Help File
The D J McNeill Consultants Inc. templates give you the head start you need to get CaseWare Working Papers and CaseView for Windows up and running in a quick and efficient manner.
It is important to understand, however, that these templates do not save you from learning and understanding CaseWare Working Papers and CaseView for Windows. Before starting on a client file, we recommend that you:
1. Review the user guides provided with your CaseWare Working Papers application. You should find links to the user guides in your Windows Start menu under CaseWare applications;
2. Consider attending a CaseWare Working Papers seminar;
3. Follow the set-up procedures described in our “Getting Started with Templates” guide;
4. Familiarize yourself with the resources available on the CaseWare “Help” menu, for future reference when a question arises about CaseWare;
5. Familiarize yourself with the resources available on the CaseView “Help” menu, for future reference when a question arises about CaseView; and
6. Familiarize yourself with the resources available in this page and the FAQs on our website, for future reference when a question arises about the templates.
Contents:
Year-end procedures - adopting a new template
Creating statements without comparative figures
CAS 315 Audit update – Version 2022.01
For more information or to contact us
Year-end procedures:
The following procedures are provided to help you update your client files to the most current version of your template. If you are changing the type of engagement or are adopting new templates (such as the adoptions of CSRE2400, CSRS 4200), refer instead to "Year-end procedures - adopting a new template" .
These procedures address the most common year-end options, but you should also consider whether any of the other options apply in your specific circumstances. Please refer to the CaseWare Help and user manuals for detailed guidance on year-end procedures.
Roll-over client data from prior year to the new year:
1) Open your previous year client file.
2) On the “Engagement” menu, select “Year-end close”.
3) Select the file path (folder) where the new file will be saved, and name the new client file.
4) Select “Update prior year balance data”.
5) Select “Update next year’s opening balance data with…” if you plan to enter ONLY the current year transactions in CaseWare. DO NOT select “Update next year’s opening balance data with…” if you plan to import or enter the client’s trial balance.
a. Select the type of balances to be used.
b. Ensure that the “R/E account number” is set to the opening equity account.
6) Select “Update CaseView Roll Forward Cells”.
7) Some of the remaining options are personal preferences, but in many cases, no other options will need to be selected.
8) When you have made all your selections, click OK.
Update the new client file from the current version of the Template:
1) Open the new client file. (It may already be open if you have just completed the roll-over from prior year.)
2) On the “File” menu, select “Copy Components” then "Copy into this file";
- If you have completed the “Initial template set up” procedures described in the Template “Getting Started” file, the templates will be set-up on a separate tab.
3) Select the appropriate template file to copy from (Review-ASPE, Review-ASNPO, Audit-CAS, or Compilation);
4) Select “The following components”;
5) Select “Documents”. In the Documents window, you will select the documents you wish to update, primarily to include the new checklists in your client file. Your selection will depend upon your preferences, but we suggest you consider the following selections:
a. Set the “Document filter” to “All documents”;
b. Check off “Copy documents only (no folders)”;
c. Click the “Select all” button;
d. Set the “Document filter” to “CaseView documents”;
e. De-select any documents that include data you wish to retain from the prior year.
- We recommend that you de-select all CaseView documents, except any new documents that have been recently added to the Templates, and which were not included in your prior year client file (refer to the “Getting started” file to determine whether any new documents have been added to the template).
- By de-selecting a document, certain data you have input in the prior year will be retained. See “Updating the CaseView documents” below for instructions to update these documents to the newest version without losing your data.
- Consider whether there are any documents from the prior year, other than CaseView documents, that should not be replaced. Find those documents by changing the “Document filter”. Then de-select those documents.
f. Click OK.
- Consider whether you should select “Groupings/Mapping” (only necessary if you wish to restore or add new groupings or mapping numbers from the template – refer to the “Getting started” file to determine whether any new mapping numbers have been added to the template that are relevant to the client.
6) To copy new mapping numbers into an existing client file using the “Copy Components” feature):
a. Select “The following components”;
b. Select Groupings/Mapping
c. Check the “Mapping” checkbox
d. Press the “Options…” button next to Mapping
e. Select “Merge source file’s mapping structure (new numbers are added)” and “Autofill account properties using mapping properties”, then press OK
7) To copy new leadsheets into an existing client file using the “Copy Components” feature:
a. Select “The following components” (formerly “Some Components”)
b. Select Groupings/Mapping
c. Check the “L/S” checkbox
d. Select “L/S” from the drop down items
e. Press the “Options…” button next to L/S
f. Select “Merge source file’s L/S structure (new numbers are added)”, then press OK
You are now ready to import or enter the current year client data:
A note about importing: Do not select "Prior Year Data" to import, if you have prior year data in CaseWare. Importing the prior year data would overwrite the comparative data in CaseWare. If your client did not post the prior year adjusting entries, or posted entries to the prior year that are not included in the CaseWare file, the comparative financial statements will not agree with the financial statements issued in the prior year.
