Accountancy profession

This page presents an overview of instructions and guidance for small practices to prepare during the transition period following Brexit.

Find out more about the potential implications of Brexit on the provision of accountancy and related advisory services, as well as on accountancy training and qualifications.

This page presents an overview of instructions and guidance for small practices to prepare during the transition period following Brexit.

Guidance issued prior to Brexit by ICAEW on audit regulation largely addressed the potential need for immediate action should withdrawal occur with no agreement, a no-deal Brexit. As a withdrawal agreement has been signed, the steps identified as part of a no-deal do not apply on 1 February 2020, but potentially will still come into force on 31 December 2020. This applies to arrangements both in the UK and Ireland.

Regulations and guidance for those working in the regulated area of audit in the UK, Ireland and the Crown Dependencies.

Information for firms that undertake audits of Irish entities.

Amended requirements impacting on Public Interest Entity (PIE) audits

BEIS and the FRC have issued on 22 February 2019 five documents that set out the necessary steps all audit firms (large and small) should undertake to prepare for Brexit including no-deal outcomes.

Auditors of UK companies (ie, companies incorporated in the UK) with listings on the Irish Stock Exchange, (such as listed debt), will be required to register with IAASA as third country auditors at the end of the transition period (31 December 2020) unless their registration continues to be accepted on the Irish audit register.