www.auditdesktop.com
A COMPLETE AND EFFORTLESS AUDIT SOLUTION, REGARDLESS OF THE SIZE OF YOUR PRACTICE
SIMPLE STEPS TO COMPREHENSIVE RESULTS
Why choose us?
AuditDesktop
SIMPLE STEPS TO COMPREHENSIVE RESULTS
ADASOFT IN NUMBERS AND FACTS
23 years 98.5 % 0-day
of experience – since 1993. client satisfaction rate. we start working on your issues the same day as they are reported. More than 90% of the cases are solved on the same day.
24/7
dedicated support. You have a person in our company who knows your business.
5,643
happy clients. Among them are: SMEs and
big
manufactory
government
ministries,
What would you like to achieve?
enterprises, universities,
academic institutes, municipalities and many more.
GOALS
WOULD YOU LIKE TO ACHIEVE …
Complete customer satisfaction.
To provide the small and medium audit companies with the ultimate audit software.
... continued on page 29
more competitive bidding? better communication between your team? better management of your workforce? a more balanced workload? WOULD YOU LIKE TO… have an outstanding audit approach? prevent possible delays? see a 30% increase in your performance? If so, we believe that our audit solution – AuditDesktop – is the right choice for you.
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e ecosystem of AuditDesktop
e adaptive management cycle Identify and monitor performance indicators.
Achieve more competitive bidding. Identify and assess risks. Evaluate the controls. See the whole picture.
„We strongly believe that better results can only be achieved when those charged with governance have the complete information about their business readily available, easily accessible, and on time.” Eleonora Bilbileva, CPA Founder
di ng ne to ss en . h
an ce
Plan more efficiently.
d bi ive t pet s ju m Ad co
ce planning to enhan effectiveness.
Adjust
With this in mind and utilising our wealth of experience, we have designed AuditDesktop – a comprehensive audit solution which combines all the tools necessary to automate the complete process of bidding, planning, conducting and documenting an audit.
The system carefully combines Governance, Enterprise risk management and Compliance
Comply with the ISAs reporting frameworks.
and
Conduct and document audits efficiently.
your
functionalities with Project and Resource management functions, to provide a solution that enhances the performance of audit organizations while making auditor life easier.
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Key features
CONDUCT RISK-BASED AUDIT ENGAGEMENTS WITH EASE
LEAD SCHEDULES AND SECTIONAL MEMOS
Identify and assess risks. Analyse the risk register. Evaluate the controls. Check the risk – controls matrix showing
Lead schedules, automatically populated. Note lines and Financial statements lines. Tickmarks. Sectional memos – recaps for each section on a single click.
all uncovered risks.
Active* risk-driven audit approach based MATERIALITY AND KEY NUMBERS
on ISAs by IFAC. * Activates parts of the audit approach in response to the risks identified and
Materiality determination, materiality indicators.
assessed.
Financial indicators – key numbers for the FROM THE TRIAL BALANCE TO THE FINANCIAL STATEMENTS
company at a glance.
Cross-reference link between material
Automated trial balance import. Consolidation. Graphic analysis of changes in the accounts. Map the financial statements to the trial balance with ease.
Tracking
of
adjustments
items and working papers.
Statements for current period and two periods back, showing the variance for each item.
Sampling.
and
reclassifications.
MORE FEATURES
TECHNICAL DETAILS
Easy Roll-forward. Tasks and Events management. Customizable dashboard. BI friendly database. A convenient search engine. MS Office Integration, custom fields within
Everything in a single database. Encryption. Windows user/Active Directory login. Access control – custom user privileges at
the documents.
Cross-referencing. Tracking issues, findings, observation notes and recommendations.
Summary reports regarding all records during the audit with references to the documents.
Time tracking module.
functionality and audit engagement level.
Easy and intuitive interface. Off-line capabilities. Personalized user interface. Spell-check in various languages. Client-Server. Working on a single computer. Logged information of modifications. Easy to install with just a few clicks of the mouse.
Integration with external systems: ERP, legal systems, etc.
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Our audit approach
7
REASONS WHY YOU SHOULD START USING OUR AUDIT APPROACH.
It is based on the International audit
1
5
standards (ISAs) and best practices.
It is rich.
It saves you time and
money with hundreds of ready to use templates.
It is IFRS® compliant. GAAP® and
2
6
IPSAS® are coming soon.
It
is
completely
and
easily
customizable. It saves you time by automating
It is well organised and completely
3
covers the standards.
7
many
time-consuming
activities
such as: Assessing the risk of the engagement,
4
THE ORGANISATION OF THE APPROACH
It does not require an expensive and
Audit strategy and plan,
time consuming implementation.
