InPractice Audit Exempt Manual - InPractice Software audit manual accounts

Main Features3

• Just enough, just in time!

• Insert standing data (client name, year-end date, preparer's name) once for it to appear automatically on all worksheets

• Unlimited users in your firm

• Licensee's name embedded in all screens and prints

• Install in one minute on unlimited number of computers in your firm

• Use it for unlimited number of clients of your firm

• Takes less than half a day from start to finish

• Work Programs quick to prepare, print, sign to create your work file

• Ready-made conclusions to sign-off

• Frames to record your audit tests

• Mini disclosure checklist of 3 pages

• Entry password prevents others altering your work

• Change currency symbol £ or $ or R or any other

• Coherent work-flow for speedier completion

InPractice Audit Exempt Manual

Written by Jaffer

Monday, 17 January 2011 22:48

Benefits

You will be pleasantly surprised how speedy the "InPractice Audit Exempt Manual" is in the production of the contents of your audit exempt working papers file.

It is designed in such a way that it takes only a couple of hours (after you get used to it).

The user-friendly layout enables junior staff to work with little supervision.

Reduce your production costs to become more profitable.

Reduce your risk of disputes and setbacks!

Decion making

Q: Can I afford to invest in this tool-of-the-trade?

Q: How much is the cost when divided over the number of my audit exempt clients?

Q: Is the value of my time saved worth more than its cost?

Q: Is it worth having an adequate audit exempt file?

Companies Act 2006 exempts certain UK Ltd companies from a statutory audit (turnover to GBP £6.5 million) for accounting periods beginning on or after 6 April 2008.

Companies Act 2006 introduced changes for overseas parent company, assets limits, employee limits. Besides, charity matters and statutory section numbers come into play in certain situations.

A large proportion of private limited companies do not need an annual statutory audit. Directors are required to sign an onerous declaration on the Balance Sheet. Whilst just anyone is allowed to compile audit exempt financial statements, directors usually appoint established accountancy firms.

The financial statements compilation file would normally have:
♦ accounts preparation schedules
♦ ledger printouts
♦ a Trail Balance and
♦ notes.

That does not constitute specific Audit Exemption tests in support of that legalistic declaration on the Balance Sheet. Some regulators do ask to see audit exempt working papers files.

Your working papers file is crucial for your defence when negligence or misconduct is alleged.

Demo Presentation

Financial statements are first prepared from your separate accounts software. Then you can audit them by using "InPractice Audit Manual: The Cost-Effective Method"

First version of this manual was produced in 1995. Ongoing upgrades have made it most efficient

Updated annually

2012 version:

Start date DD-MM-2012
or 2012

End date DD-MM-2012

All screens/prints show

the a/c period ending in 2012

For a/c periods in 2013

order the 2013 version

Each year upgraded for changes in:

- the latest regulations

- best practice

- new shortcuts developed

- suggestions by users

Platform: Windows 95, 98, 2000, XP, Vista, Windows7 or higher

Software: Excel 2000 - 2010 or higher

Delivery: Email sent with a link to click on for an instantaneous download

IT'S WHAT THE USERS SAY THAT COUNTS!

	"Very cleverly done for speedy work completion."

	“I feel more relaxed by using this manual in case my regulator asks.”

	“Prompts to check all essential things in a methodical way.”

Audit Manual Software efficiency Clarity International Auditing Standards ISAs hot cold File Review Financial Statements accounts efficient ETB Exempt checklist Report New Client IR35

Last Updated on Thursday, 05 January 2012 05:03

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