Audit File

Audit File consists of the following basic and advance tabs

Tab	Purpose	Scope
Basic Info	All header level basic info such as title, audit type, audit period, the audit file preparer, audit file reviewer, etc are entered in basic info tab.	Basic part of all audit files.
Audit Program	It contains a list of audit tasks and its assignee and reviewer, these tasks can be fetched from a template and or added line by line. Once all the tasks are done and reviewed the audit program is marked as complete. An audit file cannot be closed unless the associated audit program is complete.	Basic part of all audit files
Queries	The queries raised during the course of audit and its resolution can be tracked in Queries tab. Audit file cannot be closed unless all associated audit queries are closed.	Basic part of all audit files
Issues	The complications encountered during a course of audit that may need wider consultation within the audit team can be tracked in the Issue tab. Audit file cannot be closed unless all associated audit issues are closed.	Basic part of all audit files
Checklist	Audit checklist consists of questionnaire that enable the audit team to ensure that all required points are covered. Checklists can be fetched from a template or added line by line. Audit program is focused on what needs to be done whereas audit checklist guides on how to execute specific aspects of audit. Audit file cannot be closed unless all associated audit checklists are closed.	Needs to be enabled for specific audit file
Sampling Info	The sampling method and coverage of sampled items can be tracked in the sampling info tab.	Needs to be enabled for specific audit file
Documents	The storage path or URL of various documents forming the working papers are organized in the document tab. The access to these documents are controlled by the security settings of the audit firms cloud storage platform. This enables easy retrieve of the working papers along with maintaining its confidentiality.	Needs to be enabled for specific audit file
Audit evidence	Analysis of audit evidence against applicable auditees assertions can be done in the audit evidence tab. This enables the auditor to ensure that appropriate and sufficient evidences are available to support the audit opinion.	Needs to be enabled for specific audit file
Audit Opinion	The rationale of concluding on any emphasis of matter or on any qualification, etc are tracked in the audit opinion tab.	Needs to be enabled for specific audit file

Creating an Audit File

Pre-requisite: Client

Note: Preparer can send for review, and the Reviewer will approve or reject.

Create Audit File

New Audit File — Creating a new audit file

Fill in the Basic Information to create an Audit File.

Key Points to Note When Creating an Audit File:

Preparer and Reviewer cannot be the same person.
Target Date should be greater than 'Audit Period To'.
Audit File should be unique for each Audit Firm.

Note: Only Audit Manager and Audit Partner can create an audit file.

Audit Program

Here you can directly import the audit program using the "ADD FROM AP TEMPLATE" button.

Note:
* "ADD FROM AP TEMPLATE" will only be visible if there is no Audit Program in the table.

Queries

In the Queries section, users can add their queries.

Issues

In the Issues section, users can add their issues.

Audit Opinion

In the Audit Opinion section, the Audit Partner can add their opinion. Other users can only edit additional information.

Sampling Info

In the Sampling Info section, users can add sample information, such as monetary values.

Documents

In the Documents section, users can add document information.

Note: Document URL format should be correct according to its storage platform.

Advanced Settings

In Advanced Settings, the Audit Reviewer can enable or disable options.

Options Information

Analysis of Audit Evidence: Enables the audit evidence tab.
Checklists: Enables the checklist tab.
Short Close: Allows the audit file to be short-closed when enabled.

Advanced Settings — Advanced settings for the audit file

Audit Evidence

In the Audit Evidence section, users can add evidence along with its related information.

Reviewers can add and approve evidence.
Reviewers can add default audit evidence/assertions from the "Add Default" button.

Checklist

Both the Preparer and Reviewer can add checklists to the audit file.

The default checklist can be added from the "Add Default Checklist" button.

Note: For Adding checklist through "Add Row" button a Checklist Template is Required .

Button and it's Purpose

Button	Purpose
Audit Report Select File	Select File for uploading Audit Report
Audited Financial Select File	Select File for uploading Audited Financial
Signed MRL Select File	Select File for uploading Signed MRL
Audit File PDF	Saving Audit File Details as a PDF
Add From AP Template	Add Audit Tasks from associated AP Template
Audit Program Mark Reviewed	Mark Selected Audit Tasks Reviewed
Audit Program Un-mark Reviewed	Mark Selected Audit Tasks not Reviewed
Audit Program Mark Done	Mark Selected Audit Tasks Done
Audit Program Un-mark Done	Mark Selected Audit Tasks not Done
Audit Program Export	Export Audit Program Details as excel file
Audit Query Export	Export Audit Query Details as excel file
Audit Issue Export	Export Audit Issue Details as an Excel File
Add Default Checklists	Add All Checklists For Associated Checklist Category with selected Reviewer and Preparer
Export Questionnaire	Export Questionnaires of Associated Checklists as an Excel File
Export CHK Queries	Export Audit Queries Associated to Checklists in Audit File as an Excel File
Export CHK Issues	Export Audit Issues Associated to Checklists in Audit File as an Excel File
Close Audit File	Close Current Audit File
Send for Review	Sends Current Audit File for Review
Approve	Approve Audit File
Reject	Reject Audit File

