Friday, 6th July, 2007: The Auditing Practices Board (‘APB’) has issued a new Statement of Standards for Reporting Accountants, viz: International Standard on Review Engagements (ISRE) (UK and Ireland) 2410, ‘Review of Interim Financial Information Performed by the Independent Auditor of the Entity’. The Standard is effective for reviews of interim financial information for periods ending on or after 20 September, 2007 and supersedes APB Bulletin 1999/4 ‘Review of Interim Financial Information’. Early adoption of the new Standard is permitted.
IAASA has been designated by the Minister for Trade & Commerce as the competent authority for the financial reporting enforcement aspects of the Directive, including those aspects of the Directive relating to issuers’ obligation to prepare and publish half yearly financial reports.