Practice Note for Auditing SMEs

Understanding the Recently Published Practice Note for Auditors

The Financial Reporting Council (FRC) invites stakeholders to attend an upcoming webinar focusing on its recently published Practice Note. This webinar will provide stakeholders with an opportunity to engage with members of the FRC policy team responsible for developing the Practice Note, who will be sharing insights into how it was created, the considerations taken to ensure its appropriateness for the current audit landscape, and the FRC's plan to engage with auditors further on its application.

Webinar Focus

This session provides direct access to FRC policy team members who developed the Practice Note, offering stakeholders understanding of the development process, rationale behind key provisions, and how the guidance addresses contemporary audit challenges. The webinar also outlines how the FRC plans to support auditors in applying the Practice Note effectively.

Why Attend

Stakeholders gain insights into:

• Development Process: How the Practice Note was created and the considerations taken to ensure its appropriateness for the current audit landscape

• Policy Rationale: Understanding the thinking behind key provisions and how they address evolving audit requirements

• Application Guidance: The FRC's plan to engage with auditors further on applying the Practice Note in practice

• Direct Engagement: Opportunity to engage with FRC policy team members and ask questions about implementation

What to Expect

This FRC webinar delivers practical insights into the recently published Practice Note through direct engagement with the policy team responsible for its development. Stakeholders gain understanding of how the guidance addresses the current audit landscape while learning about FRC's plans for supporting auditors in implementing the Practice Note, providing clarity on expectations and practical application considerations.