03/2023 - AU content release notes

MyWorkpapers is pleased to announce the release of the following content updates to the application. All updates are live on the application now.

Yearend SMSF 1.4:

B-1 Planning Programme - Slight change to the layout of question 6

Monthly and Quarterly files:

We have added folders for the financials, to allow users to store supporting documentation prior to importing a Trial Balance. 

Trust Manuals:

The following content templates have been updated to 2023.03:

- Legal Profession Trust Account – QLD

- Legal Profession Trust Account – SA

- Legal Profession Trust Account – NSW & VIC

- Agents Trust Account – QLD

- Agents and Property Managers Trust Account – SA

- Agents Trust Account – VIC

- Agents Trust Account – NSW

The reason for these updates is slight amendments have been made to ASAE 3000 and 3100 for periods commencing 15th December 2022. The amendments arise from changes made by the IAASB to the International Code of Ethics for Professional Accountants (including International Independence Standards) (IESBA Code), ISQM 1 Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements, ISQM 2 Engagement Quality Reviews and ISA 220 (Revised) Quality Management for an Audit of Financial Statements.

The changes are as follows:

References to Quality Control have been updated to Quality Management.

References to engagement partner have been updated to Lead Assurance Practitioner

An additional procedure has been added to B1 to address the requirement to determine that sufficient and appropriate resources to perform the engagement are assigned or made available to the engagement team