The financial analysis,
The audit approach is organized in sections
Each section for substantive testing includes:
Reviewing the disclosures,
each related to the different stages of an
a lead schedule, a model audit program,
Reporting and many more.
audit. It guides the auditor to ensure that
different tests and a sectional memo - a
nothing will be missed.
recap of the work done in the section in a
IN ADDITION, WE OFFER PROMPT UPDATES WHEN A NEW STANDARD OR AMENDMENTS ARE ISSUED.
single click. Section
10
for
instance
includes
the
documents and procedures that are related
More information about the audit approach
to the acceptance or continuance of the
is available on our website.
engagement. Other sections are Planning, Reporting, Control testing and Substantive
We have invested more than $1M, 26 280
testing. The idea of all sections is to assist the
hours and 15 years of experience to develop
auditor easily and quickly to conduct what is
this outstanding audit approach. You receive
required adhering to ISAs procedures.
it for just a small annual fee – a real cost effective solution!
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Your business at a glance
AUDITDESKTOP PROVIDES THE RELEVANT INFORMATION FOR EACH LEVEL OF YOUR BUSINESS.
Engagement managers Engagement Schedules and deadlines. Individual working calendars of each assistant.
Information for Partners: Current state of every engagement. Possible delays and their reasons. Completed engagements with the corresponding sign-off. Issues that are escalated to top level management.
Warning for possible delays and their reasons. Issues that need to be discussed with the team or management. Documents that are finished and need to be reviewed. Audit assistants
The workload pressures and audit resources.
My assignments – tasks, documents etc.
Different Key performance indicators (KPIs) such as planned vs.
Deadlines and unfinished assignments that are close to deadline.
execution of each engagement.
Overdue assignments. Returned documents that need further processing.
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Risk assessment
RISK ASSESSMENT
THE RISK REGISTER
During the planning process the auditor
AuditDesktop
register
item regarding the assertions it was intended
studies the entity in order to assess the
where in one place all identified risks are
for. In the course of the audit, this fine-
business risks and their impact on the
conveniently
the
tuning allows for the automated activation
assertions for every significant accounting
related information regarding the place
of procedures to be performed in response
entry. At any given moment, you are able
of identification, assessment, significance,
to the identification of the risks associated
to identify the risks, which may result
affected management assertions and the
with the assertions. This activates documents
in issuance of financial statements that
impact on the financial statements.
and procedures from the audit approach in
do not give a true and fair view of the
AuditDesktop allows each audit procedure to
response to the identified and assessed risk,
financial performance of the company in
be linked to the relevant financial statement
making the approach active and risk driven.
maintains accessible,
a
risk
including
all material respects. AuditDesktop allows you to identify and assess the impact, probability and the significance of all risks – and the relevant assertions and items from the financial statements that are affected. A
cross-reference
link
between
the
documents where the risks are identified and the risk register makes the audit easy to perform. AuditDesktop allows you to track easily the process from the planning and risk assessment to the procedures, which have been performed in response to the risks assessed.
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Evaluation of the controls
IDENTIFYING THE CONTROL ACTIONS AuditDesktop enables you to identify and assess the control environment of your clients efficiently. On one screen, auditors can define the control actions and to select the risks, management assertions and items from the financial statements that are covered. In AuditDesktop you can classify the control activities by control types – “preventive” or “detect and correct”, and by control components which they refer to.
PRELIMINARY ASSESMENT The Auditor can assess the control environment by several means:
Whether the control action is properly planned Whether the person responsible is suitable Is it well implemented Is it performed in a series After the assessment the auditors issue an opinion whether the control action is effective, and whether or not they are going to test for it or, if they need to plan substantive tests instead.
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See the whole picture
THE RISK – CONTROL MATRIX
RISK HEAT MAP
matches
All check boxes coloured in red indicate
The risk heat map shows the number of
all identified and assessed risks with all
issues that need to be addressed. When the
risks in relation to the likelihood and impact
identified and assessed control actions. This
auditor points the cursor of the mouse over a
score that have been generated during the
enables the auditor to see all uncovered
red colored check box, AuditDesktop displays
assessment process.
risks, the affected management assertions,
a detailed description of the problems that
and also to see the impact on the items from
has been identified. For instance – no control
the financial statements. All this in one place.
tests have been found that addresses the
We call it – “the whole picture” as it enables
existence and the completion regarding an
the auditor to see the whole information and
identified risk, which has an impact on the
to plan appropriate substantive and control
“property plan and equipment” item from
tests in response to identified risks.
the statement of the financial position.
