Assurance Module
Audit & Assurance
Complete audit engagement management following International Standards on Auditing. From planning to completion, manage every aspect of external and internal audits.
OVERVIEW
Dashboard
Engagements
Clients
AUDIT WORK
Risk Assessment
Testing
Workpapers
REVIEW
Findings
Opinions
Reports
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10
Engagement Types
ISA
Standards Compliant
15+
Working Paper Types
Full
Audit Trail
Engagement Types
Support for external audits, internal audits, compliance reviews, and readiness assessments.
External Audit
Independent Review
Interim Review
VAT Review
B-BBEE Readiness
Employment Equity Readiness
Skills Development Readiness
Safety Audit
Internal Audit
Statutory Readiness
Engagement & Documentation
Manage the complete audit lifecycle with comprehensive documentation and control testing.
Engagement Management
Manage the complete audit engagement lifecycle from planning through completion and reporting.
- 10 engagement types
- Team assignment
- Risk tracking
- Budget management
- Status workflow
Working Papers
Organize audit documentation with 15+ working paper types across all audit cycles.
- Planning memos
- Test documents
- Reconciliations
- Lead schedules
- Review notes
Findings Management
Track audit findings with severity levels and follow through to resolution.
- 5 severity levels
- Response tracking
- Remediation workflow
- Management comments
- Status lifecycle
Control Testing
Document and test internal controls with sampling methods and effectiveness ratings.
- Control register
- 5 sampling methods
- Effectiveness testing
- Exception tracking
- Walkthrough docs
Materiality & Risk
Calculate materiality thresholds and assess audit risk with built-in tools.
- Materiality calculator
- Risk assessment
- Significant accounts
- Risk matrices
- Threshold alerts
Adjustments
Track proposed audit adjustments with journal entries and GL reconciliation.
- Adjustment journals
- GL impact analysis
- Passed adjustments
- Summary schedules
- Approval workflow
Planning & Fieldwork
Structured audit planning with risk assessment and multi-cycle audit programs.
Acceptance & Planning
Structured acceptance procedures and engagement planning documentation.
- Client acceptance
- Engagement letters
- Planning memos
- Team allocation
- Budget setting
Risk Assessment
Comprehensive risk assessment aligned with ISA 315 requirements.
- Inherent risk
- Control risk
- Detection risk
- Significant risks
- Risk responses
Audit Programs
Multi-cycle audit programs with customizable procedures and sign-offs.
- Revenue cycle
- Purchases/AP
- Payroll cycle
- Asset testing
- Bank & cash
Completion & Reporting
Finalize engagements with completion procedures and ISA-compliant report generation.
Completion Procedures
Going concern assessment, subsequent events review, and management representations.
- Going concern
- Subsequent events
- Management reps
- Completion checklist
- Partner sign-off
Financial Statements
Generate ISA-compliant audit reports with notes and AI-assisted commentary.
- ISA 700-720 reports
- Notes sections
- Opinion formatting
- KAM documentation
- Report templates
Audit Packs
Bundle evidence and working papers into organized audit packs for review.
- Evidence bundles
- Organized folders
- Review tracking
- Export options
- Archive management
ISA Standards Compliance
Built to support compliance with International Standards on Auditing throughout the engagement.
ISA 210
Agreeing Terms
ISA 220
Quality Management
ISA 300
Planning
ISA 315
Risk Assessment
ISA 320
Materiality
ISA 330
Audit Responses
ISA 500
Audit Evidence
ISA 520
Analytical Procedures
ISA 530
Sampling
ISA 505
Confirmations
ISA 450
Misstatements
ISA 700
Audit Opinion
Quality & Collaboration
Review workflows, segregation of duties, and team collaboration tools.
Review Workflows
Manager and partner sign-off workflows with delegation capabilities.
- Review tracking
- Sign-off status
- Delegation rules
- Escalation
- Approval history
Segregation of Duties
Identify and manage segregation of duties conflicts and violations.
- SoD rules
- Violation detection
- Conflict matrix
- Exception approval
- Risk mitigation
Collaboration
Comment threads on working papers and findings for team communication.
- Threaded comments
- Mentions
- Review notes
- Query tracking
- Status updates
Audit Trail
Complete audit log with detailed tracking of all changes and activities.
- Change history
- User tracking
- Timestamp logging
- Activity reports
- Export capabilities
Full Feature List
10 engagement types
ISA standards compliance
Working paper management
Control testing
Sample testing
Materiality calculation
Risk assessment
Findings tracking
Adjustment journals
Evidence management
Audit programs
Review workflows
Partner sign-off
Financial statements
Audit packs
SoD conflict detection
Comment threads
Complete audit trail
Multi-cycle support
Report generation
Seamlessly Integrated
Assurance connects with financial data across Khula ERP
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