APB issues Revised Guidance on Attendance at Stocktaking

News types: Guidance, Publications

Published: 22 February 2011

APB PN 143
The Auditing Practices Board (APB) of the FRC today publishes a revision of Practice Note (PN) 25: ‘Attendance at Stocktaking (Revised)’. An exposure draft of the revised PN was issued in July 2010 for public comment.

The revision updates the current guidance to reflect the issuance of the new International Standards on Auditing (ISAs) (UK and Ireland) (which apply to audits of financial statements for periods ending on or after 15 December 2010).

Richard Fleck, APB Chairman, said:

“In addition to updating the references to the new ISAs (UK and Ireland) this Practice Note maintains the guidance that the APB had included within the previous ISAs (UK and Ireland).”


A copy of the Practice Note may be downloaded from the publications section of the APB’s website at: Attendance at Stocktaking.

Notes to Editors

  1. The Financial Reporting Council (FRC) is the UK’s independent regulator responsible for promoting high quality corporate governance and reporting to foster investment.

  2. The APB is committed to leading the development of auditing practice in the United Kingdom and the Republic of Ireland so as to:

    • establish high standards of auditing;

    • meet the developing needs of users of financial information; and

    • ensure public confidence in auditing.

Document created under a former FRC operating body.

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