New Irish government audit best practice

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.”

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