Audit Regulations and Guidance

Regulations and guidance for those working in the regulated area of audit in the UK, Ireland and the Crown Dependencies.

UK Audit Regulations and Guidance

UK firms registered for audit with ICAEW are required to comply with the Audit Regulations and Guidance.

Access the current UK Audit Regulations and Guidance (effective January 2021)

An updated set of UK Audit Regulations will be issued on 5 December 2022. These will replace the set issued in January 2021. The updated set of regulations will primarily take account of the new registration arrangements with the FRC for firms that audit PIE entities. The period for dispensations and the criteria required to determine control for audit firm ownership tests will also be clarified.

The regulations will be published as soon as they have been approved by all three of the institutes (ICAEW, ICAS, ICAI) that share the regulations. Meanwhile a draft set of the new regulations and a schedule of amendments will be shared in early November with audit compliance officers in readiness for implementation as these regulations have immediate effect on 5 December.

Irish Audit Regulations

ICAEW has revoked its Recognised Accountancy Body (RAB) status in Ireland.
Chartered Accountants Ireland has recently issued new stand-alone Audit Regulations for Ireland. The Audit Regulations Ireland replace the Audit Regulations and Guidance (effective 1 January 2020) and the addendum effective 22 December 2021.

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

Special 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.

Access the requirements

Support for ICAEW audit regulated firms

Practical audit support and guidance is available to ICAEW auditors including the latest regulatory updates, webcasts and monitoring reports.

PCAOB for non-US audit firms

Issues for audit firms outside the US that audit entities with a primary or secondary listing in the US, or a significant subsidiary thereof, and need to register with the PCAOB.