Practical guidance on revised bank letter procedures
28 Mar 08
Practical guidance on applying the Auditing Practices Board's revised procedures for bank letters is now available to download from the ICAS website
Practical guidance on applying the Auditing Practices Board’s revised procedures for bank letters is now available to download from the ICAS website. Practice Note 16, Bank Reports for Audit Purposes, was published by the APB in December 2007. The practice note summarises revised procedures agreed between representatives of the UK auditing profession and the British Bankers’ Association (BBA) regarding the process auditors follow when requesting confirmation of bank balances, transactions or arrangements from the bankers of an entity being audited.