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CCH Software User Documentation

Mercia Pension Packs v9

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Obtaining and installing the update


Click here and then select MERCIA: Pension Master Pack, read the instructions on the download page and save the file to disk and store it in a temporary directory on your hard drive, (assumed to be “C:\TEMP” in the following instructions). Next, follow the steps outlined below.


  1. Click on [Start] and then on Run...
  2. Enter C:\TEMP\MERCIA_Pension_Master_Packs_v09.exe, or select the file using the [Browse] button, and click on [OK].
  3. Follow the instructions on the screen, see below for installation options.

The above assumes that you downloaded the file to C:\TEMP, if you stored it elsewhere, enter the path you used in step 2 above. During the installation process you will be asked for a password, this is provided in the notification of the availability of the packs.

Installation options

The installation program will offer you our standard default directory called PROACC\AUDITV4 on Drive C. If you have installed ProSystem AA, or store your master formats elsewhere, you must change the directory to that which you used for the original installation. The master formats have been allocated the following codes:

MERPEN09 Mercia Pension Audit Pack v09
  • If you have created your own master with these codes, installing these masters will overwrite it.
  • If you have done this, you should rename your master formats before proceeding, or contact us for advice on how you can rename our masters. 

Charge rate tables

The master packs contain charge rate tables that will need to be updated to reflect your firm’s level of hourly charges. The table may be imported from an existing pack, thereby removing the need for you to enter it manually. To do this, load Audit Automation, log in as the System Manager, and select the option to edit an existing master pack. Enter the code of the pack to be updated and click on [OK]. Select Risk model | Look up tables and then the Charge rate table tab. Finally, select [Import charge rates] and select the pack from which the table is to be imported.

Specialised charts of accounts and working papers

If you are importing from a third party accounting package, it is likely that you will either have changed the alpha codes in your master packs, or have imported a new chart of accounts and working papers from a chart update routine. If you have used a supplied routine, simply follow the original instructions to install the updated chart in each of the new master packs. If you have amended the alpha codes, you can copy the amended chart of accounts to the new masters by copying the files called CHART.DBF and CHART.MDX from an old master pack to the new ones now installed. If you require assistance to achieve this, contact the support line.

Changing master packs for an existing client

To link an existing client to a new pack, proceed as follows:

  • Select File > Edit control data > Control data from the menu bar.
  • Select the Master pack code edit box and either enter the code of the new pack or select it using the [Pick] button.
  • Click on [OK].

The system will ask you to confirm that you wish to change the master pack in use and then present a dialog with options. If you are changing from one version of a master pack to the next, e.g. MERPEN08 to MERPEN09, select the option to Merge the new master programmes with the current customised programmes, if you are changing to a different pack concept, e.g. MEREX15 to MERPEN09, select the option to Clear the current customised programmes and Replace the working paper index so that you obtain the revised index from the new master.

Note: it is advised that users should not change master packs once planning has been signed off. Prior to planning sign off master packs can be updated but users should be aware of changes in the update that may have an effect on work already completed during the planning stage.

Always ensure that you have a current backup of the client’s data before changing master packs as this is a complicated process and if anything happens to interrupt the change, the client data may be corrupted.

Changes made to the master packs

The principal technical changes in this update relate to:

ISA (UK) 540 (Revised December 2018) – Auditing Accounting Estimates and Related Disclosures

In December 2018 the FRC issued a revised ISA (UK) 540 on Accounting Estimates, to reflect changes made by the IAASB to this standard.  The new standard takes effect for audits of financial statements for periods beginning on or after 15 December 2019, although early adoption is permitted.  Several other minor consequential amendments were made to other ISAs (UK) early in 2020.

The revised standard is a complete overhaul of the previous version and introduces several key changes to the approach that must be followed when auditing all types of accounting estimate and the associated financial statement disclosures.  These changes will strengthen the audit of what can be a difficult area. The revised standard emphasises the need for professional scepticism at all times when assessing the methods, significant assumptions and data used by management when determining accounting estimates to be included in the financial statements, as well as the associated financial statement disclosures.

