How do I Roll Forward an Engagement File?

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Note:  There is only one correct way to roll forward an engagement file (whether it is an audit or financials file).

Follow the steps below:

  1. From the 'CaseWare' menu select  Engagement | Year End Close. The 'Year End Close and Roll Forward' dialog will appear.
  2. Press the Browse  button within the 'File to be Used for Next Year' area. The 'Open' screen will appear.
  3. Assign a file path (i.e. if the default path is incorrect), using the Look in  pick-list.
  4. Enter a File name  for next year's engagement file.
  • Press Open  to return to the 'Year End Close and Roll Forward' screen. Your selections should now appear at the top under  File Path   and File Name .
  • Tick Update prior year balance data  under the 'Roll Forward Options. This option ensures current year balances in this year's engagement file, become prior year balances in next year's engagement file.
  • Tick Update CaseView Roll Forward Cells  under the 'Roll Forward Options. This option ensures all input notes within your Financial Statements (e.g. Contingent Liabilities) or other input cells that have the roll forward option specified, are updated.
  • Press OK  to begin the process. The year-end close will now begin. Once it has finished, CaseWare will navigate you to the new rolled-forward engagement file.
  • Note the following:

    • The Year-end close process will  keep  all documentation within the document manager unless the Roll Forward  option was disabled within the document properties. By default all documents are kept.

  • The Year-end close process will  clear  all issues within the engagement unless

    the  Roll Forward   option was selected within the Issue Pane. By default all documents are cleared.

  • (Audit only) The Year-end close process will  clear  all risks / controls within an engagement file unless the Roll forward  option was selected within the Risk / Control dialog. By default risks and controls are cleared.

  • Other optional controls that can be used during a roll forward

    • Compress prior year file: tick this option to run a compression on the engagement file for this year once the new year's file is created.
  • Update next year's opening balance data with:  this option  should only  be ticked if transactions are to be recorded in next year's engagement file. If balances are to be imported, leave it  unticked .
  • Roll Forward Forecasts:   Tick this option if you want the next year's forecast amounts in the current file to become the current year forecasts in the new year's file.
  • Roll Forward Budgets:   Tick this option if you want the current year budget amounts in the current file to become the prior year budgets in the new year's file.
  • Roll forward all Custom Balances:  Tick this option to roll forward custom balances based on whether the custom balance is set to current/past or current/future.
  • Update current year Budgets with Forecast:   Tick this option if you want the next year's forecast amounts in the current file to become the current year budget amounts in the new year's file.
  • Posted - Tue, Jun 17, 2014 at 3:54 PM. This article has been viewed 7858 times.

    Source: www.caseware.com.au

    Category: Forex

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