Bank letters procedures –your feedback
The current procedures for the request of bank audit letters have been in force for periods commencing on or after 26 December 2007 and are outlined in Practice Note 16 ‘Bank reports for audit purposes in the United Kingdom’.
The procedures in force were agreed between the UK auditing profession and the British Bankers Association (BBA) and their application is subject to regular monitoring by the parties involved in the agreement for the purposes of identifying areas where compliance could be improved and possible amendments that could improve the efficiency of the process.
ACCA UK is interested in obtaining comments from its members about their experiences of the application of the current procedures obtained over the past few years, including any excellent service you have received and also regular or one-off problems with specific banks.
This feedback (which will be treated in confidence) on the issues that have emerged will be shared with the representatives of the BBA in order to seek remedy and to improve the process in the future.
Please send comments to email@example.com