As a consequence of the assent on 28 June 2010 of the Corporations Amendment (Corporate Reporting Reform) Act 2010, significant statutory changes have been made that affect reporting obligations for financial years ending on or after 30 June 2010.
This update of the XYZ Model Financial Accounts Generator includes the following new features under the corporate reporting reform:
- Rollover function to transfer data from the Entity Info, Data Input and Note Pad worksheets in your 2009 and 2010 versions of the XYZ Model Financial Accounts Generator to the updated Corporate Reporting Reform templates.
- Key Not for Profit template now also applicable to public companies limited by guarantee.
- New streamlined directors’ report, which complies with the current statutory requirements applicable to Tier 2 and Tier 3 public companies limited by guarantee.
- New auditor’s review report applicable to reviews of Tier 2 public companies limited by guarantee, based on the new Auditing Standard on Review Engagements ASRE 2415: Review of a Financial Report — Company Limited by Guarantee.
- Templates for consolidated entities now enable omission of parent entity financial statements through the inclusion of the new Parent Information note.