A new bulletin has been released by the Auditing Practices Board aimed at
providing guidance for auditors when reviewing a company’s statement made in
relation to the Combined Code on Corporate Governance.
The bulletin takes account of the issuance of ‘Internal Control: Revised
Guidance for Directors on the Combined Code’ (Turnbull Guidance) in October 2005
and also covers the issuance of revised Listing Rules in 2005.
Changes made by the Turnbull review are discussed in the Bulletin.
‘This Bulletin provides guidance for auditors in complying with the
requirements of the Listing Rules that require the auditors to review statements
made by the directors concerning their compliance with certain of the provisions
of the Combined Code,’ commented Richard Fleck, APB chairman.
‘The auditor’s approach remains similar to that which has applied since the
original Cadbury Code was issued,’ he added.
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