Audit Manual Package (UK)

• 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.
• Example engagement letters for audit and group audits and an example letter of representation. Other letters that may be of help throughout an audit include, bank letters, disengagement letters, a successor auditor requesting access letter and a planning communication letter. A group audit questionnaire is also included, along with a group audit instruction letter.
• Example audit reports, including groups for both UK GAAP and UK-adopted IAS. 
• Example pro-forma accounts for full FRS 102, FRS 102 1A (both full and abridged) and UK-adopted IAS.
• Accounts disclosure checklists for full FRS 102, FRS 102 1A, FRS 101, UK-adopted IAS and group FRS 102.
• Permanent file documentation that provides a structure for your permanent files and outlines the information required which is of continuing importance to an audit over a number of years.
• Current file documentation comprising of two separate packs of documentation for audit and group audit. The audit documentation provides you with the planning, completion and detailed work programmes needed to undertake an audit. Lead schedules and a current file index are also included. We also include a suite of spreadsheets including proforma working papers using Microsoft Excel.
• Supplementary forms that provide additional resources that may be useful for certain scenarios, including a file review checklist.
• This subscription also includes the Audit Procedures Manual (UK) which includes guidance on general audit procedures such as the planning, controlling, recording and completion of audit work. It also includes specific procedures by audit area, for example, income and debtors, and sets out the Mercia approach used within the programmes contained in your Audit Manual. There are also sections on Ethics and Audit Regulation and Quality Management. This manual will need tailoring by firms for their own internal policies and procedures.

September 2026

The principal technical changes in this update include:

• Expansion and renaming of the financial reporting framework supplementary forms to cover revisions to an existing framework, as well as changes between frameworks, together with the introduction of a new form addressing the impact of the changes to FRS 102 as a result of the Periodic Review 2024;
• Expansion and renaming of the tariff-related supplementary forms to address a broader range of global emerging issues and their potential impact on audits and audited entities;
• Updates throughout the manual to reflect the revised accounting requirements introduced by the FRS 102 Periodic Review 2024, including amendments to audit programmes and lead schedules; and
• Removal of content for periods commencing before 15 December 2023 in respect of ISA (UK) 600, as this is no longer relevant.
  

July 2025

The principal technical changes in this update include:

• Update of the example accounts and accounts disclosure checklists to reflect the September 2024 editions of UK and Ireland accounting standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and FRS 101 Reduced Disclosure Framework - Disclosure exemptions from adopted IFRS for qualifying entities;
• The new size criteria for companies and changes to the Directors' Report requirements as a result of The Companies (Accounts and Reports) (Amendment and Transitional Provision) Regulations 2024; and
• Additional support for those utilising Audit Data Analytics (ADA) within their audit work.

January 2025

The principal technical changes in this update include:

• Enhancements to the example letters; and
• Enhancements to component auditor workpapers.

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.

System Requirements

• Internet access
• Operating System: Windows, Mac IOS
• Applications: Full version of Microsoft Office or Mac equivalent, PDF Reader.