PROBE MMX

Can I perform a copy components(template) on only one Probe document?

It is not recommended to only perform a copy template on one Probe document.
 

If you are however experiencing problems with a particular document in Probe you can perform a copy template, but you must ensure that you copy in a document that is on the same version as your client file.

I performed a copy template, why is my document is empty/partially completed?

Information in Probe are stored in one of two places:
 

1. The CaseView Document
   Information stored in the document are information for documentation purposes only, eg. descriptions, references and procedures.
   This information will copy over to your new client file if you perform a copy template.

2. The CaseView Database
   Information stored in the database are information that are interdependent, eg. ROMM, risks, controls, Yes/No answers.
   This information will NOT copy over to your new client file if you perform a copy template.



If I right click to change the name of a document and go into properties, there is a CV Group option. What is the "CV group" option under properties of this CaseView document?

This is to link the document to the database. As this is CaseWare functionality, you do not need to use this or enter any data in this field.

Do you have template documents that we can use for test of control and substantive sampling?

Yes we do.
Our template documents are stored under section 90.

Remember:
These documents are templates and should be copied into the relevant sections.
Once you have copied it to e.g. Trade payables, right click on the document and go into properties to change the reference of the document. E.g. 51.75.

The first two numbers must always be the section you are in, 20/21/22...



Is there a faster way to insert more than one row in Probe documents?

No, the only way to insert rows/procedures into the Probe documents is by right-clicking and inserting one row and a time.

What “hot keys” are available in Probe?

You can use "Y" or "N" in drop downs for "Yes" and "No" as well as "L" for “Low”, "M" for "Medium", “H” for “High”. You can also use “A” for a “√” and “R” for an “x” in the controls testing and substantive testing worksheets.

If you answer Yes/No in a Probe document, do you need to complete the description section?

That really depends on the question whether you have to give a further description.
If the question asks. “is it the first year of trade”, and you say "Yes" then I wouldn't necessarily insert a comment; but if it asks you whether management acted ethically and you say "No" then I would insert a comment. Always bear in mind that when you have a file review, the reviewer will look at the documentation in your engagement file.

I need the design mode password to make changes?

ProBeta has taken the decision not to allow design mode changes to all Probe documents.
 

Bearing in mind that there are some changes users will have to make, we have ‘unlocked’ various functions within form mode (change audit procedures, hiding procedures, paragraphs, etc.).

​
In the newer versions of Probe (2010.07.04 and later) users have access to the design mode for the documents where some significant changes may be necessary.
1. Engagement letter
2. Representation letter
3. Minutes
4. Emoluments certificate
5. Bank confirmation letter

Does ProBeta have a template for a Body Corporate and Attorneys Trust Audit?

We do not have a template for Body Corporates.

We do have an Attorneys Trust Template called Probe Attorneys. 

You can call CQS on 011 507 0000 to arrange for a demo or to purchase the template.

My planing documents have no figures and why are they not showing my adjusting entries?

The planning figures reads off the Opening balance and the transactions column, so you can use the "Other entries" to pass journals from an accounting point of view.
The reason why we do not use the adjusting journals in the planning is because auditors pass journals throughout the audit and this then affects the planning figures.

Can I renumber or delete Probe documents?

No.

The only documents that were designed to be renumbered and renamed are the documents in section 90 (Templates)



Due to the interdependence of Probe documents if you delete or renumber documents you may end up breaking your file.



If you feel that a document is not required for your client you can create a new folder in the Document manager, e.g. "Unused documents" and move those documents to that folder.

When I close certain documents I am not prompted to save, are my work going to be lost?

No, you will not lose any data and you do not have to click on the save icon.



The data is saved to the database immediately when a change in the document is made.

For SmartSync users data is also immediately synced to all the other connected copies of the file.

Do my country have localised content in the Probe MMX template?

The following countries have localised content in the Probe MMX template:

My document 01.60 Minutes does not have any content, what can I do to fix this?

Don't worry, we have a hotfix.

Click here to download

The hotfix will correct the document 01.60 Minutes not showing any content in the document after running the latest update.

HOTFIX DOWNLOAD AND INSTALLATION INSTRUCTIONS

• Click on the above link to download the file then save the file to your desktop

• Make sure all instances of CaseWare Working Papers and CaseView documents are closed

• Double-click on the hotfix file and run the installation

• Open the engagement file in CaseWare Working Papers, then proceed to open the 10.10.02 Firm Settings document

• In the Firm Settings select Enable Special Features and click on Activate next to Other

• Type in the code: MMXHOTFIX2

• Close your Firm Settings and open document 01.60 Minutes to confirm that the document now has content

Can I use Probe MMX to audit interim audits?

