ICAEW.com works better with JavaScript enabled.

Audit News February 2019

Welcome to Audit News 64, your regulatory update containing the latest technical guidance and best practice advice.

Brexit: UK guidance for auditors

Issued by BEIS and the FRC on 22 February 2019

BEIS and the FRC have issued five documents that set out the necessary steps all audit firms (large and small) should undertake to prepare for Brexit including no-deal outcomes.
These are available on the FRC website and include;

  • Guidance on auditor registration
  • A supporting decision tree
  • Briefing on third country registration
  • Guidance on accounting treatment
  • Guidance on applications of International Accounting Standards (IAS)

Audit compliance principals and all firm audit recognised individuals should be made aware of this guidance and take the necessary steps to ensure continuity of service for clients. Further commentary is available on our guidance page on Brexit for auditors.

Useful links

New resources

Core Accounting and Tax Service for eligible firms
Free access to Bloomsbury’s online catalogue of over 60 titles 

Upcoming webinars

Audit related Brexit issues – 11.3.19
ICAEW’s audit-related Brexit Guidance is intended to help auditors of SMEs deal with current Brexit-related uncertainties associated with a potential no-deal exit as they affect 31 December 2018 and 31 March 2019 audits.

What’s new in Quality Management – 29.4.19
The webinar covers what’s changing in quality management and what you need to do about it.