On 11 December, Beale & Co published an article saying that in May the Financial Reporting Council (FRC) issued a revision of its UK auditing standard on the responsibilities of auditors relating to fraud; and says that practitioners must be alert to the amendments which introduce several tougher rules particularly around risk assessment.  The new standards will be effective for audits of financial statements for periods commencing on or after 15 December.

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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