The May  2025 Compliance Release Notes have the below introductions:

• United Kingdom - Company – Community Benefit Society
• United Kingdom/Northern Ireland - Limited Liability Partnership- Engagement Letter, Representation Letter, Bank Confirmation Letter and Solicitor's Confirmation Letter in the Documentation Pack:
• United Kingdom/Northern Ireland - Sole Trader – Unaudited-Engagement Letter, Representation Letter, Bank Confirmation Letter and Solicitor's Confirmation Letter in the Documentation Pack:

United Kingdom - Company – Community Benefit Society 

We have introduced a new format specifically designed for UK businesses operating as Community Benefit Society (CBS). This format, available exclusively under the Company Template, ensures compliance with the Co-operative and Community Benefit Societies Act 2014 by automatically including appropriate section citations throughout the accounts where applicable.

This document outlines the prerequisites, configuration settings, and operational procedures for utilizing this new functionality.

Prerequisites

To utilize this format, the following prerequisites must be met:

1. UK Business Requirement: This format is exclusively available for UK-based businesses.
2. Company Template: The format is only available when using the Company Template within Bright Accounts Production.
3. Financial Reporting Standard: It is strongly recommended to have either Follow FRS 102 or Follow FRS 102 Section A selected in the accounting options. You can navigate to the same through the path Compliance Database > Legislation, Compliance and Disclosure > Accounting Options

Activating the Community Benefit Society (CBS) Format

To activate the Community Benefit Society format:

1. Navigate to Compliance Database > Legislation, Compliance and Disclosure > Accounting Options
2. Locate and check the option: Is this entity registered under the Society Act?
3. Select from the lookup option: Community Benefit Society
4. Once this option is checked, the Dates & Signing and Disclosure sections will become accessible

Customizing Signatories

Before producing the accounts, you can customize the list of positions and names required for signatures:

1. Navigate to Compliance Database > Legislation, Compliance and Disclosure > Dates and Signing
2. Edit the list of positions and names according to your requirements
3. Important Requirement: The position of Company Secretary must be included in the list of signatories

Implementation

When properly configured, the system will automatically incorporate appropriate section representations throughout the accounts wherever applicable, ensuring compliance with the Co-operative and Community Benefit Societies Act 2014. This streamlines the accounts production process for UK Community Benefit Societies while maintaining regulatory compliance.

United Kingdom/Northern Ireland - Limited Liability Partnership- Engagement Letter, Representation Letter, Bank Confirmation Letter and Solicitor's Confirmation Letter in the Documentation Pack:

Audited Letters:

Prerequisites:

• Ensure the Audit Exempt LLP box is unchecked under Compliance Database > Client Details > Key Information.
• Add at least one bank to generate a Bank Confirmation Letter.
• Add at least one solicitor to generate a Solicitor's Confirmation Letter (Balance Sheet and Documents of Title).

Viewing Audited Letters:

• Engagement Letter: Select Show Audit Engagement Letter under Documentation Pack > Audit Engagement Letter. Modify sections as needed.
• Representation Letter: Select Show Audit Representation Letter under Documentation Pack > Audit Representation Letter. Modify sections as needed.
• Bank Confirmation Letter: Select Show Audit Bank Confirmation Letter under Documentation Pack > Audit Bank Confirmation Letter. Modify sections as needed.
• Solicitor's Confirmation Letter (Balance Sheet): Select Show Audit Letter to Solicitor's Re Balance Sheet under Documentation Pack > Audit Letter to Solicitor's Re Balance Sheet. Modify sections as needed.
• Solicitor's Confirmation Letter (Documents of Title): Select Show Audit Letter to Solicitor's Re Documents of Title under Documentation Pack > Audit Letter to Solicitor's Re Documents of Title. Modify sections as needed.

Unaudited Letters:

Prerequisites:

• Ensure the Audit Exempt Limited Liability Partnership box is checked under Compliance Database > Client Details > Key Information.
• Add at least one bank to generate a Bank Confirmation Letter.
• Add at least one Solicitor to generate a Solicitor's Confirmation Letter (Balance Sheet and Documents of Title).

Viewing Unaudited Letters:

• Engagement Letter: Select Show Engagement Letter under Documentation Pack > Engagement Letter. Modify sections as needed.
• Representation Letter: Select Show Representation Letter under Documentation Pack > Representation Letter. Modify sections as needed.
• Bank Confirmation Letter: Select Show Audit Bank Confirmation Letter under Documentation Pack > Audit Bank Confirmation Letter. Modify sections as needed.
• Solicitor's Confirmation Letter (Balance Sheet): Select Show Audit Letter to Solicitor's Re Balance Sheet under Documentation Pack > Audit Letter to Solicitor's Re Balance Sheet. Modify sections as needed.
• Solicitor's Confirmation Letter (Documents of Title): Select Show Audit Letter to Solicitor's Re Documents of Title under Documentation Pack > Audit Letter to Solicitor's Re Documents of Title. Modify sections as needed.

United Kingdom/Northern Ireland - Sole Trader – Unaudited-Engagement Letter, Representation Letter, Bank Confirmation Letter and Solicitor's Confirmation Letter in the Documentation Pack:

We are pleased to announce the introduction of unaudited versions of the Letter of Engagement and the Letter of Representation. To utilize these documents, the following prerequisites must be met:

Prerequisites:

• Ensure the Audit Exempt Sole Trader option is checked under Compliance Database > Client Details > Key Information.
• Add at least one bank to generate a Bank Confirmation Letter.
• Add at least one Solicitor to generate a Solicitor's Confirmation Letter (Balance Sheet and Documents of Title).

Viewing Unaudited Letters:

• Engagement Letter: Select Show Engagement Letter under Documentation Pack > Engagement Letter. Modify sections as needed.
• Representation Letter: Select Show Representation Letter under Documentation Pack > Representation Letter. Modify sections as needed.
• Bank Confirmation Letter: Select Show Audit Bank Confirmation Letter under Documentation Pack > Audit Bank Confirmation Letter. Modify sections as needed.
• Solicitor's Confirmation Letter (Balance Sheet): Select Show Audit Letter to Solicitor's Re Balance Sheet under Documentation Pack > Audit Letter to Solicitor's Re Balance Sheet. Modify sections as needed.
• Solicitor's Confirmation Letter (Documents of Title): Select Show Audit Letter to Solicitor's Re Documents of Title under Documentation Pack > Audit Letter to Solicitor's Re Documents of Title. Modify sections as needed.