Release notes for Enhanced CaseWare®/CICA Review - March 2008
Please review the following information prior to opening the Enhanced CaseWare®/CICA Review template. It is recommended that you print a copy of this document and keep it for reference.
a) If any errors are displayed during installation, please call CaseWare International Inc. Technical Support.
b) Refer to the Getting Started Guide for instructions on updating the PEM “Enhanced” template client files. Detailed listings of the enhancements included in this update are included in this document. Note that there are two templates included on the CD – the PEM “Enhanced” template and the PEM “Standard” template. If you are using the “Standard” template these notes will not all be applicable.
c) Any questions relating to the content included in the forms should be directed to the CICA at 416 977 3222.
The Enhanced CaseWare®/CICA Review template is designed using CaseWare® Working Papers 2006. To use the Enhanced CaseWare®/CICA Review, you need the following:
· Working Papers version 2006.50.527 or higher
· Minimum 256 MB RAM, 512 MB RAM or higher recommended
· Hard disk:
o Minimum 18 MB for Review content/libraries/help
o Minimum 44 MB for each open client file
o Minimum 17 MB for each compressed client file
Working Papers 2006 or higher must be installed prior to installing the Enhanced CaseWare®/CICA Review.
PEM Update #39
Following are the enhancements and modifications between PEM Update #38 and PEM Update #39:
The following changes have been made automatically during the update process:
· The Completion details at the top of the document are now defaulted on, to allow users to see the document completion without scrolling to the bottom of the document. To sign off a document, click on the space below the roles to open the roles dialog, or simply sign off in the Document Manager. To turn off the completion details, go to Options | Display Completion Details.
· Content now saves down to the database to ensure data is retained on any future form redesign.
· Modified guidance text.
· The following folders were renamed as part of the PEM Update #39
o Pre-Engagement Procedures : renamed to Planning
· The following documents have been renumbered as part of the PEM Update #39. They have been moved to the folder “Documents Renumbered in PEM Update” for ease of review.
|
Old No. |
New No. |
Document Name |
|
370 |
375 |
Client / Management letter |
|
425 |
445 |
Independence confirmation letter (8A.2) |
NOTE: If
the document number has been changed from the default CICA numbering by the
user, the document will not be automatically renumbered or moved to the
folder.
New documents
· The following documents have been added as part of the PEM Update #39. They have been moved to the folder “Documents Added in PEM Update” on the Document Manager for ease of review.
o B.115 – Investments – Review Procedures
o 370 – Legal correspondence
· The following document has been removed as part of the PEM Update #39. The document has been moved to the folder “Documents Removed in PEM Update” on the Document Manager for ease of review.
o 375 – Client / Management letter
· The following documents have been automatically renamed as part of the PEM Update #39.
|
Old No. |
Old Document Name |
New Document Name Change |
|
350 |
Client’s representation letter (8A.1) |
Management representations (8A.1) |
|
420 |
Engagement letter (1A.6) |
Terms of engagement (Engagement letter) (1A.6) |
|
445 |
Independence confirmation letter (8A.2) |
Letter of independence (8A.2) |
|
B |
Temporary investments |
Investments |
NOTE: If the document name has been changed from the default CICA
numbering, the document will not be automatically renamed.
The following documents may be replaced as part of the update process. You will be given the option during the update process to select if you want to replace some or all of these documents. The replace process will remove the existing copy of your document and replace with the updated document containing the PEM Update #39 content changes. Any work completed in your current version of these documents will be lost when the documents are replaced.
