Yellow Warnings for Assertions in FSA
The Yellow triangle warning is a new feature that we have implemented into the Audit template for Audit 17.
What does this new feature do?
The Yellow warnings indicate that there are no procedures to address a particular assertion in the corresponding program. So for example, if you receive a warning under C for the FSA item G – Property, Plant and Equipment, then it is suggesting that in the G.10 program there are no procedures that mitigates the C – Completeness assertion for our Property, Plant and Equipment.
What does this mean? Did I do something incorrectly?
If this is an existing file, then in short, No.
Previously, the procedures in work programs did not have assertions tagged. This means that the actual procedure required was in fact present in the program, but isn’t recognised by the FSA as being linked to an assertion.
This has been fixed in our template and any new engagement files that are created will no longer have this problem with the assertions. In Audit System 17.00, procedures in the program have be tagged to specific assertions.
If this is a new file based on the latest template, then it means you have removed procedures from your work program.
You can choose to restore these procedure by following the steps below.
1) From the 'Audit' menus, select Procedures > Review Deleted Procedures
2) Right-click on a deleted procedure to Restore.
How do I fix this problem in my current file?
Simply ignore the Yellow Warnings, understanding that you may be performing insufficient testing procedures.
Delete and reinsert the program from the template. This will give you a brand new work program. However, note that you will also lose any work previously performed in the program.
Reinsert the Procedures following the instructions given above. This will retain any work previously performed in your program, only re-inserting procedures that were deleted.