The audit, assurance and internal audit area has information and guidance on technical and practical matters in relation to these three areas of practice. There are links to events, publications, technical help and audit representations.
Guidance on the exemption requirements for reporting periods beginning on and after 1 January 2016.
Access practical resources on client acceptance, auditor appointment and agreeing engagement terms to help understand auditors’ responsibilities and the requirements of International Standards on Auditing (ISAs), in particular, ISA 210. These resources include practical support to help auditors deal with the challenges that may arise.
Key requirements and practical support for auditors to help them understand and deal with challenges.
Access practical resources on key areas of the audit to help understand auditors’ responsibilities and the requirements of International Standards on Auditing (ISAs) and support audit quality. These resources include practical support to help auditors deal with the challenges that may arise.
Find out more on: what assurance means, what can trigger the need for assurance, what an assurance engagement is and what assurance mapping is.
Information on the variety of assurance options open to organisations - from those exempt from mandatory audit requirements to those seeking assurance on non-financial business information.
Assurance engagements can be typically broken up into nine stages. Not all stages will be clearly separated and identifiable in every engagement. Some stages, such as the engagement letter, may not be required during internal assurance, while others, such as problem-solving phase, may not be necessary in some external engagements.
Guidance on the performance of assurance engagements on governance control activities established by trustees of Master Trusts.
A comprehensive list of standards and guidance covering external assurance engagements. Find out which standards apply for engagements by subject area, as well as information on individual standards and the practical application of guidance to assurance engagements.
ICAEW’s Internal Audit Panel has identified eight risk areas where boards and audit committees should be asking themselves whether they are receiving the objective assurance they need amid increased public scrutiny.
Change is a feature of doing business, but managing it successfully can be complex. This guide outlines how internal audit can help project managers implement changes by adopting good practices throughout the project life cycle.
This guide considers seven challenges commonly faced by smaller internal audit functions and provides recommendations to help heads of internal audit establish and grow an effective function that can meet its priorities.
Cloud computing is transforming business IT services, but it also poses significant risks that need to be planned for. This practical guide for internal audits outlines how they should assess risk management.
Firms working in the regulated area of audit are required to comply with the audit regulations and guidance.
ICAEW is now responsible for the licensing, registering and monitoring of auditors who wish to carry out audits of local public bodies. This page explains what accountancy firms and individuals need to do to become a registered local auditor under the Local Audit and Accountability Act 2014.
To gain audit rights, you need to hold an audit qualification such as the ICAEW Audit Qualification.
Auditor Limited Liability Agreements (LLA) are contracts designed to ensure that auditors are not pursued for excessive losses, just a reasonable proportion based on their responsibility.
Find out what is licensed work and how your firm can become a licensed practice.
Information for firms that undertake audits of Irish entities.
This overview explains in simple terms who does what in the financial reporting system for UK companies with full main market listings.
With calls for better engagement between auditors and users, we recommend the application of a three ‘pillar’ model of what we call ‘User-Driven Assurance;’ a new way of thinking about assurance, directed in its first phase by the needs of the primary user – the shareholders.
Governments and regulators are considering whether to mandate shared or joint audits in an attempt to increase audit quality, competition and choice.
Reporting on the effectiveness of controls over financial reporting features prominently in the current reviews of UK audit and regulation. This essay explores the current position in the UK, compares it with what happens in the USA and elsewhere in the world, and sets out the case for change and potential options.
Recent corporate failures have increased public concern about the value of audit and the role of auditors. To help inform debate on the scope of audit, this second supporting paper to our Future of Audit thought leadership essays explains what auditors do, why audits are necessary, the limitations of audit, and what gets audited and what doesn’t.
14 May 2020: The Charity Commission has confirmed that it will be conducting an ongoing review of the reporting of matters of material significance by auditors and independent examiners.
A leading Dutch academic has criticised the way auditors are being treated by politicians and the media
PwC, for so long the undisputed leader of FTSE 100 audits, loses out in the audit reshuffle and now ties with Deloitte and KPMG
Auditors are an important piece in the jigsaw of investor protection, according to Gareth Rees