This release comprises of the following compliance change in October 2024.

Company 1.4 Template Amendments

Produce Accounts

We have introduced the new Accounting Error Analysis Report, intended to assist you in addressing accounting and disclosure errors encountered during the preparation of accounts with ease and expertise. Upon completing the accounts, if you encounter any such errors, you will be able to access the Accounting Error Analysis Report in the Produced Accounts section. This report will provide comprehensive guidance, including detailed instructions, underlying equations, and validation rules, to help you resolve these errors effectively.

For this release, the following 14 identified error areas have been addressed. We plan to enhance this report and introduce additional error analysis reports in forthcoming releases.

Sl No	Accounting & Disclosure Error Note Name	Section
1	Comparative Year retained profit carried forward is not equal with current Year retained profit brought forward	Profit & Loss
2	Opening stock in Profit and Loss account does not equal comparative financial year Balance Sheet stock	Balance Sheet
3	Closing stock in Income and Expenditure Account does not equal stock in the Balance Sheet	Balance Sheet
4	Tax notes error	Notes to the Accounts
5	Share capital notes error	Notes to the Accounts
6	Receivables/Debtors notes error	Notes to the Accounts
7	Current asset investments notes error	Notes to the Accounts
8	Payables/Creditors notes error	Notes to the Accounts
9	Long term loans notes error	Notes to the Accounts
10	HP and finance leases notes error	Notes to the Accounts
11	Provisions notes error	Notes to the Accounts
12	Opening shareholders' fund notes error	Notes to the Accounts
13	Directors' opening balance plus the movement notes error	Notes to the Accounts
14	Joint Directors opening balance plus the movement notes error	Notes to the Accounts

Accountant's Report

We have introduced a new Compliance Database option to view the International Standard on Related Services 4410 (Revised) references in the Accountant’s Report for ICAI or CAI professional body. This change is only applicable for Republic of Ireland entities. The Compliance Database Option Audit exempt company? must be checked under Client Details > Key Information.

To enable the new compliance option and view the ISRS 4410 (Revised) references in the Accountant’s Report for ICAI/CAI professional body, the following conditions should be met.

• Under Compliance Database > Client Details > Auditors/Accountants, select the Institute of Chartered Accountants in Ireland from the Name of Professional Body drop-down list.

or,

• Under Compliance Database > Client Details > Auditors/Accountants, select Chartered Accountants Ireland from the Name of Professional Body drop-down list.
• Under Compliance Database > Legislation, Compliance and Disclosure > Disclosure, select Show ISRS 4410(Revised) technical Statement reference in the Accountant's Report? option to view the ISRS 4410 (Revised) references in the Accountant's Report for ICAI/CAI professional body.

The Produced Accounts will display the ISRS 4410 (Revised) references in the Accountant's Report for ICAI or CAI sections of the Accountant's Report.