ICAEW REP 61/20 Practice note 10: Audit of financial statements and regularity of public sector bodies in the United Kingdom
Released 01 September 2020
The Institute of Chartered Accountants in England and Wales (ICAEW) has issued ICAEW REP 61/20, which comments on Practice Note 10: Audit of Financial Statements and Regularity of Public Sector Bodies in the United Kingdom (revised 2020), published by the Public Audit Forum.
The Institute says it welcomes the update to Practice Note 10 but has some reservations regarding the audit requirements for going concern. It proposes a relaxation of some of the going concern requirements as it believes these are inappropriate for all government entities.
View ICAEW REP 61/20.