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Nov. 24, 2023, Jazzit Fundamentals Update / Dec. 8, 2023, PEG Audit Checklists

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WHAT'S NEW
Jazzit Fundamentals release notes for
November 24, 2023 update

 

The modules have been dated November 24, 2023, in your Resource Centre JZUPDATE RC update control.

Remember that Jazzit Fundamentals updates are cumulative. Updating to this release will include all revisions made to the templates.

You must have CaseWare Working papers 2023 installed if you wish to update from the Resource Centre update control in KLIB and FRMLIB. 

CLICK HERE
to view the release notes for full list of new features and functionality
Jazzit Fundamental updates are cumulative.
Remember that updating to this release will include all features and functionality from prior releases, together with any corrections made to the templates.

 


PEG AUDIT CHECKLISTS
updated
December 8, 2023 update

 

The Jazzit PEG Audit checklists have been updated for the 2023 CAS 600 revision. These modules are dated December 8, 2023 in your Audit checklist Resource Centre.

You must have CaseWare Working papers 2023 installed if you wish to update the PEG Audit Resource Centre and Master file.


NEW DOCUMENTS ADDED - THE FOLLOWING NEW DOCUMENTS HAVE BEEN ADDED FOR THIS REVISION

The following documents have been added to the PEG Audit Templates.

  • JZLCA1-JZLCA5 - Group audit - Letter to a component auditor.
  • 300.600 - Group audit - Concluding and reporting.
  • 335.600 - Group audit - Component performance materiality revisions.
  • 400.600 - Group audit – Planning.
  • 410.600 - Group audit - Terms of engagement.
  • 415.600 - Group audit - Using component auditors.
  • 510.600 – Group audit - Identifying risk through understanding the group.
  • 511.600 – Group audit - Understanding the group IT environment.
  • 535.600 – Group audit - Understanding the group information system and communication.
  • 590.600 – Group audit - Engagement scoping.
  • 600.600 – Group audit - Evaluating component auditors and their work.
  • 650.600 – Group audit - Subsequent events.

 

NEW FUNCTION ADDED - GROUP AUDIT SWITCH

A global switch has been added to the PEG Audit Control (JZPCKEYA) and the engagement report options in the Jazzit financial statements. This switch will enable group audit wording and options in relevant letters and checklists. Additionally, documents with a supplementary, incremental or replacement document in CAS 600 now display a “Group Audit: On/Off” cell in the Freeze Frame at the top of the document. Double-clicking this cell will open the control document, allowing it to be turned on or off. The following documents have been revised to contain this function in the Freeze Frame:

  • 420 – Materiality
  • 510 – Identifying risks through understanding the entity
  • 511 – Understanding the IT environment
  • 535 – Understanding the information system and communication
  • 590 – Engagement scoping – Group Audit
  • 650 – Subsequent events

 

JZCADTUP & JZPCKEYA - RESOURCE CENTRE UPDATE CONTROL AND PEG AUDIT CONTROL DOCUMENTS

  • The new documents listed above were added to the document list.

 

JZAFL & JZAPL - AUDIT FINDINGS LETTER AND AUDIT PLANNING LETTER

  • Modified to accommodate group audit wording for CAS 600.

 

MAP & 001 - THE PEG 12-STEP AUDIT APPROACH AND AUDIT FILE INDEX – [SAMPLE]

  • Modified to include group audit content for CAS 600.

 

410 - NEW OR EXISTING ENGAGEMENT – ACCEPTANCE/CONTINUANCE

  • Modified to include group audit content for CAS 600. Refer to CPA Canada’s FAQ for Auditors for more information.

 

420 - MATERIALITY

  • Modified to include group audit content for CAS 600, including component materialities. Ensure that Group Audit is enabled in the PEG Audit Control (JZPCKEYA) or the engagement report options in the Jazzit financial statements.

 

CLICK HERE
to view the release notes for full list of new features and functionality


Need help updating?

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