The Accounting Professional & Ethical Standards Board Limited (APESB) held a board meeting from 10 to 11 November 2008.

The board agreed that APS 9 Statement on compilation of financial reports will be withdrawn from 31 December 2008. APES 315 Compilation of financial information will replace APS 9 and be effective from 1 January 2009.

APES 345 Reporting on prospective financial information prepared in connection with a disclosure document has been issued for engagements commencing on or after 1 July 2009. This will replace the existing F2 Prospectuses and reports on profit forecasts.

Exposure draft ED 04/08 Forensic accounting services will be subject to minor re-drafting prior to finalisation shortly. When issued, the forensic accounting services standard will be effective for engagements commencing on or after 1 July 2009.

Additionally, the board also considered various exposure drafts and the annual review of existing standards.

For further information visit the Meetings section of the APESB website.