Updating the CaseView documents:
Any CaseView documents that are not copied from the templates can be updated during the file preparation. We recommend that the “Update to current version” button be used in all working papers the first time each document is opened in a client file. If any data has been entered in the working paper, you will be prompted: “Would you like to keep entered data for input cells and paragraphs?” By answering “Yes”, your data should be unchanged, and the document will now include any changes we have made in the Template. This process is reversible in case of unexpected results, by closing the file without saving it. Alternatively, the “undo” button will undo any changes made from the update.
Year-end procedures - adopting a new template:
The following procedures are provided to help you adopt a new template. If you are changing the type of engagement or are adopting new templates, these are the procedures you should follow.
These procedures address the most common year-end options, but you should also consider whether any of the other options apply in your specific circumstances. Please refer to the CaseWare Help menu and user manuals for detailed guidance on year-end procedures.
Method #1 – recommended for most client files
Follow the “Client file setup” procedures for new clients in the “Getting started” PDF file. (Use only the most recent version of the “Getting started” file. Files show the date of issue in the footer.)
This method involves importing the client’s trial balance for the prior 2 years and assigning mapping numbers to each account. If these procedures can be performed in a short time, this method can efficiently ensure that all features of the new template are available for your use.
Method #2 – recommended when:
it is not practical to perform the above procedure
AND
the previous year client file was created with a previous version of DJ McNeill Templates and the trial balance report setup has not been edited
This method will activate any new template features introduced in past updates. This includes any changes to lead sheets, accounts or mapping.
Step #1 - Copy the appropriate template to a new client file:
1. Open CaseWare Working Papers.
2. Select “New” from the “File” drop-down menu.
3. Choose the location and file name of the new client file, and identify the appropriate template, if you have identified the template files In CaseWare as described on page 5.
We recommend this format for client file names: “Sample Client Ltd 2022”, where “2022” represents the year-end to be completed. Note: Do not use a period in the client file name. Your version of CaseWare may not support periods in file names. Thus, you should not use “Sample Client Ltd. 2022”.
4. If you have not identified the template files In CaseWare as described on page 5, click on the “Existing File” button then “Create file and import data”. *IMPORTANT*
5. Browse to “C:\D J McNeill Templates”, then choose the Template you wish to base the new file on.
6. Choose existing file on the next pop-up screen and then go back to “C:\D J McNeill Templates”, then choose the Template you wish to base the new file on.
7. Click “OK”.
CaseWare will create a new folder in the chosen location and will create the client file from the template.
8. When the “Engagement properties” dialog appears, enter the client information on 3 of the tabs: “name/address”, “contact 1”, and “contact 2”.
On the reporting dates tab, enter the date for the last completed year end. This will allow the proper opening balances to be imported into the newly made file.
Step #2 is to copy the trial balance from the prior year client file:
Select “Copy Components” from the “File” drop-down menu.
Select “Copy into this file”.
On the “File” tab:
Browse for and select your previous year client file and click ‘Next”.
Select “The following components”.
Select “Trial balance” and “Documents” and deselect all other boxes.
Select and customized Excel, Word, or other non-CaseView documents that you wish to use and if your client file includes customized CaseView documents, copying them will overwrite any new features in the new version of the document in the template – this is only advisable if the customization is extensive, such as in expanded financial statements for an NPO, Capital asset schedules, or if the new features are not required
If your client file includes custom mapping, select “Groupings/Mapping”; then select “Mapping” and click on Options. Use the “merge” option for copying mapping to ensure that only new map numbers are added (any duplication of map numbers should be fixed without changing the template map numbers). Select “Autofill account properties using mapping properties”.
Click “Next” and leave all boxes blank, then “Next” and “Finish”. If prompted that parts of the file will be overwritten, confirm that you wish to continue copying by clicking “Yes”
Step #3 is to autofill the accounts to synchronize the accounts with the mapping structure (Skip this step if autofill was performed in Step #2):
Select “Options” from the “Tools” drop-down menu
Under “Properties”, Select “Mapping” – “General”
Select “Autofill all account properties”
Answer “Yes” when prompted to synchronize account properties
Click the “Autofill Now” button
Click “OK”
Step #4 is to perform a year-end close on the file:
9) On the “Engagement” menu, select “Year-end close”.
