Audit Program 4.0 - User Manual
6. Generating the Audit Files
6.2 Understanding the Working Paper References
A. Index Sections Used in the HKICPA APM Template:
The generated audit files use the HKICPA Index sections as follows. When “Audit Planning” is selected in Step 2. Generate Audit Files, the generated audit files will consist of Sections C to V. When “Revise Materiality” is selected, the generated audit files will consist of Sections B to V, and when “Finalize Materiality” is selected, the generated audit files will consist of all Sections from A to V.
| A | FINAL COMPLETION | |
| B | AUDIT COMPLETION | |
| C | AUDIT PLANNING | |
| D | OPTIONAL PROGRAMMES | |
| E | INTANGIBLE ASSETS | |
| F | PROPERTY, PLANT AND EQUIPMENT | |
| G | INVESTMENTS IN GROUP AND ASSOCIATED UNDERTAKINGS | |
| H | OTHER INVESTMENTS (EQUITY AND DEBT SECURITIES) | |
| I | INVENTORIES | |
| J | TRADE & OTHER RECEIVABLES & AMOUNT DUE FROM RELATED PARTIES | |
| K | BANK BALANCES AND CASH | |
| L | TRADE & OTHER PAYABLES, ACCRUALS AND AMOUNTS DUE TO RELATED PARTIES | |
| M | LONG-TERM LOANS AND DEFERRED INCOME | |
| N | PROVISIONS, CONTINGENT LIABILITIES AND FINANCIAL COMMITMENTS | |
| O | SHARE CAPITAL, RESERVES AND STATUTORY RECORDS | |
| P | INCOME TAXES | |
| Q | EXPENDITURES | |
| R | REVENUES | |
| S | OPERATING EFFECTIVENESS OF CONTROLS | |
| T | SUBSEQUENT EVENTS | |
| V | GENERAL LEDGER |
B. SSP & WP: What Do They Stand For?
When you see SSP and / or WP in the Suffix in Working Paper References, SSP stands for Sample Selection Planning sheet, and WP stands for Working Paper / Test of Details. The generated file will automatically place each related SSP and WP next to each other.
C. How to Read the Tests of Details Working Paper References?
The user may deduce the contents of the tests of details by simply reading the working paper reference.
For example:
Working Paper Reference: J4.14.DR.A.SSP
Title: Sample Selection Sheet on Debits During the Period for the Assertion – Accuracy of Impairment losses on loans and receivables (other than AR & OR)
J4.14 is the Section Reference for Impairment Losses on Loans and Receivables
DR. is a test of details on Debit Side entries
A. is a test of details addressing the Accuracy assertion
SSP is the Sample Selection Planning Sheet for the above Test of Detail.
Working Paper Reference: O4.02.CR.PD.WP
Title: Testing on Credits During the Period for the Assertion – Presentation and Disclosure of Revaluation Reserve
O4.02 is the Section Reference for Revaluation Reserve
CR. is a test of details on Credit Side entries
PD is a test of details addressing the Presentation and Disclosure Assertion
WP is the Working Paper / Test of Details.
| Statement of Financial Position’s Assertions: | |
| C | Completeness |
| E | Existence |
| A | Accuracy |
| PD | Presentation and Disclosure |
| Income Statement’s Assertions: | |
| C | Completeness |
| O | Occurrence |
| A | Accuracy |
| CL | Classification |
| CO | Cut-off |