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Timesheets
OVERVIEW
Timesheets

AuditDesktop includes an integrated module for reporting the time invested in audit engagements and in other activities and projects, which the organization's employees are working on. The module can also be accessible to the organization's employees who are not members of the audit teams.

Тimesheet features a module of pre-set reports, where information about the number of hours worked by the team, from a specific office, by a specific employee, over a specific time period or a specific audit engagement, is only a click away. In addition there is an integrated OLAP decision cube, through which you can analyze the information compiled in random sections defined by you.

 
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Reports
OVERVIEW
reports

AuditDesktop offers a wide range of pre-set reports for analyzing and monitoring audit engagements. The pre-set reports incorporated in the product allow you easy access to information on unfinished or unchecked documents. Each of the documents which appear in the reports is accessible through a hyperlink for additional action directly from the report module. You can also open reports for all Findings, Recommendations, Notes, Questions and Issues identified by the team members during the audit process and follow the hyperlink to access the documents.

AuditDesktop features a powerful built-in editor, which can be used to create additional reports from the information in the audit engagements in the form of random cross-sections. All reports allow the user to set the view and can be tailored and customized to the smallest detail.

List of available reports:

  • Audit register – provides detailed information about all audit engagements carried out by the organization
  • Audit differences – summary report of the errors and their nature and impact on the financial statements and disclosures.
  • Summary of completed, checked, not completed, not checked, completed and checked without findings audit documents from the audit approach
  • Issues to discuss: with the team, with the client, for the next audit, from the previous audit
  • Questions: to the team, to the client
  • Notes
  • Findings and recommendations
  • Reviewer’s comments
  • Customized reports including information about the engagement, team members, audited entity, errors, findings etc.
  • Timesheets
  • Human resources
  • Trial-balance reports with controls and analyses
  • Risk register
 
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TRIAL BALANCE & FINANCIAL REPORTS
TRIAL-BALANCE
trial balance2
trial balance

AuditDesktop allows you to import the trial balance of the audited entity using the most commonly used file formats. In this product you will find predefined imports of the most commonly used accounting software. The system allows you to enter trial balances on a monthly, quarterly or other basis, preferred by the auditor. The program automatically forms a combined financial statement and produces graphic analysis of the movements in each account. This allows you to identify unusual movements easily, which will draw your attention to potential problems.

AuditDesktop supports the following types of trial balances:

  • Opening –trial balance imported at the start of the audit engagement from the accounting software used.
  • Adjusted – summarized trial balance including the data from the opening trial balance and the errors accumulated during the audit.
  • Closing – closing finalized trial balance provided by the audited entity before the completion of the audit engagement.
  • Previous - trial balance from a prior period, which is filled-in automatically after an auditing engagement has been finalized and a subsequent one has been opened, or is imported in case of first year engagement.

With AuditDesktop you can easily check whether there are any differences between the closing trial balance and the adjusted one, or whether the balances from the preceding year have been carried forward in the opening trial balance.

STATEMENTS
analytic procedures

AuditDesktop automates the initial and finalizing analytical procedures by allowing tracking of the movements in each item in absolute values and as percentages going two periods back in time. The movements table is linked to the risk register.

When you enter the statement of financial position and the income statement, the system will automatically calculate the ratios of liquidity, cost-effectiveness, profitability and other financial indicators associated with the financial analysis of the entity.

 
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ERRORS
OVERVIEW
Errors

Every audit document is cross-referenced to a table - register of errors found. This register provides comprehensive information about where the errors have been found and their nature and impact on the trial balance, statement of financial position, income statement or disclosure.

Should errors be accepted and adjusted by the audited organizations, AuditDesktop allows you to tag them as such. The tagged adjusted errors will only remain for the information purposes and will not be taken into account during the preparation of the adjustment reports.

The adjusted errors form a separate register and, together with the initial trial balance, they can be automatically compared with the final one of the entity.

 
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CONDUCTING AND DOCUMENTING AN AUDIT
OVERVIEW
audit work

AuditDesktop is a convenient tool for conducting and documenting audits following the pre-set methodology. Each audit engagement can be performed using a different audit method, customized to meet the specifics of the engagement. AuditDesktop provides unprecedented possibilities, which you will not find in any competitor product, for fine-tuning and expanding the audit approach even during the performance of an audit engagement. . Each work method can be used as a template for similar engagements.

PERFORMING AUDIT ENGAGEMENTS

Once the audit engagement has started and the team has been formed, the partner in charge of the audit engagement assigns rights to each team member regarding the working papers and the procedures which are to be performed. Each team member can see and access only that section of working papers which they have been given access to. AuditDesktop provides three separate views for access to the working papers from the audit approach:

audit work2
  • Tree and list: A hierarchical view model of the steps in the audit approach, including a list view of the documents contained in each step.
  • Tree-like - All steps and documents are accessible in a tree-view model
  • Grid – A hierarchically presented table view, which allows access to all working papers on a single screen with the option to filter and sort according to various criteria

AuditDesktop allows:

  • Importing trial balances and financial statements
  • Calculating materiality
  • Creating samples
  • Performing tests or substantive procedures in response to the assessed risks
  • Providing the customer with feedback questionnaires

AuditDesktop guides you through the various phases of the audit process. All functionalities of the software are accessible through a context menu for each document (at each location where one was referred to):

  • Review / Editing
  • Identifying errors in trials balances, statements or disclosures
  • Identifying and assessing risks
  • Entering and tracking: Issues, Notes, Comments
  • Findings and recommendations
  • Attached audit evidences
  • Tagging the status of the document: Completed, Checked

AuditDesktop allows you to attach all audit evidence collected to each single audit document, reference or element from a checklist or program. All information about the engagement is stored in a single database.

Microsoft Office – Word and Excel documents can be opened for review or editing in the center of the product. Specially designed custom fields with information from the audit engagement are available in the office documents. And even more…

 
Strategic planning
Strategic planning
Annual planning
Annual planning
Risk assessment
Risk assessment
Risk matrix
Risk matrix
Materiality
Materiality
Sampling
Sampling
Audit methods development
Audit methods development
Conducting and documenting an audit
Conducting and documenting an audit
MS Office integration
MS Office integration
Trial balance
Trial balance
Trial balances consolidation
Trial balances consolidation
Financial statements analysis
Financial statements analysis
Errors
Errors
Timesheets
Timesheets
Reports
Reports
Audit file export
Audit file export
Audit file export - checklist
Audit file export - checklist