10) Select the same file path and file name as the new client file you have created.
11) Select “Update prior year balance data”.
Skip procedure #4 if you plan to import or enter the client’s trial balance. (Procedure #4 applies if you plan to enter ONLY the current year transactions in CaseWare.)
12) Select “Update next year’s opening balance data with…”
a. Select the type of balances to be used.
b. Ensure that the “R/E account number” is set to the opening equity account.
13) Select “Update CaseView Roll Forward Cells”.
14) Some of the remaining options are personal preferences, but in many cases, no other options will need to be selected.
15) When you have made all your selections, click OK.
16) A warning will appear prompting you to back up the file as it will be overwritten. Since you created a new client file at the beginning of this process, a backup is not necessary.
Step #5 (the final step) is to open document 0.0P “File Profile” and enter the appropriate information for the client and the engagement.
After the File Profile is updated, the file is ready for editing of the engagement letter and is ready for the current year financial data.
You are now ready to edit the engagement letter and import or enter the current year financial data.
Document manager indexing:
We recommend that you retain and use the index system used in the templates. Here’s why:
We recognize that the file index system for working paper files varies from one firm to another. We believe the system used in the templates is consistent with and similar to many of the systems currently in use. While you are free to change the index to suit your preferences, we recommend that the changes be limited to specific items as explained below. Changing the indexing will limit your ability to keep the templates up to date, and will therefore be costly.
For example, if D J McNeill Consultants Inc. were to issue a revised property, plant, and equipment review engagement checklist due to changes in accounting standards, your files could be updated by simply copying the new checklist into your master template and by using that master to update each client file. However, if you had changed the index number in your master template from U.1 to some other number, you would have to first change the index number of the revised property, plant, and equipment review engagement checklist before copying it to your master. Since most revisions of the templates involve the updating of multiple documents for changes in accounting or auditing standards or changes in technology, the update process would no longer be simple if the indexing were changed.
The following recommendations may be useful to those firms that have not adopted paperless files. The issues encountered with paperless files can be complex and are not addressed here.
A review of the document manager will provide you with an understanding of the organization of the index. You will notice that some of the documents end with the letter “M”. Upon closer inspection, you will notice that all documents ending with “M” are manual documents. These are the only documents that can be re-indexed with different index references without affecting your ability to efficiently install updates of the templates when they are issued.
Most manual documents have been moved to “Template Documents Not in Use” in version 2017.02. We recommend that firms customize the template with manual documents that match their internal controls and procedures.
Why are the manual documents indexed separately? This indexing results from our desire to organize working paper files and the file preparation and review process in an efficient manner. Here is the process we recommend:
File preparer completes the entire file without printing any final documents. All manual documents are indexed and are inserted in index order in the working paper file.
File reviewer reviews the file online.
File preparer addresses any file review queries by making appropriate changes.
File reviewer reviews the corrected file online and approves the file.
The file is printed using the batch print option in CaseWare, which prints all CaseWare and CaseView documents.
The documents printed in the batch are inserted in the file in order, but separately from the manual documents, to avoid the time-consuming process of inter-filing numerous documents.
Here is an alternative, less-automated procedure used by many firms:
File preparer prepares the working paper file; all the while printing final documents and filing them as each section is completed. Any documents that are changed after printing are re-printed, and the former documents are destroyed. All CaseWare, CaseView, and manual documents are indexed and are inserted in index order in the working paper file.
File reviewer reviews the printed file.
File preparer addresses any file review queries by making appropriate changes, and reprints each affected document. (See note.) The old documents are replaced individually by the new documents in the file. The old documents are destroyed. (Note: This requires identifying all documents affected by the correction, and is a common source of error.)
File reviewer reviews the corrected file with the re-printed documents and approves the file.
While the 2nd list appears to have fewer steps, our experience is that the 1st method is more efficient. When comparing these two methods and their relative efficiency, we recommend that you consider how much time is spent printing and filing and re-printing and re-filing. Also, consider the likelihood that some documents that should be re-printed will be missed in the less automated procedure. If you choose to adopt our recommended method, you will see that having the manual documents labelled “M” makes them easier to find in the completed file.