Yes, you can:

Please see our pracrical examples below:

1. Complete your interim audit and batch export the documents to pdf on which work was done where you don't want figures to change between interim and final.  After the export you can re-import your final figures and continue with the final audit.

2. After performing the work of the interim audit,  create a copy of your interim file and in the new copy re-import your final figures and continue with the final audit.

Other considerations:

After creating a CaseWare file for your interim audit and you have imported the clients interim trial balance you can complete the planning documents normally, except for the materiality (10.60) and the analytical review (10.52) documents, these two documents will require more work.

During your final audit you will have to revisit the interim planning and risk assessment and assess whether there is a need to change the audit approach chosen during the interim audit.

• For materiality you have to adjust your figures for the year, i.e project a yearly figure and base your materiality on this projected figure. Once you perform the final audit you should assess whether your materiality was reasonable and if not, assess whether sufficient work was performed during the interim audi and whether further work needs to be performed.

• Analytical review,  you will either have to project figures for a year, compare figures for the same period in the prior year or take into account that figures are only for a certain period every year, eg. 8 months.

For the work programs you have to assess the procedures to be performed carefully:

• Ignore(Hide) steps in the work program that can only be performed at the final audit and then switch them on again for the final audit. 

• Skip procedures which will be performed at the final audit and insert comments stating why steps were skipped.

• At the final audit you will have to tailor your work programs, as you might have to insert procedures where figures were projected for the year to compare them to the actual figures Or where eg. stock takes were done at the interim audit, the stock should now be "rolled forward" to take into account sales and purchases of stock.

Why do I get a warning about a demo period and my documents are locked when I open my documents?

This means that you do not have the correct Probe Licence on your computer.

When installing the templates you will be prompted for all your license codes.

These license codes can be obtained from your CQS/CaseWare Africa license statement or your sales representatives.

Please always ensure that you insert all the license codes purchased when installing the template.  You also need to ensure that if you are installing the 2012 template, you insert the license codes from your 2012 license statement and when installing the 2014 template, insert the codes from the 2014 license statement.

If you do not want to reinstall your templates you can also insert your license codes by:

Openening document 10.10.02 - Firm settings

Click on the 'Enable special features' tab

Click on 'Activate' next to other

Insert your license code and click 'Ok'.

Your documents should now be unlocked.

What is the difference between special purpose financial statements and general purpose financial statements?

General purpose financials are prepared on a general purpose framework which is a framework that provides information to a wide range of users. It may be a fair presentation framework, i.e. IFRS or IFRS for SME. A special purpose framework is a framework that provides information to a limited range of users or specific users, e.g. it can be if you prepare financial statements for your management accounts.

Why do I not see the IFRS or IFRS for SME framework in my drop down selection?

The IFRS or IFRS for SME will only show if your firm has bought the template add-on.  
If your firm has bought the template, but you still can't see the options make sure that you have entered all the license keys received from CQS.

What are the major differences between the "small" and "large" methodology?

The biggest difference between the two is that for a small entity you can select which items you want to address during planning; i.e. if I decide there is no/low risk for Interest paid then you don't select this lead schedule in 10.50 as an item for which you want to do a risk assessment.  Therefore you don't have to deal with Interest paid anywhere in planning and the default risk for the items not selected in 10.50 are assessed as low. In the methodology for a large entity you have to assess risks and address all items in planning.

In terms of the small methodology, we ensured that Probe complies with the documentation paragraphs of the ISAs.  We therefore assume a level of knowledge of the standards and that the auditor will follow the auditing standards but not necessarily document more than what the minimum requirements of the standards are.
 

When selecting "Small" in the engagement evaluation, it asks to select sections that are relevant, when is it relevant?

When auditing a "small" entity, the sections ticked as relevant are for you to complete your risk assessment procedures. Therefore, those sections will pull through to planning i.e. 10.51, 11.60 and 12.20. If you have not selected a section as relevant, you would still complete the audit program. Therefore, we select the sections relevant for our risk assessment.

The sections not selected will there pull through as low risk.

In 10.51, what is meant by the question "Are controls in this section relevant to the audit?"?

