This update was first published in the February 2011 UK issue of Accounting and Business magazine.
The APB has published Bulletin 2010/2 Compendium of Illustrative Auditor’s Reports on UK Private Sector Financial Statements for periods ending on or after 15 December 2010.
The new bulletin contains 46 examples of auditor’s reports, illustrating the reporting requirements of the International Standards on Auditing (UK and Ireland) effective for financial periods ending on or after 15 December 2010.
In the past, illustrative audit reports published by the APB have been published across a number of distinct bulletins and practice notes, potentially making specific audit report examples difficult to locate. However, now all of the APB’s private sector audit report examples can be found in one document.
The new bulletin provides examples of audit reports for different types of entity, illustrating the interaction of the laws and regulations affecting those entities with the wording of the relevant audit reports. The APB envisages that the compendium will be updated on an annual basis.
Kern Roberts, senior manager, Smith & Williamson