08/2020 - AU - YearEnd 1.3, Audit International 2.2, SMSF Audit 5.3, SMSF YearEnd 1.3, Periodic (Monthly/Quarterly)

We are pleased to announce the following updates to our Workpaper templates:

Year End 1.3

• New Inter Entity Loan Reconciliation (G6)

• Updates to Provision for Income Tax Worksheet (G7)

• Updates to Wages reconciliation (D3) for STP and Payroll tax rates

Audit (International) 2.2

• Updates have been made to the existing workpaper programs as a result of:

  • ISA Updates;

  • IFRS Updates (Changes for IFRS 16 Leases)

  • Auditor Independence Requirements (https://www.iesbaecode.org/guide-to-the-code.html);

• The workpapers impacted by the changes include:

  • Completion programmes: A1.8, A1.9, A1.10, A2.4, A2.6, ISA Compliance.

  • Planning programmes: B1.3, B1.4, B1.6.

  • General procedures: D1, F1, J1, Q4, R1, S1.

SMSF Audit 5.3

• Updates made to reflect COVID-19 relief and compliance issues:

  • Early access to super

  • LRBA relief

  • Temporarily reducing superannuation minimum payment amounts

  • Providing rent relief

  • In-House asset restrictions

  • Investment strategies

SMSF Year End 1.3

• Updates made to reflect COVID-19 relief

Periodic Files (Monthly/ Quarterly):

• Updates made to the Boosting Cashflow for Employers calculator