The UK Brexit transition period ended on 31 December 2020. New rules apply from1 January 2021. This page brings together guidance and support from ICAEW for accountants and auditors on running your practice, audit regulation and professional qualifications.
4 January 2021: The new Free Trade Agreement is a step back from the Single Market arrangements for the recognition of professional qualifications between the UK and the EU – but there is a clear way forward. Dr Martin Manuzi, ICAEW's Regional Director, Europe, summarises what the agreement means for professional recognition in the accountancy sphere and what else is relevant for ICAEW members.
4 January 2021: Following the end of the Brexit transition period, new UK Audit Regulations are now in place, effective 1 January 2021. The major changes involve the qualification of EEA auditors and firms that could affect responsible individual (RI) status and ownership tests.
4 January 2021: The joint UK and Ireland Regulations issued in January 2020 remain in effect for Irish audits. Following the end of the Brexit transition period, some changes to eligibility are due. These will take effect once the Irish government has issued the appropriate legislation.
This page presents an overview of instructions and guidance for small practices to prepare during the transition period following Brexit.
When the transition period ends on 31 December 2020, the UK will become what is known as a ‘third country’ by the EU. This means UK organisations or individuals cannot assume they can continue to process the personal data of EU data subjects in the same way as now.
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.
The transition period which followed the exit of the UK from the European Union ended on 31 December 2020.
Information for firms that undertake audits of Irish entities or that wish to apply for Irish audit registration.
This page presents an overview of instructions and guidance for small practices to prepare during the transition period following Brexit.
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.
Regulations and guidance for those working in the regulated area of audit in the UK, Ireland and the Crown Dependencies.
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.
The current regulatory framework for statutory audit underpins audit quality and ensures market integrity.
The recognition of professional qualifications is a significant issue which is being considered as part of the Brexit withdrawal negotiations as well as in the context of the future relationship between the UK and EU27. But it is important to place the issue in context.
Webinar presented by BEIS for businesses and professionals on new rules from January 2021 on providing services to EU customers, getting professional qualifications recognised, changes to audit and accountancy requirements, and changes to legal services.
A collection of country-by-country guides from the UK Government which include coverage of trade and services regulations; travel and entry requirements; and recognition of professional qualifications.