Relevant controls are:
• Controls over significant risks.
• Controls over risks where non-substantive procedures are required.
• Others as decided by the auditor.
​

The first two types are recorded in 11.61 and guidance about the last two can be found in ISA 315 paragraphs 90 to 94:
​

A90. The auditor’s judgment about whether a control activity is relevant to the audit is influenced by the risk that the auditor has identified that may give rise to a material misstatement and whether the auditor thinks it is likely to be appropriate to test the operating effectiveness of the control in determining the extent of substantive testing.
​

A91. The auditor’s emphasis may be on identifying and obtaining an understanding of control activities that address the areas where the auditor considers that risks of material misstatement are likely to be higher. When multiple control activities each achieve the same objective, it is unnecessary to obtain an understanding of each of the control activities related to such objective.
​

A92. The auditor’s knowledge about the presence or absence of control activities obtained from the understanding of the other components of internal control assists the auditor in determining whether it is necessary to devote additional attention to obtaining an understanding of control activities.
Considerations Specific to Smaller Entities
​

A93. The concepts underlying control activities in small entities are likely to be similar to those in larger entities, but the formality with which they operate may vary. Further, small entities may find that certain types of control activities are not relevant because of controls applied by management. For example, management’s sole authority for granting credit to customers and approving significant purchases can provide strong control over important account balances and transactions, lessening or removing the need for more detailed control activities.
​

A94. Control activities relevant to the audit of a smaller entity are likely to relate to the main transaction cycles such as revenues, purchases and employment expenses.

How do I delete a risk?

Risks can be deleted by placing your cursor on the risk, right-clicking and selecting Edit risk.
You will be directed to the risk dialog where you can right-click on the risk and select Delete this risk.
Risks can only be deleted from section 10 to section 12 documents.

I do not want to perform tests of controls, yet 12.20 indicate that I must perform tests of controls.

When you indicate in 11.50 that you want to place reliance on a specific control activity it is compulsory to test that control. Therefore, the only way to change the audit strategy with respect to tests of controls is to change your answer to the question in 11.50.

If you open 11.50 and still cannot see the control activity that you need to test and therefore cannot unselect it, it probably means that the question was answered and thereafter 10.51 was changed to say there are no relevant controls in the section.

To correct this you need to reopen 10.51, indicate that there are relevant controls in the section, make the appropriate change in 11.50 and change it back in 10.51 if necessary.

I cannot see current year balances in 10.52 or 10.60.

Make sure that you have not deleted the Probe Firm Settings document - if you did, perform a copy components and copy it back into your file.

Go into your 10.52 document.  See if there are any overridden values (red dot) in any of the Analytical Procedures tabs.
If there is, we suggest you perform a "copy components" and copy in the 10.52 document from the template.(If you require any assistance with this, you can contact support@cqs.co.co.za or probesupport@probeta.co.za.

After you performed this procedure, please go into your 10.52 document and ensure that there are no more red dots, thus overridden values.

If there are still some overridden values, right click on the red dot and remove the overridden value.
You will now see that the values pull through correctly to your 10.52 document and 10.60.

If you know that you are only going to do substantive testing you will say "NO" to all relevant controls in 10.51 (except for related parties)?.

No. You first have to asses whether there are relevant controls and then you decide whether you will be able to place reliance on the controls.

Do I use performance materiality or specific materiality in planning and performing the audit?

You assess performance materiality in 10.60 and this is the default for specific materiality; but you can lower it even further for a specific line item. This is done in 11.60. Therefore, you use specific materiality for planning and performing your audit.

What is the impact of document 10.50, if I choose assess risks as ‘Yes’, on all the other work programs?

When auditing a small entity, the user has to decide whether he wants to do a detailed risk assessment for a balance. For items not selected, the risk for that item defaults to ‘Low,’ and only required procedures will be performed on this balance.


However, on the work program, the user can change the type of procedures performed if insufficient evidence was obtained from only performing required procedures.

This can be done by changing the risk assessment in the conclusion part of the work program.


For items selected in 10.50, the user has to perform a risk assessment; therefore address the balance in the following documents: 10.51; 11.50 (if relevant controls exist); 11.60 and 12.20.


In this case, the user then at planning stage decides which type of procedures to perform.
The default is still Required procedures; i.e. the user always performs required procedures.

Is there a limit on the number of risk you can raise in a section?

No there is no limit.



You can generate as much risks as required by cliking on the "Add new risk" button.

How is Risk of Material Misstatement (ROMM) calculated?

We have a very nice video on ROMM (Risk of Material Misstatement) on YouTube, click here to watch.

Risk of material misstatement is made up of the following:
1. Risk assessment at assertion level for inherent risk – 11.60
2. Risk assessment at assertion level for fraud risk – 11.60
3. Specific materiality for the line item – 11.60
4. Risk assessment at financial statement level for inherent risk – 11.20
5. Risk assessment at financial statement level for fraud risk – 11.40
6. Risk assessment at financial statement level for control risk – 11.30

If a section is material you can never have a ROMM lower than medium.

