Table of Contents
- Summary of misstatements → Summary of adjustments. Misstatements are now a type of Adjustment, together with Reclassifications and Eliminations. Hence, in the working papers' context menu, Misstatements have been renamed Adjustments.
- Timesheets tab in the main window has been renamed Work management
Change in the way adjustments are entered. One adjustment can now have several journal entries. During update, adjustments are grouped by type (misstatement, reclassification), state (posted or not), trial balance and date of posting. A new adjustment is created for each of these groups, and the records of this group are entered as journal entries.
The current version allows for working in offline mode. Users can fetch data from one or several engagements. They can work at the client's place, without having a connection to the server. Once the users return to the office or connects with the server in any way, they can return the data they had worked on to the main database. The functionality has a few limitations in this program version.
The Timesheets tab has been expanded to include new functionalities and has been renamed Work management. The new modules are:
A Task management module has been added, connected with the engagement plans.
An Event and meeting management module has been added.
An email sending system has been introduced. It can be accessed from different locations in the program such as Main window, Working papers, Clients, Reports, etc. It is also possible to send emails automatically, for example when a Task is changed. Some of the functions are:
- Option to use several email addresses
- Option to schedule or switching to an offline mode for automatically sent messages
- Using a server application for mailing that eliminated the need to set up an email address for each user
- Using message templates
- Attaching files
- Sending merged messages
- Unification of the formatting of displaying number, date and time data type in the program. The operating system's settings are used by default.
- Option to set different format settings from those of the operating system
The new program version supports method project plan. It consists of numerous tasks, each of which can be set up along several relative parameters:
- Assignee and Reviewer - the engagement's roles are used (Team leader, Manager, Partner)
- Start date and Due date - key dates from the engagement are used, such as Start date, Due date, Preliminary report date, etc.
When creating the project plan in the engagement, the relative parameters are filled in with its data.
Some of the other options are:
- Setting an estimated duration of the execution given in hours
- Reference to a working paper or section
- Export and import of the project plan in the engagement's method
- Option to send a working paper of the File or Questionnaire type via email
- Option to create a Task connected with a selected working paper
- When filling in the parameters in MS Excel file, cells that contain a formula are skipped
- The option to create a Task connected with a selected section
- The option to attach files or refer to working papers
- Entering and editing of tickmarks is done in a dialog window
The option to set access level to a specific checklist question of a Checklist has been removed
The option to set access level to a specific Program step has been removed
- New option has been added - to restore the "Active" status of working papers (in subsequent engagement)
- When opening a subsequent engagement, if Control trial balance is used, it will be transferred as Previous TB. Otherwise, the Final TB will be transferred.
There are two new levels of team hierarchy: Manager and Partner. When a working paper is marked as ''Checked'', it becomes locked for lower hierarchical levels. In descending order, the hierarchy is as follows: Partner, Manager, Team leader, Team member
The new program version supports engagement plan. When starting, it is not necessary to use the project plan of the method. Some of its features are:
- Consists of tasks, each of which can be connected with a working paper or section
- Working papers can be opened from the plan
- When an Assignee is selected, they are automatically given access to the referenced working papers or sections
- Selection of Reviewer
- The Management assertions column in Statement of financial position analysis and Income statement analysis has been removed
- Addition of a button that allows users to mark all items as ''Material'' if their absolute value is greater than the overall materiality or the performance materiality
- When an item is marked as ''Material'', the program will automatically select the activity ''SP and CT'' unless the selected option is other than ''-''
Statement of Financial Position and Income Statement
- Changed the way Initial statement of financial position and Income statement are entered. Manual adjustments are automatically displayed in parent items, if such a dependency is set up.
Trial Balance Groups
- Option to consolidate trial balance, using posted eliminations
MS Office Modules for Work with Parameters
- Added option to generate a sample from a selected field or table. Supported sample types are Random and Monetary with fixed intervals.
- Added new fields: Short name, Data registration: City and Region
- Added option to set value by default for using Control trial balance in engagement creation
Engagement Creation Parameters
- Option to set the use of Control trial balance in the engagement
- Visibility mode of Control trial balance depends on the accounting settings of the engagement
- Automatic compensation of closing balance of Adjusted and Final trial balance. Compensation is performed only in case a posted misstatement and reclassification are present
- Detailed data for posted reclassifications in Final trial balance
Summary of Adjustments
The Summary of Adjustments has been reworked and renamed in accordance with the new manner of working with adjustments.
- Option to group the Timesheets report by clients
- Option to send reports to clients as group email reports
- Option to save reports in files by clients