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30 March 2011

APB: Überarbeitete Leitlinien zum Thema 'The Audit of Banks and Building Societies in the United Kingdom'


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The Auditing Practices Board of the FRC published a revision of Practice Note 19, 'The audit of banks and building societies in the United Kingdom'. An exposure draft of the revised Practice Note was issued in July 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, and for changes in legislation. In addition, the APB has also revised and enhanced the guidance in a number of areas, including in relation to the audit of accounting estimates and impairment provisions and related disclosures. The APB has also added guidance on bilateral and other periodic meetings between auditors and the FSA.

Richard Fleck, APB Chairman, said: “In addition to updating the Practice Note for the new auditing standards, the APB also considered this an opportune time to enhance the guidance in relation to areas that were identified as being of particular interest in the credit crisis. The APB intends to update the references to the FSA within Practice Note 19 at an appropriate time following the future restructuring of the FSA.”

Press release


© FRC


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