If you do not wish to replace the documents during the update process, you can select not to replace any documents and copy them from the Document Library into your client file at a later time.
|
Doc No. |
Document Name |
Description of Change |
|
1.1, 1.1A, 1.2, 1.2A |
Sample final financial statements |
o Modifications to the report section of the financial statements
|
|
100 |
Report transmittal |
o Content update in PEM #39 |
|
310 |
Checklist – Review completion |
o Added missing checklist heading |
|
455 |
Deliverables report |
o Singular / Plural functionality fixed o Modified header / footer attachment to fix problem with printing |
|
524 |
Worksheet – Time budget |
o Modified Variance to budget column to calculate based on Current year actual and Current year budget columns |
|
A.105 |
Cash – Review procedures |
o Content update in PEM #39 |
|
B.105 |
Temporary investments – Review procedures |
o Content update in PEM #39 o Renamed to Investments – Review procedures (differential reporting) |
|
C.105 |
Accounts receivable, trade and other - Review |
o Content update in PEM #39 |
|
D.105 |
Inventory – Review procedures |
o Content update in PEM #39 |
|
E.105 |
Loans and advances receivable – Review procedures |
o Content update in PEM #39 |
|
N.105 |
Long-term investments – Review procedures |
o Content update in PEM #39 |
|
U.105 |
Property, plant and equipment – Review procedures |
o Content update in PEM #39 |
|
W.105 |
Deferred Charges, intangibles and goodwill – Review procedures |
o Content update in PEM #39 |
|
AA.105 |
Bank Indebtedness – Review procedures |
o Content update in PEM #39 |
|
KK.105 |
Long-term debt – Review procedures |
o Content update in PEM #39 |
|
UU.105 |
Equity – Review procedures (partnership) |
o Content update in PEM #39 |
|
UU.110 |
Equity – Review procedures (share capital) |
o Content update in PEM #39 |
IMPORTANT: The update process will replace your work programs and checklists if you choose to replace when the dialog appears. If you choose not to replace, an update tool “Check for Updates” can be used. Work programs and checklists must be reviewed on an individual basis and you must determine if you want the updated PEM content to be added to your existing client file, however, this will not update the titles and guidance. The PEM date at the bottom will be removed when using this process as the document may no longer be consistent with PEM 39 content. Refer to the “Getting Started Guide” for more information on this process.
The following changes in PEM Update #39 are not automatically made to each client file and should be reviewed on a client-by-client basis.
· Document Manager
o Folder names and document names are not updated if they were changed from the default CICA wording.
o Document location may not be changed if the document numbers were changed from the default CICA numbering.
· Role Options
o Check the Master file for the updated Roles.
All the above items are automatically updated in the PEM Update #39 version of the master file. In addition, the following changes are automatically made only to the master files:
· Added new functionality to display Notes column in any new firm created work programs
· Updated content for Work Programs and Checklists;
· All documents that can be optionally replaced as part of the client file update process will ALWAYS be replaced in the master file;
· Automatically delete documents that were moved to the “Documents Removed in PEM Update” folder as part of the client file update process;
· The role options were changed to Prepared by and Reviewed by to be consistent with the PEM content;
· Standardized the folder names for PEM name changes and to use capital letters.
PEM Update #38
Following are the enhancements and modifications between PEM Update 37 Release 1 and PEM Update 38:
· Corrected issues where procedures could not be deleted once a response had been entered and then removed.
· Corrected issues with the Insert from Document Library dialog not displaying the correct name of the procedures after procedures had been deleted from the checklist.
· Correcting scripting error when accessing print preview from EP7 – Firm information document
· Correcting issues with the Completion Details text being chopped off when printing from a number of documents within the template.
· Updated all CaseView documents to include the version date as per the PEM, rather than the version date of the template.
· Modified functionality to prevent additions made to the Completion Responses options in the client file from being deleted when inserting a new CaseView document from the document library or through copy template.
The following documents may be replaced as part of the update process. You will be given the option during the update process to select if you want to replace some or all of these documents. The replace process will remove the existing copy of your document and replace with the updated document containing the PEM Update #38 content changes. Any work completed in your current version of these documents will be lost when the documents are replaced.
If you do not wish to replace the documents during the update process, you can select not to replace any documents and copy them from the Document Library into your client file at a later time.
· 420 – Engagement letter
o Addition of new paragraphs.
o Modification of existing text.
o Enhanced permissions to allow inserting page breaks in Enable Editing mode.
· 455 – Deliverables report
o Enhanced permissions to allow access to the Page settings area.
o Enhanced permissions to allow inserting page breaks in Enable Editing mode.
