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Documents, Reports and Statements
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Voluntary Code of Practice on Disclosure of Audit Profitability
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The Consultative Committee of Accountancy Bodies (CCAB) has published a Voluntary Code of Practice on Disclosure of Audit Profitability. It takes effect for accounting periods beginning on or after 6 April 2009.
Publication of the Code follows an invitation from the Financial Reporting Council (FRC) for the CCAB to develop guidance to audit firms on the voluntary disclosure of the financial results of their work on statutory audits and directly related services.
The Code is in line with a recommendation by the FRC’s Market Participants Group (MPG), developed as part of the Choice in the UK Audit Market project. The MPG published its Final Report in October 2007 Read Voluntary Code hereRead Press Release here |
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The FRC's Draft Plan 2009/10, Proposed Updates To The Strategic Framework and 2009/10 Levy Proposals
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The FRC has consulted on its draft Plan and Budget 2008/09 and updates to its Strategic Framework. The consultative document can be accessed here . The CCAB's response can be found here
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Exposure Draft - Voluntary Code of Practice on Disclosure of Audit Profitability
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In October 2006, the Financial Reporting Council (FRC) established a Market Participants Group (‘MPG’) to provide advice in relation to its Choice in the UK Audit Market project. The MPG published its Final Report in October 2007.
Recommendation 2 stated that ‘Audit firms should disclose the financial results of their work on statutory audits and directly related services on a comparable basis.’ The Consultative Committee of Accountancy Bodies (CCAB) was then invited to develop guidance to audit firms on the voluntary disclosure of this information.
Comments on the exposure draft of this voluntary code are invited by 31 December 2008. Read Document here |
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FRC Priorities for Future Arrangements for Funding the FRC's Activities in Relation to Accounting, Auditing and Corporate Governance
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The FRC has consulted on its proposals. The consultation can be accessed here . The CCAB's response can be found here |
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CCAB Anti-Money Laundering Guidance: August 2008
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Guidance for all entities providing audit, accountancy, tax advisory, insolvency or related services, such as trust and company services, by way of business, on compliance with the law from 15th December 2007. Firms should use this Guidance (which has been approved by HM Treasury) to implement the new requirements.
This guidance is the final version of that which was published on this web-site on 10 December 2007. It has been updated to accommodate HM Treasury comments received. Those with any queries should seek advise from their professional body or anti-money laundering regulator. Read the Document here
An exposure draft of the additional guidance for tax practitioners, which will be appended to the CCAB guidance, has been issued. The guidance has been developed by the Chartered Institute of Taxation, the Institute of Chartered Accountants in England and Wales, the Association of Chartered Certified Accountants, the Chartered Institute of Management Accountants, the Association of Taxation Technicians, and HMRC. This has been submitted to HM Treasury for approval.
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POB Consultation on Draft Publication Scheme Consultation on Draft Publication Scheme
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The POB has consulted on its draft publication scheme. The consultation can be accessed here. The CCAB's response can be found here. |
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FRC's Draft Plan & Budget 2008/09
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The FRC has consulted on its draft Plan and Budget 2008/09. The consultative document can be accessed here . The CCAB's response can be found here |
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AADB - The Accountancy Scheme Review - Consultation
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AADB has consulted on its proposed changes to the AADB scheme. The consultation document can be accessed here. The CCAB's response can be found here |
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Draft Revised Ethical Standards for Auditors
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The FRC’s Auditing Practices Committee has been consulting on changes to its ethical standards on auditor independence. The consultation document can be accessed here CCAB’s response can be found here |
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Anti-Money Laundering Guidance for the Accountancy Sector
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Exposure Draft of Guidance for those providing audit, accountancy, tax advisory or insolvency related services in the United Kingdom, on the prevention of money laundering and the countering of terrorist financing. Issued by the Consultative Committee of Accountancy Bodies, in October 2007, for comment by 12 November 2007.
Read the document here |
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