CCH Audit Automation
Contents of Release
This release provides the compliance changes required for Statutory Instrument 2012 No.2301. This affects the Audit Exemption thresholds for all accounting periods ending on or after 1st October 2012. Additionally there are a small number of fixes.
Note: CCH Accounts Production (VAP 7.50) was the final release of Viztopia Accounts Production and is now unsupported. This release is provided in case users need to access older data, but it may no longer work on new equipment.
Compliance changes
41934 Audit Exemption criteria changes.
After much speculation the UK Department for Business, Innovation and Skills (BIS) has issued new legislation that changes the audit exemption criteria (Statutory Instrument SI 2012 No.2301).
These Regulations may be cited as the Companies and Limited Liability Partnerships (Accounts and Audit Exemptions and Change of Accounting Framework) Regulations 2012 and come into force on 1st October 2012. http://www.legislation.gov.uk/uksi/2.../contents/made. This affects Limited Companies, Limited Farms and Limited Liability Partnerships.
Audit Exemption criteria
- There is no change in the values of the limits (e.g. the turnover threshold remains as £6.5M).
- Mandatory audit thresholds will be aligned with the accounting thresholds for small companies, meaning that if a company is small, it is audit exempt.
In summary, for accounting periods ending on or after 1st October 2012 if the company size is set to small, audit exemption will be enabled.
Software fixes
42023 Charity Independent Examiner calculation- We have corrected the incorrect business rule issue in the Charity module, which was forcing an Audit Report when an Independent Examiner’s Report was only required. There is a scenario where we test for average assets over £3,260,000 AND Gross Annual Income is over £250,000. We were not testing correctly on both limits, so it was only incorrectly looking if we exceeded one of these values.
41948 Abbreviated accounts, merging front cover- In some datasets, when generating iXBRL for Abbreviated accounts, the front cover and contents are merging onto a single A4 page. This has been resolved in this release and the page break is enforced.
43216 Vizauditor Correction
In the Vizauditor screen, the option to select the print type when the “File” radio button has been selected has been restored.
41938 Compatibility to new ixbrl.taxonomy.dll file - The incompatibility issue with VAP 7.4x and CCH Review & Tag 2012.2 or CCH Review & Tag 2012.2 SP1 that stopped VAP being able to produce iXBRL output has now been resolved in this release.
47929 Accountants’ Report (CCAB) - paragraph update - The CCAB Introduction and Dormant CCAB Introduction paragraphs have been corrected for incorrectly testing on the number of directors. It should have been referring to the firm of accountants producing the report i.e. when there was a single director you were seeing “I” rather than “We”.
Format fixes
47935 Partnership Balance Sheet – Long Term Bank Loans - The Partnership and Farm Partnership Balance Sheet formats have been updated to correct an issue affecting Long Term Loans primarily for our 4 digit users. We have replaced the global range CMYDL with NSLTBL.
| Global Range | 3 digit | 4 digit |
| NSLTBL | 901..903 | 7000..703Z |
| CMYDL | (901..903)+91A | 6900..6934 |
41396 Accountants’ Report (CCAB) - LLP - We have corrected the page header to refer to Members rather than Directors.