If you are a member of a professional accountancy body within the EU and intend to provide audit services in the UK, you may be eligible to become an ICAEW member under the Statutory Audit Directive.
In order to gain membership under the Statutory Audit Directive, you must hold audit rights in your home country and pass an aptitude test in UK tax and law. If you gain membership via this route, you will be awarded the Audit Qualification which you will need to apply for audit rights.
The Audit Qualification
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Is a statutory status needed by and applied for by a member
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It is issued by ICAEW under delegated powers from the UK Companies Act
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When combined with a practising certificate, this allows a member to then apply for audit rights - ie the ability to sign a statutory audit report
Why you need an Audit Qualification
Working in audit, you will be considered as working in a regulated area, which means that the audit work conducted is supervised by one of the UK’s Recognised Supervisory Bodies (RSB’s) which monitors firms to ensure that work is completed competently, ethically and appropriately.
Am I eligible?
If you answer yes to all of the questions below, then you are eligible to apply to sit the aptitude test in tax and law:
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I am a member of a professional accountancy body within the EU
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I am licensed by my home body as a statutory auditor
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I have qualified with this body via the normal training and education route
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I am in good standing with my home body
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I am an EU national
If you responded ‘no’ to any of the above questions then unfortunately you are not eligible for membership under the statutory audit directive.
How do I apply?
You will need to submit the following supporting documentation to The Applications Team, 321 Avebury Boulevard, Milton Keynes, MK9 2FZ:
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Confirmation of home body membership
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A letter of good standing from your home body, confirming:
- you have no disciplinary record with your home body
- no outstanding complaints with your home body; and
- that your home body are aware of no ethical or other reason why you could not be admitted to ICAEW.
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Confirmation from your home body that you are a statutory auditor in your home country
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Confirmation from your home body that you qualified with them via their normal training and education route, and not via a reciprocal or advanced credit route
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Evidence of your nationality, such as a copy of your passport
All documents produced by your home body must be certified in English in order for your application to be processed. Failure to provide all of the information with your application may result in a significant delay in your application being assessed.
What is the aptitude test?
ICAEW will set a test for all applicants joining via the Statutory Audit Directive. This is designed to test knowledge on UK tax and law and you will have a maximum of four attempts to pass each examination. You will have access to further information on the assessments via the following links once we have received your full application.
Gaining audit rights in the UK
Once you have gained ICAEW membership and the Audit Qualification via the Statutory Audit Directive then you will need to apply for a practising certificate and Responsible Individual status in order to gain UK audit rights.
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