The Auditing Practices Board (APB) of the FRC has published its compendium of ‘Standards and Guidance 2010’. This may be obtained (price £50.00, post free) from:

FRC Publications
145 London Road
Kingston upon Thames
Surrey KT2 6SR.
Telephone 020 8247 1264.
Website www.frcpublications.com.

The compendium includes the new suite of auditing standards that are applicable to audits of financial periods ending on or after 15 December 2010. The auditing standards applicable for earlier periods are available on the APB’s website (http://www.frc.org.uk/apb/publications/isa/dec2004.cfm) and in the previous, 2009, edition of the compendium.

1. The Financial Reporting Council (FRC) is the UK’s independent regulator responsible for promoting confidence in corporate reporting and governance. Its functions are exercised principally by its operating bodies (the Accounting Standards Board, the Auditing Practices Board, the Board for Actuarial Standards, the Financial Reporting Review Panel, the Professional Oversight Board and the Accountancy and Actuarial Discipline Board) and by the FRC Board. The Committee on Corporate Governance assists the Board in its work on corporate governance.
2. The APB is committed to leading the development of auditing practice:
   • To establish high standards of auditing;
   • To meet the developing needs of users of financial information; and
   • To ensure public confidence in auditing.
3. In October 2009 the APB issued a new suite of International Standards on Auditing (ISAs) (UK and Ireland) that are effective for audits of accounting periods ending on or after 15 December 2010. In addition to these standards the compendium includes:
   • International Standard on Review Engagements (ISRE) (UK and Ireland) 2410
   • Standards for Investment Reporting (SIRs)
   • Ethical Standards for Auditors (Revised);
   • Ethical Standard for Reporting Accountants.
   It also includes selected Practice Notes and Bulletins likely to be of broad current interest.
4. Individual copies of all the APB’s pronouncements may continue to be downloaded free of charge from the Publications section of the APB’s website (http://www.frc.org.uk/apb/publications/)
5. All press enquiries should be directed to: Jon Grant on 020 7492 2410.