APB Issues Draft Revised Guidance on the Audit of Financial Statements of Public Sector Bodies in the United Kingdom

The Auditing Practices Board (APB) has announced the publication of a consultation draft of a revision of Practice Note 10 (Revised): “Audit of Financial Statements of Public Sector Bodies in the United Kingdom”. The consultation period ends on 16 September 2005.

In December 2004 a series of International Standards on Auditing (ISAs) (UK and Ireland) were issued by the APB to replace Statements of Auditing Standards (SASs). The ISAs (UK and Ireland) are effective for audits of accounting periods commencing on or after 15 December 2004.

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