Error You May Get

Error Message	Remedial Action
Audit File cannot be Short Closed because enable short closed is not checked	Check the "Enable Short Close" option to allow the Audit File to be short closed.
Only Reviewer Can Short Close	Contact the assigned reviewer to short close the Audit File.
Only Reviewer Can change Enable Short Close Button	Request the assigned reviewer to enable or disable the Short Close option.
Only Reviewer Can change Enable Checklist Checkbox	Only the reviewer can enable or disable the checklist; contact them for any changes needed.
Only Reviewer and Creator Can change Preparer	Contact the Reviewer or Creator of the Audit File to make changes to the Preparer.
Only Creator Can change Reviewer	Only the creator of the Audit File can assign a different reviewer.
Please provide a reason for the rejection.	Enter a reason for rejecting the Audit File to proceed.
Only Reviewer Can Close	Contact the assigned reviewer to close the Audit File.
Only Assignee Can Submit For Review	Ensure that the assignee submits the Audit File for review.
Only Reviewer Can Approve	Contact the assigned reviewer for approval of the Audit File.
Only Reviewer Can Reject	Only the reviewer has permission to reject the Audit File; reach out to them for action.
Cannot Disable Audit Evidence because Audit Evidence Table is not empty	Clear the Audit Evidence Table before disabling Audit Evidence.
Cannot disable checklists as there are one or more Checklist added to the Audit File	Remove all associated checklists from the Audit File before attempting to disable them.
Audit File should be unique for an Audit Firm.	Ensure that the Audit File name is unique within the Audit Firm.
File URL must start with 'https://' for storage platforms other than LAN.	Update the File URL to start with 'https://' for platforms that are not on LAN.
Preparer and Reviewed By cannot be same	Assign a different person to either the "Preparer" or "Reviewed By" role to avoid conflicts.
Target Date should be greater than 'Audit Period To'	Ensure the target date falls after the "Audit Period To" date.
Reviewer Should be Audit Partner in Audit File	Assign an Audit Partner as the Reviewer for the Audit File.
Audit Period To Should be before Audit Period From	Correct the date so that "Audit Period To" is later than "Audit Period From".
Could not add or update audit tasks as the combination of audit area '{item}' and sub heading title '{assertion_to_be_audited}' already exists.	Check the audit area and subheading title to avoid creating duplicate combinations.
Could not add or update audit tasks as the combination of audit area '{audit_area_title}' and sub heading title '{sub_heading_title}' already exists.	Ensure there are no duplicate combinations of audit area and subheading title in the tasks.
In Audit File '{self.title}', Audit Area '{missing_audit_area_list}' is linked to the following Checklist(s):'{missing_checklist_list}'. The Audit Program have at least one task associated with the audit area '{missing_audit_area_list}'	Verify the Audit Program tasks linked to the audit area and ensure the required checklists are complete.
Sample Coverage by Monetary Value must be between 1 and 100 in row	Set the sample coverage by monetary value within the range of 1 to 100.
Sample Coverage by No of documents must be between 1 and 100 in row	Set the sample coverage by the number of documents within the range of 1 to 100.
Audit Type is disabled	Enable the Audit Type to proceed with the Audit File.
One or more audit tasks in the audit program is not marked as complete	Mark all audit tasks as complete before finalizing the Audit File.
Qualification' table is required when 'opinion_type' is 'Qualified Opinion'	Add entries to the "Qualification" table if the "opinion_type" is set to "Qualified Opinion".
Audit Evidence Table cannot be Empty if Analysis of Audit Evidence is Enabled	Add relevant data to the Audit Evidence Table if "Analysis of Audit Evidence" is enabled.
If Unqualified Opinion is selected and Analysis of Audit Evidence is enabled then Eligible for Unqualified Opinion in Audit Evidence Tab should be checked	Check "Eligible for Unqualified Opinion" in the Audit Evidence tab when both conditions apply (Unqualified Opinion and Analysis enabled).

Error Message	Remedial Action
Cannot create or update query as user is not associated to checklist	Ensure the user is associated with the relevant Checklist before creating or updating the query.
Audit Queries cannot be created since checklist is closed.	Reopen the Checklist if modifications are necessary, or ensure the Checklist is active before creating a query.
Cannot create or update query as user is not associated to audit file	Confirm that the user is associated with the relevant Audit File before creating or updating the query.
Conclusion should be mandatory on submit	Provide a conclusion before submitting the Audit Query.

Error Message	Remedial Action
Cannot create or update issue as user is not associated to checklist	Ensure the user is associated with the relevant Checklist before creating or updating the issue.
Cannot create or update issue as user is not associated to audit file	Confirm that the user is associated with the relevant Audit File before creating or updating the issue.
Conclusion should be mandatory on submit	Provide a conclusion before submitting the Audit Issue.