MYOB AE MAS/Accounts Reporter release notes—3.5.4 (Australia) - SMSF only

Release date— August 2021

This release includes changes to the SMSF Audit report only. Install this release only if you're running SMSF reports.

Reporter is a tool that generates reports using an underlying general ledger system. It enables integration to the Accounts general ledger product.

Read the release notes to see what's included.

Release notes

Changes to SMSF audit report (for Non-Reporting only)

Due to the changes to the Audit Report for Non-Reporting SMSF's, we suggest you delete the format Audit Report Non Reporting - SMSF at practice and/or client level and get it back to master level.

Before deleting, make sure you have made a copy of the practice or client-level format. To make a copy:

At Practice level:

Go to Design Practice Reports and select the Formats tab.
Find the format Audit Report Non Reporting – SMSF:
1. If the format is red, then no need to do anything.
2. If the format is yellow, right-click the Audit Report Non Reporting - SMSF practice level report, and choose Save As. Type Audit Report Non Reporting – SMSF backup and select OK.
Right-click the format Audit Report Non Reporting - SMSF and select Delete.

At Client level:

Go to Design Client Reports and select the Formats tab.
.Find the format Audit Report Non Reporting – SMSF:
1. If the format is red or yellow, then no need to do anything.
2. If the format is blue, right-click the Audit Report Non Reporting - SMSF client level report, and choose Save As. Type Audit Report Non Reporting – SMSF backup and select OK.
Right-click the format Audit Report Non Reporting - SMSF and select Delete.

Delete the Named Range -Text format

You also need to delete the format - Named Range - Text at client and/or practice level. Follow the steps above to back up and delete the format - Named Range - Text at practice or client level.

Changes to Audit report paragraphs

We've made changes to the Audit report paragraphs to be compliant with the ATO's changes published in June 2021.

New Non-transaction data fields:
- Non-transaction Data > OtherReports > AuditReport - PartAFinancialStatementsPreparedByYourFirm.
  Select Yes or No (selection will be retained on rollover).
  We've created a new paragraph in Part A under Basis for [Qualified, Disclaimer, Advserse] Opinion which states if the financial statements were prepared by your firm, or not (based on your NTD selection of Yes/No).
- Non-transaction Data > OtherReports > AuditReport - PartBStandardASQC1orASQM1.
  Select the standard used for your audit report. It will print in the Independence and Quality Control paragraph in Part B.
  
  ASQM1 becomes operative from 15 December 2022.

Removal of NTD option
We've removed the NTD option for Reference Trust Deed under OtherReports > AuditReport > PartAOpinionSelection.
Other Format change
Format - Named Range - Text
We've added 4 new rows (rows 30 - 33) for embedding the word Qualified, Disclaimer of, Adverse, or Blank (for unqualified) into paragraphs.