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Release notes

January 18th release notes

CX-0.5: Identified Risks and Audit Response

The audit response to identified risks, namely procedures linked to these risks, will now be documented in a new workpaper, CX-0.5 (Identified Risks and Audit Response). This enhancement aims to provide both preparers and reviewers with a consolidated view of the audit response, offering a "single pane of glass" for confirming that risks have been addressed appropriately. Previously, users had to navigate through each audit program to view the links between procedures and risks.
This newly introduced workpaper will be integrated into engagements when the "Link Risks to Procedure" feature is activated during the engagement creation process. For engagements already in progress, in cases where no risks have been linked to procedures, the feature can be enabled by accessing the edit engagement wizard via the “Checkpoint Engage properties” option under the “Manage” menu in AdvanceFlow. It is important to note that for engagements containing existing links, rolling forward the engagement to the current year’s title is necessary to enable the new workpaper without losing your links between risks and procedures.

Issues resolved

  • The "Quick Start" feature, designed to streamline the creation of engagements by making assumptions, was not operational for the "
    Audits of Construction Contractors
    ” title. This issue has been resolved, and users can now quickly start audit engagements for the construction contractors industry.
  • When importing Internal Control enabled engagements from SMART Practice Aids to Checkpoint Engage, duplicate significant transaction classes presented in the “Activity-level Controls and Information Processing” section of CX-4.1: Understanding and Evaluation the System of Internal Control”.

This article applies to:

  • Product: Checkpoint Engage