New Irish government audit best practice
The APB has issued new guidance on central government audit for the Republic of Ireland
A NEW PRACTICE NOTE on Republic of Ireland central government audit has been released by the Auditing Practices Board.
It follows a six-month public consultation and reflects new International Standards on Auditing, which apply to financial statements for periods ending on or after 15 December 2010.
The APB is a sub-board of the Financial Reporting Council. Chairman Richard Fleck (pictured) said that the changes will “assist understanding of the new auditing standards”, adding: “The APB hopes that auditors of central government financial statements in the Republic of Ireland will find the revised and clarified guidance helpful in carrying out their work.”