If you add links to other documents, we recommend using index numbers with unique identifiers to avoid conflicts with any documents we may add to the templates in the future. For example, Excel document could be identified by using an “E” at the end of the index number, Word documents could be identified by using a “W” at the end of the index number, and Adobe documents could be identified by using an “P” at the end of the index number. Alternatively, you might use a single letter as a suffix that identifies any document added by your firm, such as the first letter of your firm name.
Working papers:
Overview:
All Caseview working papers and checklists should be updated to the current version before being filled out each year.
At the top of most working papers, there are fields showing the initials of the preparer, reviewer, and engagement quality control reviewer, as well as the dates of preparation and review. This information is picked up from the CaseWare Document Manager. When printed, this information will appear at the bottom of the working paper.
Most working papers call for you to enter a G/L account number or a mapping number to use as a control. Variances between the calculated total and the control total should always be explained.
Note that the "account" number can be a posting account or a control account, so groupings on the financial statements can be used as control accounts.
Account Analysis Working papers:
Throughout the template, there are various account analysis working papers. These allow you to enter an account number and then provide summarized detail of what makes up the account.
Note that if you want more of these analysis working papers, you can "right click" on the working paper in the Document Manager and choose copy. Next, go to the location on the Document Manager where you wish the new working paper, right click, and choose paste.
Prepaid expense analysis (L.2)
This working paper is to calculate prepaid amounts for purchases of expenses with benefits lasting past the period end date. Expenses lasting multiple years will need to be manually adjusted as the opening balances are automatically moved to the “expense” column.
Property, plant and equipment continuity (U.2 & V.5)
This working paper will take your assets, by class, from the prior year, account for additions and disposals, and calculate the amortization. Additions are to be entered in the “addition” column to account for the half year rule then in the subsequent year, to be moved to cost. Additions should always be entered on a separate line. The opening amortization needs to be manually inputted with the prior periods closing figures. Gains/losses are automatically calculated after entering disposals and proceeds. This working paper supports both declining balance and straight line amortization, if a different amount of amortization is chosen, it can be overridden manually.
GST/HST Analysis (FF.15) and PST Analysis (FF.25)
These working papers are provided so that you can print them and provide a copy to your client showing the changes you have made to these accounts on their behalf. These working papers indicate the total of the changes and show how the client should record them on their return.
GST/HST Reasonableness (FF.16) and PST Reasonableness (FF.26)
These working papers will help you to determine if the GST/HST and PST reported during the year is reasonable. It is likely that there will always be some variance on these working papers. Keep in mind bad debt write-offs and exemptions on purchases of capital assets.
For PST, we have found that a comparison to the prior year effective collection rate has been helpful in determining reasonableness.
GST/HST Reconciliation (FF.17)
This working paper is used to compile the difference of GST/HST remitted to that which was posted. This is used in conjunction with (FF.15) in order to match up with the financials. The activity does not include the posting of GST returns; these will need to be subtracted from the total in the account for the certain period. The GST returns posted in the account should match the numbers inputted into the working paper. The totals are automatically added to (FF.15)
Financial Statements
We have designed the financial statements to be as flexible as possible. Balances on the financial statements are pulled from the CaseWare Mapping Accounts. If you have assigned your client's account numbers to the mapping number properly, the CaseView financial statements should be easy to complete: simply ensure that all of the mapping numbers used are listed on the financial statements in the appropriate areas.
Several Financial Statement Note examples are provided. The philosophy used in designing these financial statements was that any numbers grouped and totalled in a note should be linked to the financial statement from that note. For example, if accounts receivable is made up of Trade receivables, Holdbacks receivable and Employee receivables, and if these are disclosed in the note, the total on the balance sheet should be pulled from the total cell in the note. This ensures that the note total will always match the balance sheet total. We suggest that you continue with this philosophy if you design your own notes.
As there are so many situations that can arise when preparing financial statements, please feel free to contact us by email (support@djmcneill.com) if you are having problems determining the best way to handle a situation.
Bonuses and Resolutions
Included with these templates are bonus and dividend working papers and resolutions for bonuses and dividends. We recommend that you obtain legal advice before using these resolutions, to avoid any inadvertent unauthorized practice of law. The resolutions may be useful in preparing instructions for your client's lawyer.
Index files (.E0, .L0, .S0)
Index files are used to separate and sort documents in a standardized numbering sequence (A.S1, A.S2, A.S3). These letters may be changed to better suit your needs as long as they don’t interfere with other document numbers. See above under “Document manager indexing” for more information.
