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Gaining audit experience outside the UK

The UK Companies Act allows for the recognition of some overseas company audit work ‘where it appears to the Financial Reporting Council (the UK regulator) that the law and practice [of a country or territory outside the United Kingdom] with respect to the audit of company accounts is similar to that in the United Kingdom.’

The judgment required by the Financial Reporting Council relates to the territory as a whole, rather than to any specific audit work performed.

Is my audit experience recognised under the UK Companies Act?

To assess your eligibility, please select the link below which describes the company audit from which you are citing your audit experience:

Audit of UK, Irish, German, Cypriot, Luxembourgish or Dutch companies

Individuals gaining audit experience on the audit of companies registered in these countries or territories may gain audit experience within an audit registered firm, which is also an ICAEW Authorised Training Employer (ATE).

The experience may only be counted from the date that the regulator assessed the law and practice of the jurisdiction as being acceptable:

From 1 Oct 1991 Republic of Ireland
From 11 October 2000 Germany
From 7 May 2010 Republic of Cyprus
Luxembourg
The Netherlands

Eligible experience may only be gained from the date specified, any experience gained before this date will not be accepted.

Audit experience within the Crown Dependencies

The UK Financial Reporting Council has recently assessed audit work in the Crown Dependencies and has concluded that Crown Dependency audit experience may be cited as qualifying audit experience for the UK audit qualification with ICAEW as long as the experience was gained:

  • Within an ICAEW ATE
  • Within a UK registered auditor
  • Under the supervision of a 'responsible individual'
  • On the audit of 'market traded companies'
  • On or after 4 April 2011

ICAEW cannot accept work experience which does not meet the above requirements.

Audit experience within the EU but outside of accepted territories

If you obtain your audit experience within an EU firm of registered auditors which is also an ICAEW ATE, you may count that time towards some but not all of the requirements:

Three years general training and work experience Requirement met
Two years work experience within a firm of registered auditors Requirement met
120 days of work similar to UK statutory audit
(if it meets the definition of ‘other’ audit work)
Requirement met
120 days of UK statutory audit  Outstanding

If you already hold statutory auditor status in your home country, please check whether you meet the requirements to be recognised under the EU Statutory Audit Directive as a migrant auditor.

Audit experience outside of the EU

Unfortunately, we cannot accept the majority of experience gained outside of the EU. Only the three years of general experience can be gained if you worked for the full three years in an ICAEW ATE:

Three years general training and work experience Requirement met
Two years work experience within a firm of registered auditors Outstanding
120 days of work similar to UK statutory audit Outstanding
120 days of UK statutory audit work Outstanding

In order to be eligible for the ICAEW Audit Qualification you would need to complete at least an extra two years in a firm of registered auditors in the EU.

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Audit Qualification FAQs.

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If you are a member of another professional body outside of the EU, and wish to gain UK statutory audit rights please select your home body from our join us page.