The Auditing Practices Board (APB) of the FRC has this week issued guidance for auditors where financial statements have been tagged for XBRL purposes.
Richard Fleck, Chairman of the APB and a director of the FRC said,
"XBRL tagging of UK statutory financial statements is required for tax purposes in 2011. This guidance provides background information on that requirement and on the application of APB's Ethical Standards for Auditors to non-audit services relating to XBRL tagging. Currently XBRL tagging is not within the same scope of an audit performed under ISAs (UK and Ireland)."