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Audit & Assurance Faculty

Find out more about the Audit and Assurance Faculty and upcoming events. Faculty members can access exclusive content, including technical updates, guidance, publications, webinars and representations.

In this section

Audit and Beyond

Technical updates

Technical updates December 2018

The Audit and Assurance Faculty roundup of new and updated legal and regulatory changes and guidance.

Technical updates November 2018

The Audit and Assurance Faculty roundup of new and updated legal and regulatory changes and guidance.

Webinar recordings

Future events and webinars

Technical releases

Latest guidance and publications

How to audit the cloud

Cloud computing is transforming business IT services, increasing its operational efficiencies and reducing its costs. But the use of cloud computing services also poses significant risks that need to be planned for by audit committees, boards and management if they are to be handled effectively.

Auditing estimates

Access resources on auditing accounting estimates to help you understand your responsibilities and deal with practical challenges. You’ll find information to help you to prepare for changes in requirements, in the light of IAASB’s revision of ISA 540.

Introducing ISA 540 (Revised) on auditing estimates

The IAASB has issued ISA 540 (Revised) Auditing accounting estimates and related disclosures and the FRC in the UK is expected to follow suit, with ISA (UK) 540 (Revised July 2018) currently out for exposure. There are some changes and new requirements in ISA 540 (Revised) that are likely to prove more challenging for auditors to implement.

Assurance mapping

Assurance maps can be a powerful tool providing great insights for boards, senior management and audit committees. Here the Audit and Assurance Faculty explores the concept of assurance maps and the benefits to various stakeholders.

Scepticism: the practitioners' take

Professional scepticism is central to the work of auditors and yet audit regulators and others continue to express concerns that auditors are not sufficiently sceptical. This report explores what auditors and other stakeholders think about how it can be enhanced and who is responsible for it.

How do you audit a robot?

Guidance for internal auditors on providing assurance over robotic process automation (RPA). The ICAEW’s Internal Audit Panel outline the key risks for organisations in implementing RPA and how internal audit can mitigate these risks. ICAEW members can download more detailed guidance.

Implementing ISAs (UK)

Communication with those charged with governance in an ISA (UK) audit

This guide outlines the requirements on communicating with those charged with governance in an ISA audit. The guide answers common questions from auditors on meeting these requirements, including: how to apply them to smaller entities and how to decide which deficiencies are significant. This guidance is particularly important for auditors applying ISA 260 (Revised) and ISA 265.

Addressing the risk of management override in an ISA (UK) audit

The term “management override” refers to the ability of management and/or those charged with governance to manipulate accounting records and prepare fraudulent financial statements by overriding these controls, even where the controls might otherwise appear to be operating effectively. This guide looks at how auditors assess the risk of management override and their response to it.

Audit and assurance representations


ICAEW welcomes the opportunity to comment on the Proposed International Standard on Related Services 4400 (Revised) Agreed-Upon Procedures Engagements published by the International Auditing and Assurance Standards Board on 15 November 2018


ICAEW welcomes the opportunity to comment on the Post Implementation Review Providing Assurance on Client Assets to the FCA – Call for Feedback published by Financial Reporting Council on 6 December 2018.


ICAEW welcomes the opportunity to comment on the Post Implementation Review - 2016 Ethical and Auditing Standards - Call for Feedback published by the Financial Reporting Council in November 2018

ICAEW Rep 13/19

ICAEW welcomes the opportunity to comment on the Statutory audit services market study update paper published by the Competition and Markets Authority on 18 December 2018.

ICAEW Rep 07/19

ICAEW welcomes the opportunity to provide written evidence to the Business, Energy and Industrial Strategy Committee in response to the specific questions set out in the terms of reference for its inquiry into the Future of Audit, announced on 18 November 2018.


ICAEW welcomes the opportunity to comment on the Financial Instruments with Characteristics of Equity consultation paper published by IASB in June 2018.

Thought leadership

Audit Quality Forum (AQF)

Initiatives taken around audit quality in 2018 and onwards have a long history, and are embedded in the work of the AQF.  Most recently, the AQF has been looking at how auditors can help to improve confidence in business under the banner of ‘Helping business get it right’.

Audit insights

Auditors bringing their knowledge of market sectors and business issues for the benefit of wider stakeholders, and alerting practitioners to some of the issues they should consider when planning their audits.


ICAEW's AuditFutures initiative engages important stakeholders in a positive debate about the evolving role of audit in society. Our goal is to develop new thinking, to inspire innovation in audit and to ensure the profession is best placed to meet key public interest commitments and obligations.