Audit Program 4.0 - User Manual
7. Revising and Finalizing Materiality
7.1 Adding Audit Adjustments
A. Re-Open the Audit Client's COA Mapping Form:
Navigate to the Client’s Folder to locate the COA Mapping Worksheet:
C Drive > AP4.0 > Generated Files > _Bulk_Generation > 2.4 Map_Trial_Balance – COA Form – [X].xlsm
For example:
B. Open the Excel File Containing the COA Form and Put Through Audit Adjustments:
Go to the COA worksheet of the Engagement that you wish to add audit adjustments, or client late adjustment to, and navigate to Columns J to N.
The user may add the first adjustment in Columns K & L, and should there be more than one adjustment, then click the button in Column N, named “Insert Columns” at set out in the screenshot below. Insert as many columns as needed.
Take note that for Column L, you should input Credit Side entries using negative numbers, so that every two columns should have a Zero-Sum.
C. Inserting a New Financial Statement Line Item that was Previously Absent
Suppose that the audit adjustment, or the late adjustments creates a new financial statement line item that was previously not chosen as present when audit planning was performed (i.e. absent from the management accounts, but created after an audit / late adjustment), then the user would realize that the newly created account cannot be mapped to this new Financial Statement Line Item, as it is not available for selection in Column D or E.
The user may copy Cell D4 (Statement of Financial Position) or copy Cell E4 (Income Statement) and paste it to the new row added. Cells D4 and E4 provide a full list of all available financial statement line items, and these two drop down menus are purposefully added to the COA Mapping worksheet to allow users to select from a full list of FSLT options. By copying the cell to the newly added row, the dropdown menu is also copied down to the new row, enabling the user to select from any of the available 100 financial statement line items.
D. Ensure that after adding adjustments, Columns B to E are completed and Ledgers are mapped
After adding the audit adjustments, ensure that every row has been mapped to a financial statement line item in Columns D or E, and that the ledger file names and cell references for voucher date, voucher number, description, debits and credits have been added.