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Audit and assurance helpsheets

Helpsheets prepared by ICAEW technical specialists to assist you in your day-to-day work. We offer practical advice, respond to frequently asked questions and highlight the issues you may need to consider.

Audit and Assurance Faculty helpsheets

For any queries relating to these helpsheets, please contact the Audit and Assurance Faculty on +44 (0)20 7920 9493, or email tdaf@icaew.com

The Audit and Assurance Faculty have produced a number of helpsheets. These are designed to help firms to prepare their audit reports for certain specific situations. They cover the main changes that are needed to be made to the examples in the FRC’s Compendium of illustrative auditor’s reports and to help firms to comply with the relevant law and International Standards on Auditing (UK).

Preparing a non-statutory audit report

This helpsheet is designed to explain the main changes that are needed to be made to the company examples in the FRC’s Compendium of illustrative auditor’s reports. This helpsheet applies to opinions issued in accordance with ISAs (UK) for entities other than companies where there is no statutory or regulatory requirement for an audit to be undertaken.

Preparing an audit report for Limited Partnerships

This helpsheet is designed to explain the main changes that are needed to the audit report of a limited partnership (LP) formed under the Limited Partnerships Act 1907, which is not a Qualifying Partnership and that does not prepare group financial statements, compared to that of a company. It does not seek to explain every difference, just the key areas to consider as a result of the differing legal and regulatory requirements.

Preparing an audit report for Qualifying Partnerships

This helpsheet is designed to explain the main changes that are needed to the audit report of a limited partnership which is a qualifying partnership (QP), and that does not prepare group financial statements, compared to that of a company.

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Technical Advisory Services helpsheets

If you cannot find the answer to your specific question, please contact the Technical Advisory helpline on +44 (0)1908 248 250.

Audit exemption conditions for companies

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Techical helpsheet in the form of a flowchart, outlining the audit exemption conditions for companies.

Audit exemption beginning on or after 2016

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Stacey Tapp, ICAEW Technical Advisor, explains the criteria for determining whether an audit is required and answers commonly asked questions about audit exemption for periods commencing on or after 1 January 2016.

Audit exemption beginning before 2016

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Stacey Tapp, ICAEW Technical Advisor, explains the criteria for determining whether an audit is required and answers commonly asked questions about audit exemption for periods commencing before 1 January 2016.

Audit of clubs and associations

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Technical helpsheet regarding audit regulations for clubs and associations.

Audit reports

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Technical helpsheet outlining changes made by the Companies, Partnerships and Group (Accounts and Reports) Regulations 2015 (SI 2015/980) to section 496 of the Companies Act 2006, which give auditors additional responsibilities for the directors and strategic reports, for periods commencing on or after 1 January 2016.

Auditing Standards 2016

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Technical helpsheet on the FRC Auditing Standards 2016 for periods commencing on or after 17 June 2016. It explains some key changes to the ISAs (UK), which replace the previous ISAs (UK & Ireland).

Auditor Resignation under Companies Act

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Technical helpsheet explaining what happens when an auditor resigns from periods commencing before 1 October 2015.

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