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APB issues new Standard on the review of interim financial information

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.


The Standard adopts the text of ISRE 2410 which was issued by the International Auditing and Assurance Standards Board (IAASB) in July, 2005. The APB has added a relatively small amount of supplementary material, highlighted with grey shading, in order to clarify certain matters (for example in relation to the Rules and Regulations implementing the requirements of the EU Transparency Directive (‘the Directive’) applicable to UK and Irish listed companies) and to perpetuate existing APB material in Bulletin 1999/4 that remains pertinent. The Standard can be accessed on the APB’s website at .


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.