APB revises PN 15

News Article - 03 April 2007
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The Auditing Practice Board (APB) has issued a revised version of its practice note (PN) relating to occupational pension schemes.

With regard to PN 15 – The audit of occupational pension schemes in the United Kingdom - the revised edition has been made available after a consultation draft was issued for public comment in August 2006.

Richard Fleck, APB Chairman, said he hoped that auditors would find the changes to be of use.

"Although there have been a number of changes in the regulatory arrangements for occupational pension schemes since the previous version of PN 15 was issued in 2004, the substance of the guidance in the practice note has not needed major revision."

The document is available to interested parties who wish to download it from the APB's website.

In March, the board issued a bulletin entitled The Duty of Auditors in the Republic of Ireland to Report to the Director of Corporate Enforcement to provide auditors with guidance on how to report suspected serious incidents to their directors.

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