Monthly Audit Newsletter

It’s time for our monthly Audit newsletter update. This month, we would like to feature three key areas: MyWorkingPapers, acquisition integration in the Audit Service Line, and the FRC Scalebox.

MyWorkingPapers (MWP)

As Affinia Audit expands its client offerings, we have successfully established customised MWP (Affinia Audit software) templates for CASS and Academy audits. These templates will help us enhance and streamline our services. The respective teams are currently undergoing training, and we plan to leverage these templates to drive innovation in client delivery and internal efficiencies. Stay tuned for more updates!

If you are involved with MWP, please ensure that:

• You use up-to-date templates for all engagements.
• Individual sections include the most recent versions of the audit working papers.
• Processes and controls are maintained throughout all relevant working papers.

For input on the MWP templates and bespoke programs, please contact your manager.

Acquisition Audit Integration

Christopher Jones from Orpington shares his team’s experience with integrating into the Affinia audit function:

“The integration of corporate audits in Orpington has been a positive experience, assisted greatly by Andrew Runicles, who has been incredibly supportive and helpful to Alia and I.

Adopting MyWorkingPapers has been relatively straightforward, which has helped speed up the process. Additionally, following a challenging period staffing wise, we have had several opportunities to work with the wider group, with staff being assigned to assist with our audit engagements.

With three new audit starters in Orpington over the next couple of months, we expect to integrate further into the group and contribute to the continued success of the service line.”

FRC Scalebox and Affinia

As many of you know, Affinia is a core member of the FRC Scalebox Programme, led by the Financial Reporting Council (FRC). This initiative aims to enhance skills and ensure the highest quality of audit standards across the Affinia Group. With a focus on various audit topics—including areas of current importance, ethics, and carbon reporting—our collaboration with the FRC has ensured that Affinia maintains the high standards expected of a growing audit practice.

Practical improvements resulting from our involvement in the FRC Scalebox include the ongoing refinement of our audit templates across the group and contributions to our mandatory monthly audit training. For more information on the FRC Scalebox, please reach out to the audit board, who would be happy to share their experiences with this unique program.

That concludes our audit update for the month. If you have any questions, please contact Richard Lane or Mark Middleton. Have a great Friday and a wonderful weekend everyone!