This release comprises of the following compliance changes in September, 2023.
Company 1.3 Template Amendments
Updated Country of Incorporation under General Information Notes
General Information
The country reference mentioned in this section as “Republic of Ireland” is now replaced with “Ireland”. The similar change is also applicable for Charity and LLP templates.
New Layout for Statement of Changes in Equity
We have introduced a new Compliance Database option to enable a new layout for the Statement of Changes in Equity of the produced accounts. To view the Statement of Changes in Equity in the new layout, select Change the layout of Statement of Changes in Equity? option under Legislation, Compliance and Disclosure > Disclosure.
The Statement of Changes in Equity section of the produced accounts will be visible in the new layout.
Non-audited Letters of Engagement and Representation in the Documentation Pack
We have introduced the non-audited versions of the letter of engagement and letter of representation in the Documentation Pack for the Company 1.3 template. The Compliance Database option Audit exempt company? must be checked under Client Details > Key Information.
To view the non-audited versions of the letter of engagement in the Documentation Pack, select Show Engagement Letter? under Documentation Pack > Engagement Letter. You can modify all the sections of the letter as per requirement.
To view the non-audited versions of the letter of representation in the Documentation Pack, select Show Representation Letter? under Documentation Pack > Representation Letter. You can modify all the sections of the letter as per requirement.
The Documentation Pack module will view the non-audited versions of the Engagement Letter and the Representation Letter.
FRS 105 Amendments in Notes to the Financial Statements
We have introduced three new Compliance Database options for the FRS 105 small-sized companies to amend the texts for Trade and other debtors, Trade and other creditors and Financial Instruments in the Notes to the Financial Statements for Company 1.3 template. You can modify the default text as per your requirement.
To view the amended text for Trade and other debtors, select Show FRS105 default text on Trade and Other Debtors Policy? under Accounting Policies > Trade and Other Debtors.
To view the amended text for Trade and other debtors, select Show FRS105 default text on Trade and Other Creditors Policy? under Accounting Policies > Trade and Other Creditors.
To view the amended text for Financial Instruments, select Show text on Financial Instruments under Accounting Policies > Financial Instruments.
The Notes to the Financial Statements will display the amended texts for Trade and other debtors, Trade and other creditors and Financial Instruments in the produced accounts.
Charity Template Amendments
New Layout for the Grants Note in Notes to the Financial Statements
We have introduced a new Compliance Database option to enable the horizontal view for the Grant Notes in the Notes to the Financial Statements of the produced accounts. To view the Grant Notes horizontally, select Use Format-2 of State Funding Note option under State Funding.
The Notes to the Financial Statements section of the produced accounts will show the Grant Notes in a horizontal view, and is divided into two sections, Revenue Grants and Capital Grants.
Sole Trader Template Amendments
Non-audited Letters of Engagement and Representation in the Documentation Pack
We have introduced the non-audited versions of the letter of engagement and letter of representation in the Documentation Pack for the Sole Trader template. The Compliance Database options Audit required under Investment Intermediaries Act 1995? and Audit report for unincorporated entities required? must be unchecked under Client Details > Key Information.
To view the non-audited versions of the letter of engagement in the Documentation Pack, select Show Engagement letter? under Documentation Pack > Engagement Letter. You can modify all the sections of the letter as per requirement.
To view the non-audited versions of the letter of representation in the Documentation Pack, select Show Representation letter? under Documentation Pack > Representation Letter. You can modify all the sections of the letter as per requirement.
The Documentation Pack module will view the non-audited versions of the Engagement Letter and the Representation Letter.