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| APB issues revised guidance on the audit of credit unions |
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By
Richard Fleck, APB Chairman
May 31, 2011 |
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The Auditing Practices Board (APB) of the FRC today issued a revision of Practice Note 27 “The audit of credit unions in the United Kingdom”. An exposure draft of the revised Practice Note was issued in October 2010 for public comment.
The revised Practice Note updates the guidance for auditors to reflect the issuance of the new ISAs (UK and Ireland) which apply to audits of financial statements for periods ending on or after 15 December 2010.
Richard Fleck, APB Chairman, said:
“This Practice Note provides guidance for the audits of credit unions in the UK, many of which are undertaken by smaller audit firms. The APB hopes that auditors of credit unions will find the revised and clarified guidance helpful in carrying out their work”
A copy of the Practice Note may be downloaded from the publications section of the APB’s web site at: http://www.frc.org.uk/apb/publications/pub2586.html.
Printed copies at a cost of £15.00, are available from: FRC Publications, 145 London Road, Kingston upon Thames, Surrey KT2 6SR. Telephone 020 8247 1264. E-mail: cch@wolterskluwer.co.uk. Website: www.frcpublications.com
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