Creating statements without comparative figures
To create financial statements without comparative figures (such as in the first year of business):
1. Open the File Profile (document 0.0P)
In the “Financial statement presentation” section, set “Will comparative figures be presented in the financial statements?” to “NO”
2. Select and perform the appropriate procedures below.
Income, retained earnings, and cash flow statements and related notes:
1. Open the File Profile (document 0.0P)
In the “Financial statement presentation” section, confirm whether “Print percentages on the income statement” is set to “YES” or “NO”
2. Open the client’s financial statements (document FS);
From the Document menu, click on Cell Group;
If Print %’s is set to NO in the File Profile:
a) Select Group: “py i/s without %” (prior year income);
In the Group tab stop section: i) change to “display only”, and
ii) change the position to 7.5” (from 6.5”)
b) Select “cy i/s without %” (current year income);
In the Group tab stop section: change the position to 6.3” (from 4.7”)
If Print %’s is set to YES in the File Profile:
a) Select “py i/s” (prior year income);
In the Group tab stop section: i) change to “display only”, and
ii) change the position to 7.8” (from 5.8”)
b) Select “py percent” (prior year percentages);
In the Group tab stop section: i) change to “display only”, and
ii) change the position to 8.5” (from 6.5”)
c) Select “cy i/s” (current year income);
In the Group tab stop section change the position to 5.8” (from 4.0”)
d) Select “cy percent” (current year percentages);
In the Group tab stop section change the position to 6.5” (from 4.7”)
e) Select “py i/s note” (prior year retained earnings and cash flow statements and certain notes);
In the Group tab stop section: i) change to “display only”, and
ii) change the position to 7.5” (from 6.5”)
f) Select “cy i/s note” (current year retained earnings and cash flow statements and certain notes);
In the Group tab stop section change the position to 6.3” (from 5.3”)
g) Click OK.
Balance sheet and related notes:
1. Open the File Profile (document 0.0P)
In the “Client Information” section, ensure that “Is this the initial year of adoption of the above framework” is set to “NO”(This question will only appear if the engagement type is set to “review” or “audit” - skip this step if the engagement type is set to “compilation”);
2. Open the client’s financial statements (document FS);
From the Document menu, click on Cell Group;
a) Select “py b/s” (prior year balance sheet and certain notes);
In the Group tab stop section: i) change to “display only”, and
ii) change the position to 7.5” (from 6.5”)
b) Select “cy b/s” (current year balance sheet and certain notes);
In the Group tab stop section change the position to 6.3” (from 5.3”)
c) Select “ca – p/y nbv” (capital asset note & certain other notes - prior year);
In the Group tab stop section: i) change to “display only”, and
ii) change the position to 7.5” (from 6.4”)
d) Select “ca – c/y nbv” (capital asset note & certain other notes - current year);
In the Group tab stop section change the position to 5.95” (from 5.5”)
e) Click OK.
Statement of Changes in Net Assets (NPO):
1. Open the client’s financial statements (document FS);
From the Document menu, click on Cell Group;
a) Select “p/y NPO” (prior year net assets);
In the Group tab stop section: change to “display only”
b) Click OK.
Cash flow statement:
Some cash flow statement accounts are calculated automatically and some you must enter through a "Cash Flows" entry. As a general rule, financing and investing activities require a cash flow entry, while operating activities are automatically calculated.
Cash Flow entries are recorded in the same manner as adjusting journal entries. Simply set the type to "Normal adjusting" and the accounts to "Cash flow". You will then be able to "look up" the available accounts (they all start with an "s"). Cash flow entries for cash inflows are debits, while entries for cash outflows are credits. To distinguish cash flow entries from other types of entries, we recommend numbering them as CF01, CF02… or some similar system.
Cash flow entries can be one-sided entries and need not be balanced, but since we accountants tend to like balanced entries, we recommend the following two ways to offset your statement of cash flow entry:
For all entries except the purchase and proceeds of capital assets, offset the entry to S99 (statement of cash flows offset).
For Capital Asset transactions, offset to the tax class account. These entries will then appear on working paper U.10 and can be used to enter the information on the client's tax return. (Be careful when using this for the tax return, as non-cash transactions are not included in this entry. As explained in the CPA Canada Handbook - Accounting, such non-cash transactions include purchases of assets under capital lease and purchases of assets with vendor financing.)
Many accountants use the indirect method of reporting the Operating Activities on the Cash Flow Statement, while the direct method is the preferred method recommended by the CPA Canada Handbook - Accounting. As both methods are acceptable, we have allowed for both in the templates. The choice is made simply by the click of a button. The mapping system has been designed to automatically set the cash flow attributes of each account that is reported in the Operating Activities section of the Cash Flow Statement. No further action is normally required.
