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InPractice
Audit EXEMPT Manual: the Cost-Effective Method
Is your audit-exempt file documentation adequate?
Do you make a separate file for each audit exempt
Ltd Co client?
Do you have structured tests for that
legalistic declaration on Balance Sheet?
First Version produced in 1995 - with upgrades over
the years it is well-efficient
Companies Act 2006 has introduced changes including:
Overseas parent company, limits, charity matters, section
numbers, etc.
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TESTIMONIALS:
"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.”
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Download the
Presentation |
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. So, most private Ltd
companies do not need to be subjected to a statutory audit.
However, Directors need to sign an onerous declaration on the
Balance Sheet. Most directors delegate this work to their accountant.
Whilst anyone is allowed to carry out audit exempt work, usually
established accountancy firms are appointed to carry out this
professional work.
The accounts compilation file would have accounts preparation
schedules, ledger printouts, a Trail Balance and some notes.
That does different from doing Audit Exempt tests! Since
that is clearly inadequate, it becomes a problem for regulated
practices. |
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Some
regulators would ask to see audit exempt working papers files.
Besides, your working papers file is crucial for your defence
if and when negligence and/or misconduct is alleged in today's
litigious society.
You will be 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 to take 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! |
Updated
annually.
2009 version has a start date as any Day Month in 2008 or 2009
and the ending date any Day any Month in 2009.
All screens and prints will show the accounts period ending
in 2009. For accounts periods ending in 2010, you order the
2010 version when you are ready. |
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Each
successive year's version is upgraded for:
- the latest regulations
- best practice
- new shortcuts we develop
- suggestions by users. |
First the financial statements are
prepared, from a separate software - InPractice
ETB Accounts
Then they are subjected to audit exempt tests by using "InPractice
Audit Exempt Manual: The Cost-Effective Method".
DECISION
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
clients?
Q: Is the value of my time saved worth more than the cost?
Q: Is it worth having an
adequate audit exempt file? Yes / No |
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Platforms:
Windows 95, 98, ME, 2000, XP, 2003, Vista, Windows 7, or higher
Minimum Requirements: Excel 2000, XP, 2003,
2007 or higher
No courses required on how to use it since it is
on Excel and Visual Basic.
Open, edit set up data, tick the boxes, fill in
the required text, print, sign, file.
This manual is not available from bookshops, buy direct from InPractice
Software Ltd.
RELATED PRODUCTS
InPractice Audit Manual: The Cost-Effective
Method
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| Main
Features |
• All-in-one package
• Work Programs quick to prepare, print, sign and file
• Install in one minute
• One license for unlimited number of:
- partners
- computers
- clients
- users in the firm
• Ready-made conclusions to sign-off
• Condensed Disclosure Checklist 3 pages
• Includes Disclosure Checklists for both shareholders
accounts and abbreviated accounts
• Text of related standard letters
• Insert standing data (client name, year-end date, preparer's
name, etc) once for it to appear on all prints
• Entry Password to prevent others altering your work
• Licensee's name embedded in all screens and prints
• Work programs are quick to prepare, print, sign and
file
• Sign-off ready-made conclusions |
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