Recommended Global Index

PM 7.2: Audit Procedures FoundationEY Global Workpaper IndexOverview of the Recommended Global IndexWorkpaper index reference CommentsA section Engagement deliverables,control and review - see 1.2for detailsAA Consolidation working papersAA01onwards Workpapers in relation to the audit of the consolidation N/ABSCOTs, walkthroughs and tests of controlsB0.SCOT.1System notes and flowcharts Where SCOT is the abbreviated letters for that SCOT, for example REV for revenue, PUR for purchases etcB0.SCOT.2Walkthrough templates B0.SCOT.3Tests of control documentationBalance sheet accounts C Cash, including bank balancesD Marketable securities/short- term investments The indexes C to VE are in line with current GAMx indexes and relate to both significant and not significant accounts.First sub-sections (e.g., C0, D0, VE0) should be used for indexing lead schedules, with subsequent references (e.g., C01, C02 etc, up to VE01, VE02,VE03 etc) being used for PSPs in numerical order, followed by OSPs.Where more than one significant account exists under a GAMx index, an extra number should be used to distinguish them - for example inProvisions, teams could have P1 for provisions,P2 for accruals, and so on. Indexing would then be:P1_0 leadsheet for provisions, P2_0 leadsheet for accrualsExample indexing/file naming would then be: P1_Provisions workbook P2_Accruals workbookE Accounts receivable, tradeF InventoriesG Prepaid expenses, deferred charges and other assets HInvestments, including investments in affiliatesIIntercompany balances and related party transactionsJ Long-term receivables, non-current deposits and other long-term financial assets KProperty, plant and equipment and related income statement accountsPM 7.2: Audit Procedures FoundationWorkpaper index reference CommentsL Intangibles, including goodwillM Notes payableN Accounts payable, tradeO Income taxes, deferred taxes and related income statement accountsOOT Indirect taxesP Provisions, accrued and other liabilities, deferred incomePWA Warrantee accrualsQ Long-term debt, leases and related income statement accountsR not usedS Derivatives/hedging/ commitments/ contingenciesT EquityIncome statement–revenueaccountsUA Revenue/salesUB Other incomeUC Finance incomeIncome statement–expenseaccountsVA Costs of salesVC Selling and distribution expensesVD Administrative and other expensesVE Finance expensesOtherW Journal entry work X Not usedY Not usedZ Other accountsZ01 and onwards OSPs in relation to other accounts not covered by above indexesPERM Permanent filePERM_I_xx.1Permanent file documents innumerical orderThis is for any documents that need to be retainedone year to the next, filed in numerical order, withI denoting the index (e.g., E Accounts receivable)and xx denoting the year it was put onto the file.PERM_I_xx.2and onwardsNext documentPM 7.2: Audit Procedures FoundationEngagement deliverables, control and reviewWorkpaper index reference Comments A Section -engagement deliverables, control and review A1-Financial statements workpapersA1.1Signed/copy of signed audited financial statements and audit report (if separate) plus other workpapers relating to overall checking of the financialstatements.This will include work in respect of the overall checking of thefinancial statements (including different versions of cashflow statements, footnotes etc). Other workpapers will include the audit report, disclosure checklists, audit work on primary statements and disclosures, etc.A1.2Overall analytical review of financial statements A1.3Segmental reporting A1.4Other public information Including other filings A1.5Trial balanceA2-Quality control/sign offsA2.1Review and approval summary (RAS)If not incorporated into GAMxscreensA2.2GAMx archiving form Refer to local guidance todetermine appropriate use andretention of archive checklists A2.3onwar dsOther checklists/forms that are country specific Local country/Area to determine specifics hereA3-Summary review memorandumA3.1Summary review memorandum A3.1 needed only if notincorporated into GAMx screen A3.2Summary of audit differencesA3.2 needed only if not Incorporated into GAMxA3.2SAD –client communication copy A4-External reporting to clientA4.1Board report/other reports to those charged with governanceA4.2Current year management letter A5-General audit proceduresA5.0Program/form for general audit procedures (PGAP)Indexing here is in line with the Global PGAP template EYG 350,this can all be documented in the PGAP screen.A5.1Preliminary engagement activities:client acceptance and continuance -Engagement agreement -independenceA5.2Minutes and contractsA5.3Inquiry regarding litigation and claimsA5.4Consideration of laws and regulations in audit of financial statements A5.5Related parties A5.6Going concernA5.7Management representationsA5.8Cross-border capital market filingsPM 7.2: Audit Procedures FoundationA5.9Financial institutionsA5.10Environmental mattersA5.11onwardsOther local requirements, as necessaryA6-Internal reportingA6.1Documents received from component teams (we are primary team)A6.2Documents sent to primary team (we are component team)A7-Planning and audit administrationA7.1ASM If not incorporated into GAMx screensA7.2Timetable, budgets and schedulingA7.3Understand the business (UBT)If not incorporated into GAMx screensA7.4Determine needs for specialist skills If not incorporated into GAMx screensA7.5Entity-level control form A7.6Fraud considerations formA7.7PM/TE If not incorporated into GAMx screensA7.8Group instructions sent by us (we are primary team)A7.9Group instructions received by us (we are component team)A7.10Other planning documents as necessaryA8-Matters relating to the next year’s audit A8.0onwardsCarry-forward notes。