AuditDesktop is a comprehensive solution, combining all tools necessary to automate the complete process of planning, conducting and documenting an audit engagement. Here, in a single software product are combined functionalities that you would usually find after combining different software solutions. The product is designed as an audit method and methodology development platform, based on checklists, programs and procedures, document templates and spreadsheets.
The audit method development process allows cross-referencing between various audit documents. Each audit engagement can be conducted using a different audit method, carefully tailored to address the engagement’s specifics. The selected approach can be customised and expanded during the audit process. Each method applied in a completed audit engagement can be used as a template for similar future engagements.
The product is tailored to meet the needs of external auditors conducting audits, such as “Audit of Financial Statements”, “Audit of Internal Controls over Financial Reporting” and “Compliance Audit”.
Key Features
CONDUCT RISK-BASED AUDIT ENGAGEMENTS WITH EASE
- Identify and assess risks
- Analyse the risk register
- Evaluate the controls
- Check the risk-control matrix, showing all uncovered risks
- Active* risk-driven audit approach based on ISAs by IFAC
* Activates parts of the audit approach in response to the identified and assessed risks.
FROM THE TRIAL BALANCE TO THE FINANCIAL STATEMENTS
- Automated trial balance import
- Consolidation
- Graphic analysis of changes in the accounts
- Mapping of financial statements to the trial balance
- Tracking of adjustments and reclassifications
LEAD SCHEDULES AND SECTIONAL MEMOS
- Automatically populated Lead schedules
- Mapped trial balance and Financial statement lines
- Tickmarks
- Sectional memos – recaps for each section in a single click
MATERIALITY AND KEY NUMBERS
- Materiality determination and materiality indicators
- Financial indicators – key numbers for the company available at a glance
- Cross-reference link between material items and working papers
- Statements for current period and two periods back, showing the variance for each item
- Sampling