APB publishes Exposure Draft of a revision of Practice Note 11 - The Audit of Charities in the UK
News types: Consultation Announcement
Published: 21 October 2010
APB PN 135
The Auditing Practices Board (APB) today issues an exposure draft of a proposed revision of Practice Note 11 “The Audit of Charities in the UK”. The consultation period ends on 21 January 2011.
Richard Fleck, Chairman of the APB and a director of the FRC commented:
The Auditing Practices Board (APB) today issues an exposure draft of a proposed revision of Practice Note 11 “The Audit of Charities in the UK”. The consultation period ends on 21 January 2011.
Richard Fleck, Chairman of the APB and a director of the FRC commented:
“This Practice Note, which was last issued in December 2008, has been updated, primarily, to reflect the introduction of the clarified ISAs (UK and Ireland) that become effective for periods ending on or after 15 December 2010 and recently enacted Northern Irish legislation. We welcome comments on these changes and any other aspects of the guidance from practitioners and other interested stakeholders.”
Notes to Editors
- The FRC is the UK’s independent regulator responsible for promoting high quality corporate governance and reporting to foster investment. 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.
- The APB is committed to leading the development of auditing practices in the United Kingdom and the Republic of Ireland so as to:
- establish high standards of auditing;
- meet the developing needs of users of financial information; and
- ensure public confidence in auditing.