HFMA response / The HFMA’s response to the Public Audit Forum’s consultation on Practice Note 10 (revised 2020) exposure draft

03 September 2020 Lisa Robertson
1 CPD hour
The Public Audit Forum has asked for views of stakeholders on the exposure draft for the 2020 revision of Practice Note 10: Audit of Financial Statements and Regularity of Public Sector Bodies in the United Kingdom (PN 10).

PN 10 was last revised in 2016 and the new revision updates the Practice Note to take account of recent changes to International Standards on Auditing (ISAs), principally on accounting estimates and going concern. The exposure draft also includes additional guidance on defining the scope of the framework of authorities on which the regularity of transactions depends.

The HFMA’s response to the consultation includes comments on the proposed changes to the section on ISA570 Going Concern and the audit of regularity.


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