I am not able to insert/add new risks in document 11.60 Risk assessment at assertion level after importing my data, what can I do?

It is not reccomended to import data from older versions of Probe MMX.

Perform a compy components and copy document 11.60 from the template to your client file - you will retain all your data.

The document should now allow you to add new risks.

Why am I not able to record risks in document 10.50 Gathering information?

Unfortunately the record risk button is not working for the 'Accounts and balances for detailed risk assessment' tab.  You can however still record a risk manually.
 
Insert the document reference number (underneath the record risk button) to where the risk should be recorded:
11.20 for Inherent risks
11.30 for Control risks
11.40 for Fraus Risks
11.60 for Risks at assertion level
 
After you have inserted the reference your record risk button will change to show that a risk is associated with that line item.
Now click on the reference and record your risk.
After recording the risk you can click on the back button to go back to 10.50 Gathering information.
 
This will only effect clients who are performing an audit on a small entity and will be corrected in the next 2014 release.

Why is my risk/significant risk not pulling through to my work program?

Only significant risks will pull through to your work program.  Your non-significant risks will pull through to your 02.00 Partner sign-off.

Open 11.60 Risk Assessment at Assertion level and ensure that you have selected the risk to be significant.

If the risk is significant and it is still not showing in the work program you might have a template conflict on your computer.  This will happen when you install and use two different versions, eg. 2012 and 2014 of Probe MMX templates with only one installation of CaseWare, eg CaseWare 2014.

This is not best practice and we recommend one of the following:

• If you want to use the 2011/2012 version of Probe MMX only, you must re-install the 2011/2012 install set (template only). Your 2014 files will then not work.
   

• If you want to use the 2014 version only, you must re-install your 2014 install set (template only). Your 2011/2012 files will not work
   

• If you want to use both templates at the same time, you have to install CaseWare 2012 and CaseWare 2014 with their respective templates to different folders on the computer.  You then have to open your Probe MMX 2012 files with CaseWare 2012 and your Probe MMX 2014 with CaseWare 2014.
   

• If however you do not want to install two instances of CaseWare and Probe MMX you will have to update your 2011 audit programs to 2014 via Copy Components. 
  You will lose all the information currently in your 2011 audit program, so please make a backup/pdf print of the 2011/2012 audit programs before you do the copy components.

I do not have any content in 11.60 - Risk Assessment at Assertion level, why is my document empty?

This will happen if you if you jump between documents a lot or did not complete the documents in chronological order.
 
Start by closing all open instances of CaseView.
 
Now open document 10.20 Engagement Evaluation. This will allow your client file to refresh the type of engagement (Audit/Review) as well as the balances in the working trial balance.
 
After the recalculation you can open document 11.60 - Risk Assessment at Assertion level, your tabs and sections will now show. 
 
PS - For small audits only sections selected for detailed risk assessment in document 10.50 - Gathering information will show in document 11.60 - Risk Assessment at Assertion level.

Why does my document 10.52 Preliminary analytical review not show any content/figures?

Please make sure that you have not deleted the Probe Firm Settings document from your file.  

If you have deleted the document you can bring it back by copying it back in using the 'Copy Components' functionality in CaseWare.

The Probe MMX documents are all linked and require each other to function.  Please make sure to never delete any of the Probe MMX documents, but rather move the documents to an 'Unused folder' if you don't want other employees to use the document.

PS - Remember that adjusting entries will not pull through to this document or any of your planning figures/documents as they are Auditor's/Reviewer's adjustments.

Are the exception in the work programs linked to points for partner's attention?

No it is not. Points for partner’s attention need to be manually completed within CaseWare.

You can create an issue(by right clicking on the cell) to raise exceptions as and when found.
There is an issue type - Points for partner's attention. This populates your points for partner's document 02.01.
 

Why do I have 8 procedures on the conclusion tab and my colleague only 3?

The difference between your work program and your colleague’s, is that you have the Probe MMX Premium package installed and he/she does not. Having 8 procedures in your work program is the extended conclusions which are only available on the Probe MMX Premium package.

I have installed the IFRS recognition and measurement package but the procedures do not change?

Ensure that you have set the financial reporting framework in 10.20 to IFRS. If you do not see IFRS as an option in the drop-down box next to Financial reporting framework you need to re-install the template, making sure that you enter all the codes correctly.

How do the new assertions relate to the old ISA 500 assertions?