On
one
screen
AuditDesktop
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From the trial-balance to the statements. Adjustments and RJEs. Consolidation and eliminations. TRIAL-BALANCE
STATEMENTS
ADJUSTEMENTS, RJEs
AuditDesktop allows you to import the
Once the trial-balance is mapped to the note
Every audit document is cross-referenced with
on the trial balance, statement of financial
trial balance of the audited entity using the
lines, the ready financial statements can be
the register of errors. It provides comprehensive
position, income statement or disclosure.
most commonly used file formats. We have
seen with a single click.
information regarding all adjustments and
Should errors be accepted and adjusted by
reclassifications, the place where they have
the audited organizations, AuditDesktop
been identified and the nature and impact
allows you to tag them as such.
predefined imports of the most commonly You can mark the material items and plan used accounting software. The system allows a substantive testing or test of the controls you to enter trial balances on a monthly, directly from the statements. This will activate quarterly or other basis. parts from the audit approach in response of The product produces graphic analysis of the
the identified risk, material items and affected
movements in each account. This allows you
management assertions.
to identify unusual movements easily, which AuditDesktop automates the initial and will draw your attention to potential problems. finalizing analytical procedures. AuditDesktop allows consolidation. Auditors The system will automatically calculate can easily make the required eliminations. the ratios of liquidity, cost-effectiveness, On one screen you can see the previous, initial
profitability and other financial indicators
and the final balances combined with all the
associated with the financial analysis of the
adjustments, and reclassifications that have
entity.
been made during the process of an audit.
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Lead schedule, Notelines, FS lines and Tickmarks
THE LEAD SCHEDULES
with the lead schedules. A convenient built-in
Tickmarks can be created for every document,
editor and export to a MS Excel workbook.
account, or entry from the lead schedules.
The lead schedules are automatically populated The auditors can use the most suitable option once the trial balance is imported and mapped for them. Once the information is filled in, it to the notelines. can be recalculated again on request – if for
NOTELINES AND FINANCIAL STATEMENT LINE
You will find a ready lead schedule in the instance, a change in the trial-balance appears. substantive tests section from the audit methodology
for
every
item
from
the
When the trial-balance is mapped to the statements, using the notelines and FS lines the auditor can easily
TICKMARKS
statements. If you need additional lead
trace how the values in the financial statements are
schedules, creation of a new lead schedule is
AuditDesktop supports tickmarks. Auditors can
calculated.
matter of a few clicks.
define a specific symbol plus a description for
On one screen you can see the values from the trial
Using the lead schedules auditors can easily
the tickmark. The tickmarks can be classified
balance, the calculated value and the totals for the
trace the information from the trial balance to
in different classes like: Calculation checks, Not
financial statement lines and the grand totals that form
the statements for every specific item.
material, Not applicable Agreed to prior year
the statements. In addition, AuditDestop provides
AuditDesktop provides two options for working
Clearly trivial etc.
you with the information for any adjustments that have been made through the audit process.
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Materiality, Sampling
DETECT FRAUD WITH BENFORD'S LAW
Benford Data
MATERIALITY
SAMPLING
AuditDesktop provides a convenient built-in
AuditDesktop features a built-in data analysis
The product allows for easy imports of
tool for the determination of materiality, which
and sampling module. The following most
document history from accounting software
can be accessed easily during the conduction
commonly used auditing samples are currently
used, or any other type of population data for
of the audit. The system automatically
available:
research.
calculates materiality indicators which helps the auditor to determine the materiality for the financial statements and the materiality of
the
performance.
The
performance
materiality defined can be used as monetary
Random sampling Monetary sampling – fixed intervals Manual selection Benford's Law, first and second digit analysis
AuditDesktop supports imports for a variety of file formats – csv, txt, xls(x), dbf, mdb, xml, ods and many others, as well as direct connection to the database by using ODBC (ADO connection).
precision for monetary samples.
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Conducting and documenting an audit
AuditDesktop is a convenient tool for conducting and documenting audits. Each audit engagement can be performed using a different audit method, customized to meet the specifics of the engagement. AuditDesktop provides exceptional possibilities for fine-tuning and expanding the audit approach, even during the performance of an audit engagement.
