FEATURES
We offer a variety of features including
INTRODUCTION
As most of accounting softwares in the market allow accounting records to be exported to Microsoft office spreadsheet, AuditSME allows users to import these records directly into system and provides a comprehensive, powerful and easy-to-use data analysis tool that quickly analyzes 100% of your data, speeds your analysis, integrate data with worksheets and therefore paves the way to faster, more effective audits.
The type of accounting records file (spreadsheet) that can be imported are:
Sale transaction journal
Purchase transaction journal
General ledger
Account receivable age listing (local and foreign currency)
Account payable age listing (local and foreign currency)
Inventory listing
STATISTICAL SAMPLING
Easy and powerful tools to apply statistical sampling in your audit works:
Step 1: Generate accounting data with various sampling methods
- Judgemental sampling
- Simple random sampling
- Systematic sampling
- Stratification sampling
- Monetary unit sampling (proportional-to-size sampling)
Step 2: Integrate sampling data with audit worksheets
- Create or select existing audit schedule index
- Auto select customizable (default) audit procedure
- Fill up audited value and perform audit work in the worksheets
Step 3: Sampling projection and evaluation
System can auto generate sampling reports sampling projection, evaluation and conclusion by using
- classical variable sampling (mean-per-unit and ratio estimation)
- monetary unit sampling
PERFORM GAP AND DUPLICATE DETECTION
Gap and duplicate detection can be performed on invoice, sales order or any accounting documents with serial numbers.
(a) Create or select existing audit schedule index
(b) Auto select customizable (default) audit procedures
(c) Perform audit work in the worksheets
Duplicate detection worksheet
Gap detection worksheet
Accounting data extraction and analysis
Easy and powerful tools to extra data from general ledger, sale and purchase transactions journal etc without need to go through physcial inspection of the accounting records
Step 1: View and sort the accounting records instantly either
- by date i.e. identify the last transaction in the year
- transaction description
- by invoice number
- by value i.e. identify the highest value in descending order
User can then print the data or choose to integrate with audit worksheet with just a few click.
Step 2: View and search the accounting records by key words
- related party transactions i.e. name of the related party in sale transaction journal
- transaction description i.e. search EPF in bank account of general ledger
User can then print the data or choose to integrate with audit worksheet with just a few click.
Step 3: Analyze and group the the accounting records either
- by month i.e. to generate monthly analysis
- by date i.e. to generate daily total
- by month and journal type
-
by aging period in AR and AP age listing i.e. overdue > 60 days
User can then print the data or choose to integrate with audit worksheet with just a few click.
Imported AR and AP listing
Imported account receivable (AR) and account payable (AP) aging report became part of audit worksheet sheets.
System provides powerful tools to accomplish the folllowing tedious audit works on AR/AP listing
Merge and combine oversea AR/AP Age listing (foreign currency amount) automatically into AR and AP age listing (local currency)
Provide powerful audit reclassification/contra adjustment tools to reclassify visually from trade receivable to
other receivable | trade payable | other payables (or vice versa).
Once adjustments are completed, system can
- instantly and auto update trial balance and main lead schedules.
- display reconciliation statements between unaudited and audited balances
User can then print the data or choose to integrate with audit worksheet with just a few click.
Auto translation of AR/AP foreign currency age listing with the following powerful features:
- built-in foreign exchange rate tables for past 5 years for auto translation of AR/AP balances using either buy, sell or middle closing rate to quick and painless calculate the unrealized loss/gain.
- once adjustments are completed, system can instantly and auto update trial balance and , supporting AR/AP age listing and main lead schedules.
- allow manually edit the closing rate.
- Built-in customizable audit procedures and allows works to be completed directly on the worksheets on work done column by choosing either
done | pending | error | query | N/A
User can then print the data or choose to integrate with audit worksheet with just a few click.