The Auditing Practices Board (APB) of the FRC has published an exposure draft of a revision of Practice Note (PN) 15: ‘The Audit of Occupational Pension Schemes in the United Kingdom (Revised)’. The consultation period ends on 29 October 2010.
When finalised, the guidance proposed in the exposure draft will apply to the audits of occupational pension schemes for periods ending on or after 15 December 2010. The exposure draft updates the current guidance, which was issued in March 2007, to reflect:
- the issuance of the new ISAs (UK and Ireland) (which apply to audits of financial statements of occupational pension schemes for periods ending on or after 15 December 2010); and
- changes in the legislative and regulatory framework.
For more information and to download the exposure draft, please click here.