PERFORMING AUDIT ENGAGEMENTS Once the audit engagement has started and
AuditDesktop provides three separate views
the team has been formed, the partner in
for access to the working papers from the
charge of the engagement assigns rights to
audit approach.
each team member, regarding the working
AuditDesktop
papers and the procedures which are to be
various phases of the audit process. All
performed. Each team member can see and
guides
you
through
the
functionalities of the software are accessible
access only the section of working papers
for every document or procedure of the audit
which they have been given access to.
approach:
22 AUDITDESKTOP - SIMPLE STEPS TO COMPREHENSIVE RESULTS
Reviewing / Editing Signing-off Identifying errors in trials balances, Identifying and assessing risks Evaluating the control environment Entering and tracking: Issues, Comments,
Findings
recommendations
Attaching audit evidences Timesheet
evidence collected to each single audit document, reference or element from a checklist or program.
statements or disclosures
Notes,
AuditDesktop allows you to attach all audit
and
All information about the engagement is stored in a single database. Microsoft Office – Word and Excel documents can be opened for review or editing inside the product.
www.auditdesktop.com 23
Method development features
CHECKLIST AND PROCEDURE
MS OFFICE INTEGRATION
QUESTIONNAIRE
Checklists are the most powerful tool for
Microsoft Word and Excel documents are
Questionnaire – customer feedback form.
developing audit programs and procedures
fully integrated in the product. All documents
The questionnaires can be exported and completed by the
in AuditDesktop. Elements can be arranged
are stored in a single database and are
customers without AuditDesktop. The product allows for the
linearly or tree-like. Auditors can respond
accessible with their full functionality in the
setting of assessment criteria and weight for each question, to
with Yes/No/Not applicable, attach files,
product environment. In addition, specifically
facilitate the further assessment of the answers received from the
make notes, findings, observations etc.
designed custom fields are available within
customer.
Information elements can be used to arrange
the documents through which a wide range
the information and cross-reference links can
of information from the current audit is
be set to each element.
available for use and display. Custom fields can provide information about the team
AuditDesktop
allows
adjustment
of member who prepared the document, the
dependencies where references and visible reviewer, Dates, Comments, Issues, Findings, sub-elements may differ depending on each Notes and many others. optional response, thus achieving unlimited possibilities to expand the audit program. The auditor can fine-tune and add elements, steps and cross-references – even during the performance of an audit engagement.
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Reports and Timesheets
TIMESHEETS AuditDesktop
includes
REPORTS an
integrated
AuditDesktop offers a wide range of ready
module for reporting the time invested in
to use reports for analysing and monitoring
audit engagements and in other activities
audit
and projects, which the organization's
reports you can easily track the Findings,
employees are working on. The module
Recommendations, Notes, Questions and
can also be accessible to the organization's
Issues identified by your team during the
employees who are not members of the
audit process. You can also follow the
audit teams.
hyperlink to access the documents directly
engagements.
With
the
built-in
from the reports. The recorded information is used for comparing the planned hours vs. the real
In addition, AuditDesktop features a powerful
time spend on auditing.
built-in editor, which can be used to create additional reports from the information in the
The timesheets can tracked by: audit audit engagements, in the form of random engagement, audit document or procedure, cross-sections. All reports allow the user to set or per client. AuditDesktop allows you to the view and can be tailored and customized track the time spend on different than audit to the smallest detail. activities as well. 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 analyse the information compiled in random sections defined by you.
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Price policy, and Cloud
PRICING POLICY
...continued from cover page
We offer a flexible pricing policy that meets your needs and size of the audit
If you need on-site assistance, we are on our way.
practice. Please contact us and we will prepare a customized offer for you.
No matter where you are on the globe.
Visit Our Website.
We know that every client is different, that is why
CLOUD SERVICES, SOFTWARE AS A SERVICE (SAAS) If you prefer, you can use the software as a service. The advantages are that you do not need to invest money on:
Building your own infrastructure Operating System Licenses Microsoft Office Licenses
we apply an individual approach to the specific
1
Book a free personal presentation.
2
Receive a free one-month trial.
3
Get a quote.
needs of each client. Our software stands out with its high degree of flexibility. We strive to tailor the software according to the specific business needs and activities of the clients, without the need of further development. What’s more – if you are not satisfied - You
AuditDesktop Licenses
will receive a full refund.
Your audit software will be accessible on Mac, PC or mobile device – with convenient screen size running iOS or Android. 28 AUDITDESKTOP - SIMPLE STEPS TO COMPREHENSIVE RESULTS
www.auditdesktop.com
Kemp House, 152 – 160 City Road, London EC1V 2NX +44 (0) 870 182 7957
[email protected] www.auditdesktop.com
Local partner
19, Talabi Street, Off Adeniyi Jones, Ikeja, Lagos +234 (0) 909 915 0151 +234 (0) 805 230 0393
[email protected] www.cpapartners.com.ng