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Audit requirements in the Crown Dependencies

Audit arrangements in the Crown Dependencies of Jersey, Guernsey and the Isle of Man

From 5 April 2010, revised arrangements apply to firms that audit companies incorporated in one of the Crown Dependencies that have 'transferable securities' admitted to trading on a 'regulated market' in the EU. The arrangements apply even if the firm or company is not operating in a Crown Dependency.

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Audit arrangements in the Crown Dependencies of Jersey, Guernsey and the Isle of Man note.

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ICAEW, in conjunction with the Crown Dependencies, has produced a note on these arrangements. This describes the audit arrangements that already exist for companies incorporated in the Crown Dependencies and the arrangements for those who audit 'listed' companies.

Audit rules

These arrangements include a common set of audit rules for firms in the Crown Dependencies that audit these companies. They are based on ICAEW’s audit regulations. You can also view a note of the changes to the original rules.

Initial return

New firms registering under these arrangements are asked to complete an initial return.

Fee scale

Each Crown Dependency sets initial and annual fees for registration as a recognised auditor and these fees can be viewed as follows:

ICAEW also has a fee scale, which includes charges for Audit Quality Review and the Financial Reporting Council.