The Auditing Practices Board (APB) of the FRC has this week issued for comment a consultation draft of a revision of Practice Note 25 “Attendance at stocktaking.” The consultation period ends on 5 October 2010.
The consultation draft updates the current guidance 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.