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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.

These new regulations 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 is also clarified.

Please note these regulations take immediate effect on 5 December 2022 and supersede the UK Audit Regulations and Guidance (effective January 2021).

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.

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.

Audit Regulations and Guidance archive