Audit arrangements in the Crown Dependencies of Jersey, Guernsey and the Isle of Man
From 5 April 2010, revised arrangements apply to firms that audit companies incorporated in one of the Crown Dependencies that have 'transferable securities' admitted to trading on a 'regulated market' in the EU. The arrangements apply even if the firm or company is not operating in a Crown Dependency.
ICAEW, in conjunction with the Crown Dependencies, has produced a note on these arrangements (PDF 65KB/6 pages). This describes the audit arrangements that already exist for companies incorporated in the Crown Dependencies and the arrangements for those who audit 'listed' companies.
Audit rules
These arrangements include a common set of audit rules (PDF 178KB/56 pages) for firms in the Crown Dependencies that audit these companies. They are based on ICAEW’s audit regulations. You can also view a note of the changes to the original rules (PDF 21KB/2pages).
Initial return
New firms registering under these arrangements are asked to complete an initial return (Word 106KB/3 pages).
Fee scale
Each Crown Dependency sets initial and annual fees for registration as a recognised auditor and these fees can be viewed as follows:
ICAEW also has a fee scale (PDF 166KB/3pages), which includes charges for the Audit Inspection Unit and the Professional Oversight Board.
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