body Corporate Management Trust Accounts
  • Solicitors Trust Accounts
  • Other entities (Base version)

 

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Agreed Upon Procedures (AUP) Engagements

Based on APS-1 (revised) – Agreed-Upon Procedures Engagements to Report Factual Findings issued by the NZICA, these templates include an engagement letter, report, and a range of confirmation letters and work-papers to fit many common agreed-upon procedures. The practitioner is asked to verify a question of fact, and their work simply answers that question.

Review Engagements

A lower-cost alternative for entities not requiring the level of assurance of a full audit and are allowed by law to opt for a review instead of an audit. A Review Engagement is a high-level assessment of financial statements by an independent professional that provides comfort to the users of financial statements that nothing has come to the attention of the reviewer that indicates that the financial statements do not give a true and fair view/are not fairly presented:

The following are included:

  • General (with SSP) – suitable for all types of review client where Statement of Service Performance is included.
  • General (without SSP) – suitable for all types of review client where no SSP is included.
  • Tier 3 PBE – standard review template modified specifically for Tier 3 PBE with PBE SFR – A (NFP): Public Benefit Entity Simple Format Reporting – Accrual (Not-For-Profit) checklists.
  • Tier 4 PBE – standard review template modified specifically for Tier 4 PBE with PBE SFR – C (NFP): Public Benefit Entity Simple Format Reporting – Cash (Not-For-Profit) checklists.
  • SPFS for FPE – standard review template modified specifically for SPFR for FPE entities – including checklists for “A Special Purpose Financial Reporting Framework for use by For-Profit Entities” (SPFR for FPEs) issued by CAANZ.
  • Body Corporate – for Body Corporate financial statements prepared in terms of generic special purpose policies or in accordance with SPFR for FPEs in accordance with provisions of the Unit Titles Act 2010 and the Unit Title Regulations 2011.

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