startCCH Audit Automation: Advanced Consultancy on site (10102641)
How To

CCH Audit Automation: Advanced Consultancy on site (10102641)

CCH Audit Automation
Last update: Reading time 3 minutes
ConsultancyCourse Outlines
    These two onsite sessions will involve understanding your business requirements around CCH Audit Automation. The sessions provide an opportunity to review your processes and policies with the guidance of our experienced consultants.

    Overview

    The single practical interactive onsite session will involve understanding your business requirements around CCH Audit Automation. 
    The session provides an opportunity to review your processes and policies with the guidance of our experienced consultants. 
    Our consultancy provides knowledge to enable decisions regarding key features and functions. 
    The participants must have a clear understanding of their business's requirements and policies in these areas. 

    The example contents below provide a range of choice and will be discussed in more detail with your account manager.  
    Prior to the consultancy, your consultant will arrange a pre-call with you to determine whether the contents will be covered in full or an agreed selection of content to the appropriate level in the time available.  
    Depending on your chosen content, the consultancy may extend to implementing the features fully, or train the participants to carry out these configurations themselves. 
    Your consultant will follow up with an agreed agenda. 

    Course Duration: This session will last up to 6 hours.

    These two onsite sessions will involve understanding your business requirements around CCH Audit Automation. The sessions provide an opportunity to review your processes and policies with the guidance of our experienced consultants.

    Key Objectives

    • To investigate your needs, wants and future expectations
    • To review relevant processes 
    • To advise on the best use of the functionality
    • Assist with any revision of firm's standard processes

    Course Contents

    • Master Pack Administration
    • Master Pack Editing
    • Import of Trial Balance from 3rd Party accounts systems
    • Reporting across audit files via CCH Central
    • Full Risk Model & Sample size functionality
    • Data Security using CCH central
    • Course exercises - working through these to consolidate product knowledge

    Note: The consultancy contents above are examples only. Your consultant will contact you to agree an agenda for your requirements. 

    Pre-requisites

    Attendees should adhere to the Training session Guidelines.

    All participants should have a good understanding of CCH Audit Automation. They should also have a good understanding of Auditing. Need access to your system and up to date version software.

    Who is this course designed for?

    CCH Audit Automation users who wish to implement the more advanced features 

    Useful Resources

    • eLearning courses - online courses that provide you with an overview and insight into our software
    • Bitesize videos - Compliance and Non-Compliance - showing you how to use features (and also some specific focused areas) of our software 
    • Webinars - sessions for you to attend and learn from
    • Customer Onboarding Glossary - Our terminology explained for customers

    Related documents

    Inherent Risk Questions
    This document outlines the process for assessing inherent risk in clients through a systematic approach of questions. The system can store up to 99 risk areas, each containing 99 questions, which are assigned point scores for "Yes" and "No" answers. It details steps for editing, adding, and deleting risk areas and questions, including interface navigation and confirmation prompts. Additionally, it emphasizes that once numbers are assigned to risk areas or questions, they cannot be changed. The document serves as a guide for managing inherent risk assessments effectively.
    Audit Risks
    This document details the functionality of CCH Audit Automation for recording Identified Audit Risks, also referred to as Significant Business Risks. It provides instructions for users to add, edit, and manage risks, including features for maintaining risks for future audits, assessing their significance, and linking them to assertions. The system includes tools for risk assessment, audit response, and documenting conclusions. Other functionalities encompass risk summarization, printing options, and risk linkage across multiple sources, enhancing the audit process's efficiency and accountability.
    Default Specific Risk Questions
    CCH Audit Automation allows users to define specific risk questions for audit areas, although it's not mandatory. If no specific questions are set, default questions will be used. Users can edit the default questions through the "Specific risk questions" option in the Risk Model section. Up to 99 default questions can be defined, similar to inherent risk questions. The system utilizes a lookup table that combines specific and inherent risks for audits, with editing instructions provided in the manual.
    Risk/Sample Selection
    This document outlines the concept of audit risk, defined as the likelihood of undetected material errors during an audit. It introduces a risk model used in Audit Automation that requires total audit risk to remain below acceptable levels across various audit areas. The risks are broken down into inherent risk, control risk, and detection risk, with further subdivisions for detection risk. It emphasizes the importance of understanding these concepts to design effective audit procedures and assess risk at different levels. Additionally, it discusses general and control environments, and the calculation of residual risk, alongside a risk scoring system.
    Inherent Risks
    The document outlines the procedure for addressing inherent risk questions in an audit context. Users can access a dedicated window to view up to 99 risk areas, answer questions, and modify responses as necessary. The system prompts users to validate changes to ensure proper risk assessments. It includes functionalities for viewing prior comments, copying text, and overriding calculated risk levels, emphasizing that auditor judgment is crucial. Comments on overrides must be provided to rationalize any adjustments made. The document serves as a guide for navigating and utilizing the auditing software effectively.