The July 2025 Compliance Release Notes have the below introductions:

1. Ireland - Charity - Industrial and Provident Societies

2. Documentation Packs

   a. United Kingdom and Northern Ireland - Clubs
   b. United Kingdom and Northern Ireland - Credit Unions
3. Ireland, UK and Northern Ireland - Company - extended Accounting & Disclosure Error Analysis Report

IRELAND - CHARITY - INDUSTRIAL AND PROVIDENT SOCIETIES

We have introduced a new option for Irish Charities operating as Industrial and Provident Societies. Ensuring compliance with the Industrial and Provident Societies Acts, 1893 to 2021 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 option, the following prerequisites must be met:

1. Ireland 'Country of Incorporation': This option is exclusively available for Irish Charities.
2. 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 Industrial and Provident Societies Format

To activate the Industrial and Provident Societies format:

1. Navigate to Compliance Database > Legislation, Compliance and Disclosure > Accounting Options
2. Locate and check the option: Is this charity subject to the Industrial and Provident Society Acts? (ROI)?
3. Once this option is checked, statement of committees’ responsibilities section will be opened under Compliance Database > Legislation, Compliance and Disclosure > Disclosure
4. Also, 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

Implementation

When properly configured, the system will automatically incorporate appropriate section representations throughout the accounts wherever applicable, ensuring compliance with the Industrial and Provident Societies Acts, 1893 to 2021. This streamlines the accounts production process for Ireland IP Societies while maintaining regulatory compliance.

DOCUMENTATION PACK: UK AND NORTHERN IRELAND - CLUBS

Unaudited Letters:

Prerequisites:

• Ensure the Audit report required option 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 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.

DOCUMENTATION PACK: UK AND NORTHERN IRELAND - CREDIT UNIONS

Audited Letters:

Prerequisites:

• 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:

• Audit Engagement Letter: Select Show Audit Engagement Letter under Documentation Pack > Audit Engagement Letter. Modify sections as needed.
• Audit 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.

IRELAND, UK AND NORTHERN IRELAND - COMPANY - ACCOUNTING AND DISCLOUSURE ERROR ANALYSIS REPORT

We have made additions to the 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.

In this release, we have identified and addressed ten accounting errors relevant to the holding company. Each error has been thoroughly evaluated with proper formulas to ensure accuracy and reliability before the finalization of books of accounts.