In order to reflect the requirements of the revised standard the audit methodology now places greater emphasis on the documentation of our understanding of accounting estimates and the risks they present at the planning stage and there is a revision to the workflow of key accounting estimates. 

ISA (UK) 570 (Revised September 2019) – Going Concern

In September 2019, the FRC issued a revised version of ISA (UK) 570 on Going Concern, which is effective for audits of financial statements commencing on or after 15 December 2019, although early adoption is permitted.  These revisions are in response to a number of recent audit failures regarding going concern, with the requirements of the new standard being much more prescriptive.  Accordingly, a number of changes have been made throughout the manual to reflect these requirements, most notably the creation of a going concern work programme within field work.

Reporting on irregularities, including fraud

Following the ICAEW publication of 'How to report on irregularities, including fraud, in the auditor’s report - Guide for auditors reporting for the first time' in April 2021 and the comment that 'how the auditor developed their explanation, and the areas considered, would be expected to be documented in the audit file', we have added a new A29 Reporting on irregularities, including fraud in the auditor's report in the Audit Methodology and also an additional test on A21 for the RI to confirm their approval

Use of audit data analytics

A number of changes have been throughout the manual to encourage teams to consider the use of audit data analytics (ADA) on audit engagements.  These changes principally focus on the use of ADA as part of the risk assessment, selection of high risk transactions for testing and stratification of populations to assist with sampling, although teams are encouraged to consider its use in other areas, with revisions to planning forms providing prompts for you to record its planned use. Given the audit quality and efficiency gains which can provided by the use of ADA, a new planning form (B20) has been added for teams to appraise its use on engagements and record why ADA was or was not considered appropriate to use.  Where the use of ADA is intended, a number of other revisions have been made throughout the manual to help you record and reflect on the results from its use.

Ethical Standard 2019

The B12 and B13 have been updated for the Ethical Standard 2019 which is largely effective for engagements with periods commencing on or after 15 March 2020.

Other changes

In addition to the going concern work programme within fieldwork, we have also added a subsequent events programme to fieldwork to give the same level of prominence.

Other changes to your Pension Scheme Manual have been made for ISA amendments that are effective for audits of financial statements commencing on or after 15 December 2019.

Changes to the Occupational and Personal Pension Scheme (Disclosure of Information) Regulations 2013

Changes have been made to these regulations that require additional disclosure the investment report section of a scheme’s annual report concerning the statement of investment principles and a new engagement policy implementation statement. The changes apply in two stages for periods ending on or after 1 October 2019 and then periods ending on or after 1 October 2020.

 Further related changes affect information that must be published on a website.

 The model accounts and disclosure checklists have been updated for these changes with those changes that apply for periods ending 1 October 2020 identified separately.

Pension scheme reports and financial statements and related matters in the context of the COVID-19 pandemic

 A guide was published by the ICAEW, ICAS and PRAG in May 2020 to support pension scheme auditors navigate the additional challenges they are likely to experience as a consequence of the COVID-19 pandemic in meeting their responsibilities towards the scheme’s annual report, including the audited financial statements. The guide includes many signposts to other sources of guidance.

Cybercrime Protection Guidance

 An updated version of the 2018 guidance to help trustees of pension schemes protect their schemes from cybercrime was published in October 2020. The guidance has been put together by PRAG’s Cybercrime and Fraud Working Party and updates the previous guidance to reflect the considerable developments and increase in cybercrime since then.

A full list of changes are available in the master pack manual.

Master audit pack documentation

Copies of these manuals are included in the Guidance folders within the master packs and hence will always be available from the Help menu when you have a client loaded. There are 2 items on the menu that will always relate to the master pack to which the current client is connected:

  • Master pack manual
  • Master pack manual appendix

Important: To receive software product news updates, you will need to Register on our Support Portal. (Registration Code and Practice Code required) and join our CCH Audit Automation Group to receive POSTS.


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