Do you automatically assume that Caseware Audit System can only handle large audits? It’s a common misconception. We’ve equipped Audit System with the ability to audit from the very small to the very largest of entities, while still being true to the intent of the ASAs and providing compliance guidance.
This is the smallest audit we’ve ever tackled
Have you heard of the “OneForm” profile? Based on the profile entered to specific guided questions, our optimiser process can provide the structure and workpapers required for a small audit, while still being true to the ASAs.
So what about an “in-between” sized entity?
When in doubt, always start with the Australian Profile as this will accommodate for nearly all scenarios as required by the ASAs. The OPT – Engagement Optimiser will then help you specify which workpapers are either required or not required.
What do I use for the largest entity I’ve ever audited?
The Australian Profile has been based on the entire ASA suite, with nearly all scenarios included (except for very specialised entities). This profile is your total one-stop-shop, with related worksheets and requirements for each ASA. Your expertise is applying the right industry information and knowledge of your client to the right worksheets in the best possible format and requirement for compliance.
Yes, the compliance of all engagement files is the responsibility of the audit firm and the audit partner
Caseware's Audit System offers you a choice of the “closest starting point”, based on the requirements which you provide to the product to assist you align your compliance objectives for every audit you undertake – very large, or quite small!
If you’re an SMSF specialist, we have a specific SMSF audit product
Want to chat about your requirements? Call us on +61 3 9660 4680 or contact Stephen via email email@example.com.