What the document covers
The notice states that the 2007 public report superseded the earlier practice monitoring direction. It records a replacement of guidance, not a new inspection outcome for an individual.
Specific requirements and implications
The notice refers readers to the public report issued on 24 July 2007 and revokes Practice Direction 2 of 2005 with immediate effect. It is an administrative update about the applicable explanatory material, rather than a new inspection finding against an individual accountant. Its value is in establishing which earlier direction ceased to apply and directing historical research to the replacement report.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
Read the official PDF ↗