Probe MMX uses combined assertions, similar to the methodology used by the IFAC in the guide for audits of smaller entities.  The assertions were combined as shown here. Presentation and disclosure is not used as an assertion because it is tested together with all the assertions and specifically in section 80 of Probe MMX.

When we want to insert a step in the work program, it gives an error that the knowledge library is not found.

Go into tools, default path, and ensure that the library path is correct. i.e. the destination of library path should be the same path as where the library is stored on your computer.

Why do the required procedures not address cut-off, and only the extended tests of detail do?

A blanket decision was taken to add cut-off procedures to extended procedures. Therefore in all work programs, cut-off was added as under this type of procedure.

Deleting a procedure in a work program does not delete the sub procedures.

This happens because of the way the work programs are programmed.

The best workaround is to delete the sub procedures one by one and thereafter delete the main procedure.

On the work program, should we input our own "Estimated audit risk remaining”?

If you double click on the box, Probe will give you the estimated audit risk remaining from the calculation it makes. You can override the calculation. The auditor uses his professional judgement to determine if he is satisfied that he has obtained sufficient appropriate audit evidence covering that line item and that assertion. The estimated audit risk remaining calculation from Probe, takes into account the Risk of Material Misstatement less the Assurance obtained per the Assertion.

When do I use the Extended analytical procedures, Extended tests of detail, and Substantive sampling? When I found during the audit that my significant and required procedures were not sufficient?

During planning you have to compare your desired audit risk with the risk of material misstatement and then decide how much audit work you have to do to get from ROMM down to your DAR but there is no particular order in which these needs to be completed, i.e. you don't have to first complete Analytical review (AR) and then test of detail (TOD) and then sampling.  If you know that you won't be able to do a proper AR on this accounting balance you can first do TOD or even sampling.  When you decide during the audit that you have not obtained sufficient evidence after completing the steps you ticked in 12.20 you can change your audit plan, for that item, without going back into 12.20.  You can indicate on the audit program conclusion that you want to change your audit plan and then tick the additional procedures you want to complete.

How is the sample size calculated in in the substantive testing worksheet (90.20)?

When audit procedures are performed in response to the risk of material misstatement, sampling is one of the procedures that need to be performed. However, sampling is the last procedure that is performed. The order of the audit procedures are:
• Significant risks responses.
• Test of controls.
• Required procedures.
• Extended test of details.
• Extended analytical procedures.
• Sampling.

Because of the order of the audit procedures to be performed, and the assurance that is obtained from those procedures, the risk identified at planning stage is reduced. This then gives the risk factor remaining before you have reached your desired audit risk.


Therefore, when sampling, the sample size, in Probe, is calculated as follows = (remaining balance X risk factor)/ specific materiality. (Specific materiality is by default your performance materiality; unless otherwise changed in 11.60).


This would then decrease the sample size. Remember, before you do sampling, you have tested material, significant and unusual items, and after you have obtained assurance from those procedures, your sample size would be reduced. If the population has no material items and no significant risks have been identified and you also cannot rely on controls, you would first do the required procedures, then extended tests of details (i.e. significant and unusual items), followed by extended analytical procedures - then only sampling.


Sometimes, if you have obtained the necessary assurance and subsequently reduced the risk of material misstatement, then (90.20, copied into the relevant section) states that no further testing is required. You can always override that; by clicking in the box that indicates you would like to proceed anyway.

​
This is Probeta’s recommended approach and you do not have to follow it. You can also decide to first do a sample and then extended tests of details.

On the controls testing worksheet (90.30), why does the sample size remain at 10, irrespective of the population size?

The controls testing worksheet calculates the sample size with two inputs:



1. The Probe Firm Settings indicates what the minimum sample size must be. In terms of the IFAC guide for small entity audits, the default is 10. The firm can change that in the Probe Firm Settings if they want to.

2. Your sample size depends on the assurance that you require from this test. If you are constantly getting a sample size of 10, you have probably selected to get medium assurance from this test. If you want to get High assurance, this sample size will increase to 30.
    

In the substantive testing sheet the risk section asks "estimated assurance obtained" and then significant risk and required procedures - high low etc. Does this assurance include my step I want to do on this testing sheet, or all the other tests?

It refers to the level of assurance that you expected from other procedures.

I have a yellow warning in my work programs stating that the Risk of Material Misstatement needs to be refreshed, why is this?

1. Close all the CaseView documents and open 11.10 to refresh the ROMM calculation.
2. If this did not resolve your yellow warning, make sure that the document are not renumbered out of the section numbering, eg. 20.10 can be 20.????, but not 100.?? as this will cause the document not to recognise the section it is in.
Renumber your document back to the applicable section and the document will work.