India Audit Lens
Build and default an accounting-policy profile
Create a reusable set of accounting-policy areas and parameterised wording for engagement planning and financial-statement note preparation. A profile is a starting methodology; the engagement team must select and…
By India Audit Lens product team · Updated 2026-07-17
Create or clone the profile
Navigate to Settings → Customization → Accounting Policies. Confirm the page title Accounting policy profiles. Click Create New Profile, or click Clone beside an existing SYSTEM or FIRM profile. For a clone, enter the intended name and click Clone. Enter Profile Name and a description stating the framework, entity population, owner, and methodology reference. Click Save.
SYSTEM profiles are read-only. Cloning creates an editable FIRM profile without changing the source or making the clone default.
Add a policy area
Open the firm profile and click Add Policy. Enter Name and a stable machine-friendly Key, such as revenuerecognition. Enter the applicable Ind AS Reference or other framework reference. Set Display Order. Enable Default only when the policy should normally be selected when this profile is applied. Enter the policy Description. Configure the policy parameters and their options. Save the policy and wait for Policy added or Policy updated.
Keys should remain stable once downstream engagement selections exist. A label can be improved for users; changing a key may disconnect previously stored parameter selections or generated wording.
Configure parameters
For every variable part of a policy:
Add a parameter and enter a unique Key, user-facing Label, and Description. Choose the parameter type offered by the builder. For selection parameters, add every valid Value and Label pair. Set the appropriate default only after confirming it is not presenting a professional judgement as a universal fact. Remove obsolete options only after checking existing engagement use. Save the complete policy.
Use neutral synthetic examples. Do not store a client's estimates, thresholds, contract terms, or accounting conclusion in the firm profile.
Test engagement and financial-statement use
Apply the profile to a synthetic engagement. Open the engagement's accounting-policy area and confirm the intended policies are available and the correct ones are selected by default. Change representative parameters and save. Reload the engagement to confirm persistence. Generate the related accounting-policy/Notes to Accounts output. Verify the framework reference, policy wording, parameter substitution, ordering, headings, and omission of non-applicable policies. Confirm that an engagement-specific change does not silently change the firm profile. Obtain methodology approval before…
Set the profile as default
Return to Accounting policy profiles. Click Set as Default beside the approved profile. Verify the default star. Apply the profile to a new synthetic engagement and repeat the selection/output check.
Existing engagement policy selections and previously generated statements are not automatically rewritten by a later default-profile change.
Revise or delete safely
Clone before a major framework or methodology revision. Change the default before removing the existing firm default. Delete only a FIRM profile after checking dependent engagement work. The UI does not expose a complete publish/archive/effective-date lifecycle. Maintain controlled approval/version evidence in the firm's methodology repository. Regenerate only a draft financial-statement output after changes and compare it with the prior version before replacing anything reviewed or issued.
Expected result
The approved profile contains stable policy keys, accurate framework references, tested parameter choices, and an intentional default state. New engagement outputs use the expected policy wording without changing historical artifacts.