What's New in SMSF Audit

What's New in SMSF Audit

31 August 2023 - SMSF Audit 2023

Template Update:

  1. Fixed an issue with the BGL import - the mapping number settings have been adjusted so accounts can now be mapped to the top level mapping for Fund members’ equity

Features:

  1. Fixed the date settings in 520 Share Data Summary - the correct year end dates are now displayed


  1. Fixed the number of shares held in 521 Share Workpapers - the number displayed in this cell is now from 2023 year end

  1. Fixed chart printing in 300 and 350 - the transactions analysis chart will now print on demand as well as through the download reference copy.


20 July 2023 - SMSF Audit 2023

Content:

  1. Minor content corrections within workpapers; 120, 150, 500 and 610
  2. Correction to sign-off roles for 131, 151, 811 and 821 
  3. Inclusion of the ASX data for the year ending Jun 30, 2023

Features:

  1. Minor spelling and performance corrections to 300 and 350

22 June 2023 - SMSF Audit 2023

Content:

  1. No Content updates in this build

Features:

  1. New Insights workpaper (300) and Bank account transaction analysis worksheets to assist with confirming if bank overdrafts exist, assisting with your compliance of SISA 67 - Borrowing (review the FAQ for more information).
1 July 2022 - SMSF Audit 2022 Release
Content:
  1. Minor content corrections within workpapers; 110, 120, 400 and 600.

Features:

  1. New enhancement to carry forward firm setting customisations into the new SMSF Audit template. For all firms who customise the SMSF template each release, the new template will allow you to preserve your existing template changes whilst applying the latest enhancements from the SMSF Audit 2022 Release (1 July 2022) template. For further information refer to this article.

30 September 2021 - SMSF Audit 2021 Release 8

Fixes:

  1. Two fixes have been made to the New Shares Testing Worksheet
    1. The jump link between forms is now corrected.
    2. The Dividend Revenue accounts will now retain consistently when the file is closed and reopened.

16 September 2021 - SMSF Audit 2021 Release 7

Content:

  1. Procedure content related to Disqualified members has been updated to provide swifter avenues of searching for disqualified members.

Fixes:

  1. Trust Distribution ROI calculation has been updated to include managed investments - This means users will not need to remap from Listed/Unlisted unit trusts for the calculation to complete.
  2. A new sign off scheme 'SMSF Audit Single Sign Off' has been created and applied to all placeholders in the template related to signed letters. This means only a reviewer sign off is required for the completion of the document.
  3. The Workflow status issue where "Reviewed" status was not available has been rectified.

5 August 2021 - SMSF Audit 2021 Release 5

Content:

  1. The Audit Report content for all prior year templates has been updated to match ATO's sample Independent Audit Report. For further information refer to this article.

Features:

  1. To match the documents screen layout of the 2021 template, all prior year templates will be updated to use this new documents screen. For further information refer to this article. 

Fixes:

  1. New engagements based on any prior year template will use metric units for measurement when editing letter document margins.
    1. Engagements which are carried forward from a prior year engagement using imperial units for measurement will require a change at the engagement settings level by clicking "i" icon > Settings > Measurement unit.

29 July 2021 - SMSF Audit 2021 Release 4

We have updated the SMSF Audit 2021 and 2020 templates.

Content:

  1. The FY2020 Audit Report content has been updated to match ATO's sample Independent Audit Report. For further information refer to this article.
  2. NEW - Share Data Summary and Share Workpapers are available and ready for use.
    1. This change means both the previous version of the testing worksheet and new version are available in the template but hidden by default. To understand how to display your choice of workpaper(s) and how to use the new version, refer to this article.

15 July 2021 - SMSF Audit 2021 Release 3

We have updated the SMSF Audit 2021 template.

Content:

  1. The FY2021 Audit Report content has been updated to match ATO's sample Independent Audit Report.

8 July 2021 - SMSF Audit 2021 Release 2

We have updated the SMSF Audit 2021 template.

Content:

  1. ASX data is now inserted and available for use within 450 - Shares Testing Worksheet.
  2. ABN and Superfund Lookup procedure content has been slightly modified.

Fixes:

  1. New engagements with no carry forwards from a prior year engagement will use metric units for measurement when editing margins of letter documents.
    1. Engagements carried forward from a prior year engagement will require a measurement unit change by clicking "i" Icon > Settings > Measurement Unit.

1 July 2021 - SMSF Audit 2021 Release

We are pleased to announce the release of CaseWare SMSF Audit's 1 July 2021 template update.

New Features:

  1. NEW - Documents screen - easier to navigate with detailed view enabled as default, as well as sign-off progress widgets for each phase. See How do I use the new Document Page in Agile Audit/SMSF Audit? for more information.



  2. NEW - 'Modified since last review' flag - helps to identify from the documents screen if any modifications have been made after the reviewer last signed off. See What causes the ‘Modified since last review’ warning to appear for more information.


  3. NEW - Roles and Schemes: Replaces Enable Second Reviewer button. See How to add a Second Reviewer in SMSF Audit? for new method of enabling second reviewer sign-offs within engagements.

  4. NEW - Welcome card for SMSF Audit - can now quickly navigate to important pages such as the ‘What’s New’ FAQ and webinars.


Enhancements:

  1. Enabling of FY21 engagement creation.
  2. Authoritative references have now been moved from procedure content to a separate area under procedures for a cleaner presentation.

Content:

  1. Addition of Disclaimer & Copyright in permanent folder.


  2. Streamlined ABN and Superfund lookups (Dynamically generates links for the related fund)

  1. Procedures related to contributions ages updated from 65 years and 28 days to 67 years and 28 days.
  2. APES 305 Terms of Engagement procedure added related to disclosing information regarding usage of Cloud Computing services (Refer to procedure guidance lightbulb for additional information).
  3. NEW - 515 Investment Return Worksheet: Automatically calculates investment return using two methods.




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