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www.AuditManual.co.uk
InPractice Audit Manual:
The Cost-Effective Method
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Printed notes of ICAEW audit seminar held on 17 June 2010:
"The International Auditing and Assurance Board (IAASB)
have announced that they plan to adopt the new clarified ISAs
from periods commencing 15 December 2009. After consultation,
the UK Auditing Practices Board (APB) has agreed to adopt these
ISAs for periods ending on or after 15 December 2010."
"InPractice
Audit Manual: The Cost-Effective Method" version
2011 is currently being upgraded for Clarity ISAs and is expected
to be available from late October 2010.
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Unnecessary extras
excluded = Less
time spent
User-friendly
program layout =
Less staff supervision
Complies
with ISAs =
Peace of mind
Justification to exclude
sampling = 2 work days shaven off
Upgraded for International
Auditing Standards
Cuts
out 40% of audit work time
First Version produced in
1995; with upgrades over the years,
it is well-efficient.
Just enough, just in time! |
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TESTIMONIALS:
What the users say counts! (Permission to quote has been
obtained):
"I
felt I had lost my way with audits and found that using PCAxxS
was becoming more complex and time consuming. Time spent with
InPractice
Hot File Reviews has helped me to focus on auditing. "InPractice
Audit Manual: The Cost-Effective Method" software proved
to be easier and computer friendly."
Aidan Crilly FCA, Great Bookham, Surrey, U.K. (Regulated by
ICAEW)
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"Thanks
for the email. I have downloaded and all appears ok. After only
a couple of hours last night I think I have the hang of it.
It is just what we need."
Regards,
Steve Miles FCA,
Berry & Partners,
Chartered Accountants,
Leicester, U.K. |
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"We
just had an audit monitoring visit from our audit regulator.
They were happy with InPractice Audit Manual: The Cost-Effective
Method. They also complemented us on our audit files,
and agreed that by us using your audit system we can reach the
same conclusion with less work, and those savings can be passed
onto our clients with more cost-effective audit fees."
Best wishes, Jeffrey Lermer FCA,
Jeff Lermer & Associates,
Chartered Accountants,
Barnet, London, U.K. |
"I
have used "InPractice
Audit Manual: The Cost-Effective Method"
software at a previous firm and was so impressed that I have
convinced my current employer to switch to this software. It
is so much more user friendly than some of the other audit manuals
on the market."
Kind regards,
Andy Evangelou ACCA,
London, U.K.
Dear Sirs,
The cross-referencing of InPractice Audit Manual software is
fantastic.
- Anthoulis Trokoudes, IntelAudit Ltd, Nicosia, Cyprus |
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"I
have started my first audit on your software, InPractice Audit
Manual: The Cost-Effective Method. It does make a lot of difference
in the thinking process and proper documentation of the audit/permanent
file. I used Audxx Plux at a local Big4 practice I worked at.
I found Audxx Plux to be bulky, cumbersome and took a lot of
time to master and implement. I liked your software the very
first few minutes I used it."
Shorab Cadersaib FCCA, Affinity Consultants Ltd,
Mauritius (audit firm who also operate an audit training company) |
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"We decided to
change from the Merxxx audit pack to a more concise audit
pack produced by InPractice Software. The decision to
change was based on the over bureaucratic nature of Merxxx
audit system. We felt the constant to-ing and fro-ing results
in the sign-off sections being left with too many opportunities
to avoid or miss necessary procedures. In addition, the
(Merxxx) pack was over voluminous. There developed a tendency
in the audit team to rely on described procedures rather than
on their own thought processes. For this reason we chose a more
concise pack (InPractice) which has very straight forward sign-off
procedures and is clearer as to what has or hasn't been done."
3-partners ICAEW audit firm, Windsor, U.K. (Name and address
provided - They wanted
an audit
file review from InPractice and we noticed they had written
this to their regulator.) |
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We
have been very pleased to implement the InPractice Audit Manual:
The Cost-Effective Method and our staff find it very user-friendly.
Keep up the good work.
Regards, Jay Dhanjee, Dhanjee
associates & Cie, Mauritius |
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Hundreds
of satisfied users in 31 countries:
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U.K.
Ireland
Malta
Cyprus
Bulgaria
Lithuania
Slovakia |
Botswana
Ethiopia
Gambia
Ghana
Kenya
Mauritius
Nigeria
South Africa
Swaziland
Tanzania
Uganda
Zambia
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Dubai, UAE
Saudi Arabia |
Antigua & Barbuda
Bahamas
Grenada
St Vincent &
The Grenadines
Trinidad & Tobago |
India
Malaysia
Papua New Guinea
Singapore
Thailand |
Updated
annually: 2010 version start date is any Day/Month in 2009 or
2010 and ending date any Day/Month in 2010.
All screens and prints show the a/c period ending in 2010.
For a/c periods ending in 2011, you order the 2011 version.
DECISION
Q: Can I afford to invest in this tool-of-the-trade?
Q: How much is the cost divided over the number of clients?
Q: Is the value of the time saved worth more than its
cost?
Q: Do I want to be more profitable by
using a more
efficient audit manual?
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Each year's version is upgraded for:
- the latest regulations
- best practice
- new shortcuts
- suggestions by users.
First the financial statements are prepared, from a separate
software InPractice ETB Finc Stm Production
and then they are audited by using "InPractice Audit
Manual: The Cost-Effective Method". |
Mini Disclosure Checklist is used
when there is no significant change in financial statements between
the current and the previous year. Long Disclosure Checklist to
be used every three years.
Supplied as a link on email for instantaneous download over the
Internet
Windows 95, 98, ME, 2000, XP, 2003, Vista, Windows
7, or higher
Minimum Requirements: Excel 2000, XP, 2003,
2007 or higher
RELATED PRODUCTS
InPractice Audit Exempt
Manual
Audit
File Review: Hot Review, Cold Review
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| Main
Features |
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• All-in-one package
• Install in one minute
• One license for unlimited number of:
- partners
- computers
- clients
- users in the firm
• Checklist to justify exclusion of transactions sampling
tests
• Speedy planning
• Stress free work style
• Ready-made conclusions to sign-off
• Coherent work-flow for speedier completion
• Frames to record audit tests
• Mini disclosure checklist of 3 pages as a free extra
• Client name, year-end date, preparer's name appear
on all worksheets
• Time budget can be edited in seconds
• Device to exclude over-auditing
• Prompts to exclude under-auditing
• Entry password to prevent others altering your work
• Text of certain standard letters as free extra
• Licensee's name embedded in all screens and prints
• Change currency symbol to any symbol - insert in
Setup page, can be £ or $ or R or any
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