Overview
Audit firms juggle engagement planning, fieldwork evidence, trial-balance mapping, third-party confirmations and reporting across spreadsheets and disconnected tools. This module brings the whole engagement lifecycle into one Odoo application: clients and engagement teams, audit programs and testing sheets, trial-balance import with FS mapping and adjustments, monetary-unit sampling, findings, materiality and risk assessment, plus a website portal where clients upload requested documents. Role-based access (Junior to Senior Partner) with locking and sign-off keeps the audit file controlled and reviewable from planning through to final report.
Workflow
Audit Engagement
Planning
Test of Controls
Sampling
Reporting
Audit Confirmation
Draft
Prepared
Sent
Follow-up
Received
Exception
Closed
No Response
Audit Document Request
Draft
Sent
Partially Fulfilled
Fulfilled
Closed
Audit Tb Adjustment
Draft
Posted
Sent to Client
Client Posted
Cancelled
Audit Task
Open
In Progress
Completed
Cancelled
Audit Finding
Open
In Progress
Resolved
Closed
Audit Tb Import Batch
Uploaded
Mapped
Validated
Committed
Failed
Key Features
- Manages audit engagements through planning, test of controls, sampling and reporting stages with locking and partner sign-off.
- Builds engagement teams with role-based visibility so juniors and seniors see only their assigned engagements while managers see all.
- Copies reusable audit programs and procedures from client-type templates and auto-creates matching testing sheets.
- Imports trial balances in batches, maps accounts to financial-statement lines, and records posted, balanced adjustment entries with reversals.
- Generates statistical samples from journal entries using Monetary Unit Sampling driven by materiality and confidence factors.
- Tracks third-party confirmations (bank, AR, AP, legal, insurance) through a full prepared-sent-followup-received-closed workflow.
- Sends clients tokenized document requests via a public web portal where they upload files or mark items not applicable.
- Records audit findings, materiality calculations, risk assessments, review notes and disclosure notes against each engagement.
- Builds rolled-up Balance Sheet and Income Statement report trees from mapped trial-balance balances and adjustments.
- Logs every status change and key action to an audit trail and tracks billable time entries per task and engagement.