Backup_How_to_Conduct_a_New_Audit_with_FSAA

1.	Open the Settings tab and enter the basic data with which you will be working, such as Job positions, Employees and Activities. Check the First steps page, steps 3-4, for more details.
2.	Enter the data of the company/companies for which you will conduct the audit engagement. To do so, open the Home tab and go into the Clients subsection. Click the Add button in order to open the Client data window. It is important that the client's data should be as full as possible because later on it will be filled in the parametrised working papers.
3.	Creating a new audit engagement. The term ''New audit engagement'' is given from the program's point of view. From the point of view of the audit process, the engagement can be ''Initial'' or ''Subsequent''. Here, we'd like to draw your attention to one of the system's main concepts: the availability of a main document library. When you create a new audit engagement, this library will be ''copied'' as the ''audit's library''. The activation of all working papers in the ''audit's library'' depends on the parameters that you have selected when first creating the engagement. Right click on the client for whom you wish to create a new audit engagement From the context menu, select the New engagement option Open the General tab and fill in the following fields: Engagement type - you can choose between ''Audit'' and ''Project'' engagement type Audit type - select either ''Initial'' or ''Subsequent'' audit type Audit name - enter the name of your audit engagement Select the FSAA 2.x approach in the Approach field Select the Medium or Large option in the Type of engagement field Open the Team tab and select the engagement's Team leader. It is desirable that you also enter the engagement team members. Open the Accounting tab and select Trial balance type (1-column or 6-column trial balance) and Reporting currency. Mark whether you wish to use the Control TB. Note You can also fill in the Audited period section, which has for the time being only informative function.
4.	Import the Initial and Previous trial balance. If you are working with the 6-column trial balance, open the Check previous trial balance tab in order to check whether the Closing balance of the previous year equals the Opening balance of the current year.
5	Click the Chart of accounts button and map the accounts to the corresponding items.
6.	Open the Mapped trial balance tab in order to check whether there are any accounts which have not been mapped. In case such accounts are present, you can return to the Chart of accounts to map them, or you can adjust them manually in the Statement of financial position and Income statement windows. Info If you want to see the sums of the trial balances grouped into items, open the FS Lines (Financial Statement Lines) tab.
7.	Open the Statement of financial position window and click Data. You can enter the adjusting values manually in the Correction / Manual entry column.
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¶ title: Backup: How to Conduct a New Audit with FSAA