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Audit News

Audit News is your regulatory update containing the latest audit and assurance technical guidance and best practice advice. We email audit compliance principals and responsible individuals when a new issue of Audit News is available. Audit News is also available to all ICAEW members – please select the Audit and Assurance topic from your list of preferences and we will notify you by email when a new issue is available.

Audit News 63, October 2018

In this issue read more about:

  • The Brexit effect
  • Ireland audit and accounting standards
  • The effect of the introduction of the Ireland Companies Act 2018
  • New guidance on deed transactions including dividend waivers
  • Crown Dependencies Audit Rules – new consultation now open
  • Changes to ICAEW’s PII Regulations and minimum approved wording effective 1 October 2018
  • New guidance on taking out insurance – issued by the PII Committee
  • New Practice Assurance webinar
  • New helpsheets - going concern in the audit report

Audit News 62, June 2018

In this issue read more about:

  • Audit Registration Committee reminder
    • Group audit considerations
  • Audit updates
    • Changes to annual return in respect of Irish audits Reporting to the Regulator - ISA (UK) 250 - Section B - Paragraph 13R-1 (ii)   
    • Applications for responsible individual status 
    • The auditor's responsibility to report to a charity's regulator
    • Audit Monitoring 2018 is now available
  • Disciplinary process changes
    • Revised Guidance on Sanctions effective 1 July 2018
    • Fixed penalty process to be introduced from 1 July 2018 for minor complaints
    • Changes to streamline the disciplinary and fitness processes
  • New resources
    • ICAEW’s second training film is now available
    • New substantive audit evidence webinars
    • Guidance for auditing culture
    • New Practice Assurance resources
    • 'Bannerman paragraph’ update
    • The ICAEW privacy policy has been updated

Audit News 61, December 2017

In this issue read more about:

  • Charity audits – changes to the matters to be reported to the Charity Regulator
  • Feedback from the Audit Registration Committee – FRS 102
  • Reporting to the Regulator - ISA (UK) 250 - Section B - Paragraph 13R-1 (ii)
  • iXBRL
  • False Assurance: How would you act?
  • New resources: audit report helpsheets

Audit News 60, July 2017

In this issue read more about:

  • Undertakings given to ICAEW
  • The latest feedback from audit monitoring reviews in Audit Essentials 2017
  • Audit monitoring support webinars
  • New criteria for Use of Description Regulations’ dispensations
  • PII Regulations: Applicants to receive a right of review
  • Materiality in the audit of financial statements
  • Audit insights: charities – Positive impacts in challenging times
  • Audit and Assurance Faculty Autumn Roadshows: case studies and examples in hot audit areas

Audit News 59, March 2017

In this issue read more about:

  • The new Audit Regulations
  • Auditing framework for Ireland  
  • Payment of 2017 audit fees      
  • Irish insurance brokers – filing requirements        
  • Improving audit quality using root cause analysis      

Audit News 58, November 2016

In this issue read more about:

  • International Education Standard 8
  • FRC monitoring of PIE auditors (article written by the AQR team at the Financial Reporting Council)
  • Timing of monitoring visits under the new ARD regime – what to expect?
  • Clients’ Money Regulations – introduction of clients’ money regulation 8A
  • The future of non-audit assurance
  • Audit and Assurance Faculty Autumn Roadshow: 2016 and beyond: future audit challenges and opportunities.

Audit News 57, June 2016

In this issue read more about:

  • Changes to the Audit Regulations – effective 17 June 2016
  • EU audit regulatory reform update: close to a landing
  • New responsible individual application form – effective 1 July 2016
  • Audit Reform implementation
  • Prepare for your firm’s next audit monitoring visit with our latest monitoring report, Audit Essentials 2016. Access the latest guidance based on recent audit monitoring reviews.
  • ATOL reporting
  • Where next with assurance?

Audit News 56, March 2016

In this issue read more about:

  • Reports under the Solicitors Regulation Authority (SRA) Accounts Rules
  • Consultation on guidance on aspects of ICAEW’s Code of Ethics
  • EU audit regulatory reform: where are we?
  • International Education Standard 8
  • Auditor insights into the retail and insurance sectors

Audit News 55, November 2015

In this issue read more about:

  • Audit Essentials 2015 – a report focusing on two themes central to good auditing: setting the right audit strategy and doing a ‘thinking audit’;
  • applying to become an ATOL Reporting Accountant;
  • International Education Standard 8;
  • audit-related CPD;
  • referring to QAD monitoring visits in transparency reports;
  • the transition to FRS 102;
  • advice from the FRC on signing Co-operative and Community Benefit Societies audit reports.

Audit News 54, May 2015

In this issue read more about

  • Reminders from the Audit Registration Committee – annual compliance review and notification of major audit appointments
  • Support with your audit CPD 
  • Audit arrangements for the Crown Dependencies 
  • ICAEW is seeking candidates to join the new ICAEW Regulatory Board 
  • Develop the next generation of audit talent

Audit News 53, November 2013

Audit News 52, November 2012

Audit News 51, June 2012

Audit News 50, December 2011