Audit by ISA
ISA 315 (Revised)
Identifying and Assessing the Risks of Material Misstatement Through Understanding of the Entity and Its Environment (ISA 315 (Revised)), introduces major changes in approach to risk identification and assessment, which are intended to drive a more focused response from auditors to identified risks.
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ISQM 1, ISQM 2 and ISA 220 (Revised)
Resources to help audit firms implement quality management standards ISQM 1, ISQM 2 and ISA 220 (Revised).
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ISA 540 (Revised) and ISA (UK) 540 (Revised)
Auditing accounting estimates and related disclosures (ISA 540 (Revised)), introduces robust requirements, particularly geared towards addressing the audit of complex estimates.
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ISA 600
Practical guidance, commentary and information on auditing groups of companies under ISA 600, including tools and support materials to help both group and component auditors.
ViewAudit lifecycle
Working in the regulated area of audit
Firms working in the regulated area of audit are required to comply with the Audit Regulations and guidance. On this page, you'll find links to advice and guidance to help your firm remain compliant.
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Audit exemption
FRS 102 is the principal accounting standard in the UK financial reporting regime. It sets out the requirements for entities that are not applying adopted IFRS, FRS 101 or FRS 105.
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Appointment
FRS 105 is the UK accounting standard for entities eligible for, and who choose to apply, the micro-entities regime.
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Engagement letters
Guidance and UK standards, including SORPs, covering a variety of business and industry sectors.
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Electronic signatures
As many auditors continue to work remotely, this may present logistical challenges for signing the auditor’s report.
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Auditor resignation
Help you understand your responsibilities when resigning from an engagement and how to ensure informative auditor resignation statements.
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Audit reports
Understand how to prepare an audit report for an array of different circumstances, sectors and legislation.”
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Anti-money laundering
Guidance and resources to help members comply with their legal and professional responsibilities.
ViewTopical issues
ICAEW acting on audit quality
Audit and corporate governance reform
Audit by subject area
Climate
Keep up to date with developments around climate, ESG and sustainability reporting and assurance.
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Revenue
Although the ISA (UK) requirements for auditing revenue have been largely unchanged, this remains a critical area of focus for most audits.
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Going Concern
Recent events have put a spotlight on the going concern assumption. Ensure you are up to date with this guidance.
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Inventory
Guidance from ICAEW's Audit and Assurance Faculty looking at considerations for auditors when performing inventory audit testing.
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Inflation
Rising inflation presents a challenge to management and auditors alike. You need to understand the impacts.
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Sector specific assurance
Public sector
Read the latest insights on audit & assurance in the public sector from ICAEW. Find out about ICAEW’s role in licensing, registering and monitoring local auditors - and how to register. Download ICAEW’s technical framework for reporting on grant claims and get help from ICAEW in commissioning independent reports on recipient eligibility.
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Charities
View articles, resources and guidance relating to audit and independent examination within the charity and voluntary sectors.
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Aviation/ATOL
In order for ATOL holders to renew their ATOL licence, they must submit financial and non-financial information to the Civil Aviation Authority (CAA) and engage an ATOL Reporting Accountant (ARA) to report on certain aspects of this information.
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Housing
Preparing an audit report for English, Scottish and Welsh registered providers of social housing/registered social landlord - registered under the cooperative and community benefit societies act 2014.
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Shaping sustainability standard setting
In this thought leadership report, ICAEW’s Corporate Reporting Faculty analyses the key features of accounting standard setting and considers the challenges faced by sustainability standard-setters.
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