· 350 – Client’s representation letter
o Corrected letterhead and carryforward header issues.
o Enhanced permissions to allow inserting page breaks in Enable Editing mode.
o Corrected the closing signature area issues.
· 370 – Client / Management Letter
o Corrected letterhead and carryforward header issues.
o Enhanced permissions to allow inserting page breaks in Enable Editing mode.
· 425 – Independence confirmation letter
o Corrected letterhead, addressee and carryforward header issues.
o Enhanced permissions to allow inserting page breaks in Enable Editing mode.
o Corrected the closing signature area issues.
· 430 – Letter to predecessor auditor
o Added new options at the top of the letter.
o Enhanced permissions to allow inserting page breaks in Enable Editing mode.
· 460 – Consent letter
o Addition of new paragraphs.
o Modification of existing text.
o Enhanced permissions to allow inserting page breaks in Enable Editing mode.
All above items are automatically updated in the PEM 38 version of the master file along with the following changes made only to the master files:
· Deletion of the following documents:
o A.200 – Bank Confirmation.
o 6.8 – Schedule of unadjusted differences.
· Modified leadsheet grouping to match PEM grouping.
· Updated content for Work Programs and Checklists.
· Automatically replaced the documents that can be optionally replaced as part of the client file update process.
PEM Update #37
The Enhanced CaseWare®/CICA Templates provide exciting new features and significant improvements in functionality, including:
Document Library – the template utilizes the Document Library feature in Working Papers to streamline the inclusion of the content into existing client files. This feature allows you to easily drag and drop the updated template content into any existing client file. The master library can also be modified by the firm and then made available for all client files.
Enhanced Functionality for Programs and Checklists – Programs and Checklists now take advantage of CaseView technology. This dramatically improves the ease-of-use and customizability of these documents.
You can integrate Enhanced CaseWare®/CICA Review with your client data in one of 3 ways:
·
Add to an
existing Working Papers client file
(i.e., copy the template documents into an existing client file)
·
Create a new
file from existing client data
(i.e. create a file based on an existing Working Papers file or an accounting
package)
·
Create a new
file
(i.e. no existing client data at the time of creation)
Adding to an existing Working Papers client file
You can transfer Enhanced CaseWare®/CICA Review into any existing Working Papers client file using the Document Library function in Working Papers.
1. Launch Working Papers and open your existing client file.
2. From the Document menu, select New.
3. From the New Document dialog select From Document Library… Click OK.
4. Use the drop-down menu to select the template.
5.
Highlight the required documents and either click Add or drag and
drop them onto the Document Manager.
Creating a new client file from existing client data:
1. Open Working Papers 2006 and select Create a new file from client data and click OK.
2. Bring in the trail balance by choosing one of three options:
· Client data file – based on an existing QuickBooks*[*] accounting file
· Existing file – based on an existing Working Papers file
·
Other Data
Source – based on
another accounting package
3. Click Next. Choose the file whose trail balance data you wish to include in the new file.
4. Click Next. Enter a new file name for your client file and select the appropriate file as the base file.
5.
Click Finish. All components of the template are copied
automatically to your new client file.
1. Open Working Papers 2006 and select Create a new file and click OK.
2. Enter a new file name for your client file and select the appropriate template as the base file. All components of the template are copied automatically to your new client file.
3. After the copying is completed, the Engagement Properties dialog is displayed. Select the beginning and ending dates for your client’s fiscal year. Click OK.
Below are initial steps each user of the Enhanced CaseWare®/CICA Review template can take:
User
· In the client file, the user completes the applicable documents on the Document Manager. Other required documents can be brought in from the master file through the document library by selecting Insert | New Document | From Document Library from the Working Papers menu.
Firm
· In the master file, the firm's first step is to review the programs and checklists on the Document Manager. The program settings in the document AO – General options should be reviewed.
· Any modifications to the master firm copy of the Review CAD file must be performed at the firm level prior to creating new files for the individual client engagements.