Withdrawal of Practice Notes 25 and 27
11 December 2018
The Financial Reporting Council (FRC) has withdrawn the following Practice Notes:
Practice Note 25 Attendance at Stocktaking
This Practice Note was last revised in February 2011 and much of the content is covered by application material in ISA (UK) 501 Audit Evidence – Specific Considerations for Selected Items and other ISAs (UK). As a result, it is no longer appropriate to support high quality work and so it has been withdrawn with immediate effect.
Practice Note 27 The Audit of Credit Unions in the United Kingdom
This Practice Note was last revised in May 2011 and relates to a small sector on non-PIE entities which the FRC no longer considers necessary to provide guidance on. Accordingly, this Practice Note has been withdrawn with immediate effect.