However, in the event you modify the mapping system, the following information is provided for your reference:
If you are using the indirect method, the S accounts in the CS and DS columns of the Report section of the Mapping are the ones you need to ensure are set properly.
If you are using the direct method, the S accounts in the Cash Flows column of the Report section of the Mapping are the ones you need to ensure are set properly.
Non-cash Transactions
Non-cash transactions need to be identified to avoid presenting them on the Cash Flow Statement. Here are our recommended solutions:
Example #1 of a non-cash transaction:
Purchase of vendor-financed capital assets, or entering into a capital lease.
Solution: Ignore these transactions when preparing cash flow entries.
(The balance sheet accounts would normally require a cash flow entry to affect the investing or financing sections of the cash flow statement.)
Example #2 of a non-cash transaction:
Incur an expense or earn revenue by adjusting a shareholder or inter-company account (such as management fees debited to related company account or automotive expense credited to shareholder’s account).
Direct method solution:
(1) Ignore these transactions when preparing cash flow entries;
(For example, the shareholder’s loan account would normally require a cash flow entry to report in the financing section of the Cash Flow Statement. The cash flow entry for the shareholder’s loan should not include these non-cash transactions.)
(2) Create “dummy” accounts with no cash flow codes for the income or expense side of each transaction;
(The dummy accounts are needed so that the transaction can be reclassified to accounts that have no effect on the Cash Flow Statement. Otherwise, the cash from operations will be affected.)
and
(3) Use “reclassifying entries” to move the expense or revenue from the actual expense or revenue account to these “dummy” accounts.
(Reclassifying entries are not posted to the general ledger or provided to the client, so they will be invisible to the client.)
Use the same method for any entry – dummy accounts for income accounts; no cash flow entry for balance sheet accounts.
Indirect method solution:
(1) Ignore these transactions when preparing investing or financing cash flow entries;
(For example, the shareholder’s loan account would normally require a cash flow entry to report in the financing section of the Cash Flow Statement. The cash flow entry for the shareholder’s loan should not include these non-cash transactions.)
(2) Prepare a cash flow entry to report the non-cash adjustment to net income
(By using S82 for non-cash management fees, for example - requires editing the report setup for s82 – Go to “Trial balance”, Report tab)
Consolidations:
We suggest the following procedure for consolidations:
- Review the mapping in each of the files you wish to consolidate. The mapping numbers must be identical in each file for similar financial statement categories.
- Review the accounts in each of the files. Accounts in one file that are to be matched with similar accounts in another file must be mapped to the same map number in each file.
- Create a new file from the template. This will be your main or default entity.
- From the Engagement menu, select Consolidate.
- Select New to add the files that you wish to consolidate.
- Make the appropriate selections for each file that you wish to consolidate.
- When all of the files are selected and options set, select OK to consolidate the file.
- Prepare your consolidation entries in the default entity.
See the CaseWare Help menu for more details on consolidations.
CAS 315 revisions – Audit update Version 2022.01.
Due to a revision of CAS 315 affecting periods beginning on or after December 15, 2021. There are multiple changes to documents, numbering and the overall flow of the audit. In order to make this transition as smooth as we can, numbers have been left alone on all revised documents but there is overlap between new and previous documents, therefore all unused documents will need to be deleted before the new documents can be added. Attached to the template is 00.2A which details reasoning behind all of these changes and why these changes were made and also see this link for an implementation guide to assist auditors with the updated standards.
Instead of having to follow the Year-end procedures - adopting a new template , which will renew all of the working papers to their default values, which in an Audit file can be overly time-consuming, we have attached optional procedures which will allow your 2021.01 version to match the new template.
In order to update the Client’s Audit files to the newest version, the following documents will need to be deleted before using the “Copy components” function to add in all of the new and revised documents.
Delete: New: Revised:
3A.1 2C.3 2C
3A.8 3A.1 3A
5.0 5.0 3A.2
5.5 – 5.7 6.1 3A.3
6.1-6.8 6.3 3A.7
7.2 8.0A 3A.11
7.6 8.0B 5.1
5.3
5.4
5.8
6.0
7.0
8.0
8.3
8.7
MM.0
For more information or to contact us:
Need more help? Check the FAQ’s on our website for answers to "Frequently Asked Questions". On the “Templates for CaseWare Working Papers” page of the website, select “support”.
D J McNeill Consultants Inc.
Email: support@djmcneill.com
Web: http://www.djmcneill.com
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