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In an audit scenario, as per SA 230, Auditors have to manually record their comments and audit-related tasks along with their clients’ inputs supporting audit conclusions. This leads to a large numbers of documents to manage. The Audit Working Paper (AWP) feature in Tally.ERP 9 Auditors' Edition eliminates this.
Keeping in mind the nature of the audit workflow, we have built enough flexibility into this feature to assist Auditors throughout the audit. |
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Highlights :
Flexibility of the feature
Auditors can copy verification or working notes provided for particular vouchers/ledgers to AWP. Tally also provides the flexibility of editing notes from within AWP or from the individual voucher/ledger.
Consolidated Audit Working Paper
AWP will have a complete list of notes (displayed category-wise) entered by Auditors along with response from their clients arranged chronologically.
Secured access to the Audit Working Paper
Auditors can control their audit team's access to the Audit Working Paper based on actions to be performed (Alter, View, Print, All), or be the sole owners of the document..
Benefits :
• All audit related comments, observations, clarification and working notes are in single repository
• Eliminates the manual entry of comments/notes by Auditors & their clients
• It helps in Audit Documentation (SA 230) required for peer review
• Saves the need for storing and maintaining voluminous amount of working paper files
• A single document for tracking/proofing purpose even after the Audit is over
• Better clarity via a display of audit flow for individual transactions in AWP
• Controlled access to observations/comments
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