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Tax professionals will often be asked to provide input into the financial statement work undertaken by audit professionals. This guidance note is intended to give an overview of some of the key issues when undertaking audit work.

This note is an introduction only and is written on the assumption that users will seek guidance from their audit colleagues on the methodology to be adopted for the audit work required. In particular, it should be noted that most professional firms will have their own audit methodology that builds on the basic auditing standards as issued by the Auditing Practices Board.