Good news for auditors: Richard Fleck, chairman of the Auditing Practices Board, believes 'a stable period is now needed' given the number of new standards recently issued.

Fleck's comments accompanied the publication in January of a consultation paper setting out the APB's proposed work programme for the year to 31 March 2007. The document highlights the extent of changes made to the UK auditing environment in the last two years, including the issuing of a complete suite of new International Standards on Auditing (UK and Ireland), revised Standards for Investment Reporting, and new ethical standards for auditors.

The APB therefore now plans to focus on international developments, such as the International Auditing and Assurance Standards Board's clarity project and the adoption of ISAs by the EU, as well as updating UK industry-specific practice notes.