The Auditing Practices Board (APB) intends to update its auditing standards for the new, clarified, International Standards on Auditing (ISAs) issued by the International Auditing and Assurance Standards Board (IAASB). These new standards will be effective for audits of financial statements for periods ending on or after 15 December 2010.

Supplementary material will be announced where it is considered necessary to address specific UK and Irish legal and regulatory requirements, provide guidance related to legal and regulatory matters relevant to an audit and maintain APB requirements and guidance that are necessary to prevent changes in audit practice to the detriment of audit quality.