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FRC invites comments on proposals to update guidance for auditors of charities

12 May 2017

The FRC has issued a paper inviting stakeholder comments on proposed revisions to Practice Note 11: The audit of charities in the United Kingdom.

The Practice Note, has been significantly revised to reflect the updated regulatory landscape, the implementation of FRS 102 and a new Charities SORP, and the implementation of revised ISAs (UK) in 2016. Charities have also been the subject of extensive press, public and Parliamentary interest of late, and this revision of the Practice Note seeks to incorporate lessons learned, particularly with respect to going concern and the auditor’s responsibility to report to charity regulators. The changes are summarised in the Invitation to Comment document.

The proposed changes help to ensure that the Practice Note will continue to support the delivery of high quality audit for charities. Subject to stakeholder comments, the FRC will issue a final version of the revised Practice Note later in 2017.

The FRC welcomes comments on all aspects of the revised Practice Note by 5pm on Friday, 25 August 2017. Comments are invited in writing and should be sent to Kate Acott:

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