Audit Procedures Manual (UK)
Our Audit Procedures Manual (UK) contains guidance to support the Mercia audit methodology which is reflected in our Audit Manual Packages and some of our Specialist Manuals such as the Charities, Academies and Pension Schemes Manuals. It also includes guidance on audit regulation and quality management.
Our Audit Procedures Manual (UK) can be browsed online or sections of commentary or the whole manual can be downloaded in Microsoft word or PDF.
- Guidance notes that provide you with a background as to how to use the manual and a what’s changed letter identifying all changes from the previous version of the manual.
- General audit procedures containing guidance sections and appendices on general audit procedures, including planning, controlling, recording and completion of audit work.
- Specific audit procedures by audit area, for example, income and debtors, contains guidance for each individual fieldwork section of an audit file and explains the key assertions and likely procedures that are needed.
- The ethical standard section contains an explanation of the procedures needed to comply with the FRC’s Ethical Standard.
June 2024
The principal technical changes in this update include:
- Revisions in accordance with the FRC's Revised Ethical Standard;
- Changes to ISA 505 External Confirmations; and
- Best practice amendments.
January 2024
The principal technical changes in this update include:
- Removal of content for periods commencing before 15 December 2021 as this is no longer relevant; and
- Best practice amendments.
August 2023
The principal technical changes in this update include:
- Changes in relation to ISA (UK) 600 Special considerations - Audits of group financial statements (Including the work of component auditors); and
- The introduction of a new (optional) statistical sampling approach.
February 2023
The principal technical changes in this update include the removal of content relating to the now superseded ISQCs and consequential amendments arising as a result of this.
In addition, a number of minor amendments / improvements have been made to other sections of the package, including updating engagement letters to reflect latest guidance.
April 2022
This major update to the methodology principally incorporates:
- ISA (UK) 315 (Revised July 2020) Identifying and assessing the risks of material misstatement;
- ISA (UK) 240 (Revised May 2021) The auditor’s responsibilities relating to fraud in an audit of financial statements; and
- Consequential amendments as a result of the new quality management standards.
| Annual subscription fee | |
| Sole Practitioner / Non-Audit Firm* | £189.00 |
| Audit registered firms with 2-4 RIs* | £305.00 |
| Audit registered firms with 5-9 RIs* | £430.00 |
For 10 or more RIs please contact us at sales@mercia-group.com or call 0330 058 7141.
*Mercia Members receive a 10% discount.
All prices are subject to VAT. Prices are subject to change on 1 July.
Mercia online manuals are updated regularly by our technical staff and you will be notified of any significant regulatory changes by email.
Your subscription will automatically auto-renew on anniversary date, you will be notified by email before your subscription expires and offered the option to opt out of auto-renewal.
Internet access.
Operating System: Windows, Mac IOS.
Applications: Full version of Microsoft Office or Mac equivalent, PDF Reader.
Members get more
Become a member today and get discount rates on our courses and products.
Find out more
Enquiries and ordering
To enquire about or place an order use the button below.
Alternatively, call us on 0330 058 7141.
