Audit Profile 6 - OneForm (New Zealand)

What is the OneForm (New Zealand) Profile?

The OneForm (New Zealand) profile includes automatic documents, work programs, materiality and the Financial Assertions Worksheet. It also includes "OneForm" - a memo document designed as a framework for ISA (NZ) documentation requirements.  This profile is designed for a simple engagements. A one page memo form is provided as a framework to complete required documentation, including risk documentation.

Where more guidance is required additional documents can be added from the document library.

 

The OneForm (New Zealand) Profile includes:

  • Trial balance, journal entries and issues.
  • Optimiser confirmation report to remove any immaterial workpapers.
  • OneForm - a one page audit memo to complete required documentation for planning, risk assessment and completion of the audit.
  • Risk Response programs
  • Materiality worksheet and key materiality information at the top of most documents
  • Financial statement assertions (FSA)
    • Deletes immaterial audit sections.
    • Deletes procedures on risk assessment.
  • Audit Plans and Procedures - leadsheets and audit work programs
  • Identified Misstatements - unrecorded journal entries (summarised by factual/projected/judgemental) and a summary of unadjusted misstatements.
  • Risk database where risks can be easily added throughout the engagement and summary risk reports produced.
  • Reportable item database where reportable items can be accumulated throughout the engagement and a report to management/those charged with governance can be prepared.

 

Template Toolbar

  • ONE: launches the ONENZ - OneForm Audit memo
  • Mapping: launches the Account | Assign Mapping Numbers screen.
  • Materiality: launches the 2-200 - Materiality document.
  • FSA: launches the FSA - Worksheet - Financial Statement Areas document.
  • OCR: launches the Optimiser Confirmation Report document.
  • : launches the New Risk dialog
  • : launches the New Control dialog
  • : launches the New Reportable Item dialog
  • Constellation: launches the Constellation program.
  • Refresh Q: updates the META DATA (cloud users only).
  • Update: launches the UPDATE - CWUpdate document.
  • Confirmation: launches the confirmation website.
  • Industry: allows you to select an industry (not used in Australia/New Zealand template).
  • Page Setup: allows you to select the page orientation and type for work programs, checklists and other specific documents.
  • Work Program: Creates a blank program.
  • Checklist: Creates a blank checklist.

 

OneForm (New Zealand) Profile - Risk / Reportable Items Dialog

Risk dialog

The risk dialog in the OneForm (New Zealand) Profile is less comprehensive than the larger profiles. All options are available in this profile to cater for small audit engagements.

Reportable Items dialog

The reportable Items dialog in the OneForm (New Zealand) Profile is less comprehensive than the larger profiles. All options are available in this profile to cater for small audit engagements.

Procedure responses

The Procedure responses are relatively consistent among all the profiles. The only one that may change would be the Unable to complete ISA (NZ) requirement.

 

 

 

 

 

What is unique about an OneForm (New Zealand) profile engagement file?

  • No Controls feature

  • ONENZ - OneForm Audit memo. All planning and completion based documents have been removed via in this profile and only the OneForm workpaper remains for the auditor to document their information about the engagement. This workpaper is unique to OneForm (New Zealand) profile.

  •  4-750: Audit Report: The template audit provided is determined by the users based on the answers provided to questions in the table at the top. The content of this document is from the suggested audit report templates in the appendices ISA (NZ) 700, 705, 706 and 800.

  • 5-201 / 5-202 Management / TCWG letters: These letters are unique to the OneForm profiles and link to the Audit Report (4-750). The conclusion will flow into the management and TCWG letters.

 

Attached Files (2)
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