FRC invites comments on revisions to Practice Note 11

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12 May, 2017

The Financial Reporting Council (FRC) has published a paper inviting comments on revisions to Practice Note 11: ‘The Audit of Charities in the United Kingdom’.

The main drivers for the revisions are:

  • revisions to UK auditing standards (ISAs (UK));
  • changes to UK accounting standards (Financial Reporting Standard (FRS) 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland) and the revision of the charities Statement Of Recommended Practice (SORP);
  • continuing developments in regulation and guidance issued by the Charity Regulators; and
  • changes in relevant legislation. 

Comments are requested until 25 August 2017. 

The press release and invitation to comment are available on the FRC website.

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