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Audit Exempt Companies - ACCA Accounts Preparation Report
ACCA has produced new guidance on the performance of accounts preparation engagements for audit exempt companies.
Technical Factsheet 163 'Audit Exempt Companies - ACCA Accounts Preparation Report' replaces previous guidance contained in Technical Factsheet 32.
The new factsheet introduces the ACCA Accounts Preparation Report, a cross-profession report developed by the Consultative Committee of Accountancy Bodies (CCAB). The report explains the accountant's involvement in the preparation of the company's accounts, makes reference to the ethical and other professional requirements placed by ACCA on its practising members and indicates the standard to which the work has been carried out.
ACCA recommends that the ACCA Accounts Preparation Report should be given where the practitioner's or firm's name is associated in any way with the financial statements which have been prepared by them. ACCA also strongly recommends that a copy of the ACCA Accounts Preparation Report be included with the financial statements filed at Companies House, as such a report would increase the credibility of the financial information placed on public record and would differentiate the accounts from those prepared by firms and individuals who are not members of one of the CCAB bodies.
Technical Factsheet 163 can be downloaded from the ACCA’s website at http://www.accaglobal.com/factsheet163.