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ICAEW consults on proposed updates to Tech 01/06 AAF

ICAEW is seeking comments on proposed updates to its guidance on assurance reports on internal controls of service organisations made available to third parties (Technical Release 01/06 AAF) in a public consultation that runs to 30 September 2019.

One of the primary objectives of the proposed amendments, developed with the help of a working party set up by ICAEW’s audit and assurance faculty (AAF), is to ensure that the guidance can be used by a broader range of accountancy firms. With this in mind, the proposed changes include further guidance for service auditors, as well as more practical examples on control objectives and reporting.

ICAEW head of financial reporting, audit and assurance Dr Nigel Sleigh-Johnson said: “Tech 01/06 is internationally-recognised and underpins the work of firms of accountants in this area. The proposed changes to the existing guidance are important and should improve its accessibility.”

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