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Brexit and the accountancy profession

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.

Need to know

Professional recognition after Brexit: a step back but a clear way forward

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.

Practice guidance and support

Data protection and 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.

Audit regulation

Irish third country draft registration application

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.

Professional qualifications

External resources