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Audit and Assurance Faculty guides

Audit and Assurance Faculty Guides and Technical Advisory Services helpsheets prepared by ICAEW technical specialists to assist you in your day-to-day work. We offer practical advice, respond to frequently asked questions and highlight the issues you may need to consider. Audit and Assurance Faculty Guides were formerly known as 'Helpsheets'.

Limitation on the scope of the audit

02-2019

This guide is designed to explain the main changes that are needed to the audit report when an auditor considers it necessary to issue a modified opinion on the financial statements due to a limitation on the scope of the audit.

Preparing an adverse opinion audit report

02-2019

This guide is designed to explain the main changes that are needed to the audit report when an auditor considers it necessary to issue an adverse opinion on the financial statements due to a material and pervasive misstatement in the financial statements. This assumes that aside from the matter giving rise to the adverse opinion, the auditor has obtained all other necessary evidence to support the opinion.

Preparing an audit report for a society registered under the co-operative and Community Benefits Societies Act 2014

11-2018

This guide is designed to explain the main changes that are needed to the audit report of a society registered under the Co-operative and Community Benefit Societies Act 2014 that does not prepare group financial statements, compared to that of a company. It does not seek to explain every difference, just the key areas to consider as a result of the differing legal and regulatory requirements.

Preparing an audit report for English and Scottish registered providers of social housing/registered social landlords - registered under The Companies Act 2006

06-2018

This guide is designed to explain the main changes that are needed to the audit report of a company that is an English Registered Provider of Social Housing (RP) or Scottish Registered Social Landlord (RSL) that does not prepare group financial statements, compared to that of a company. It does not seek to explain every difference, just the key areas to consider as a result of the differing legal and regulatory requirements.

Preparing a qualified audit report - disagreement (related parties example)

06-2018

This guide is designed to explain the main changes that are needed to the audit report when an auditor considers it necessary to issue a modified opinion on the financial statements due to a material misstatement in the financial statements. The example chosen to illustrate the amendments needed to a modified opinion is where there is a material deficiency in the information relating to related party transactions that is required to be disclosed by the financial reporting framework

Preparing an audit report for English Registered providers of social housing - registered under The Charities Act 2011

06-2018

This guide is designed to explain the main changes that are needed to the audit report of a charity that is an English Registered Provider of Social Housing Landlord (RP) that does not prepare group financial statements, compared to that of a company. It does not seek to explain every difference, just the key areas to consider as a result of the differing legal and regulatory requirements.

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

06-2018

This guide is designed to explain the main changes that are needed to the audit report of an English Registered Provider of Social Housing (RP) or a Scottish or Welsh Registered Social Landlord (RSL) registered under the Co-operative and Community Benefit Societies Act 2014 that does not prepare group financial statements, compared to that of a company. It does not seek to explain every difference, just the key areas to consider as a result of the differing legal and regulatory requirements.

Preparing an audit report with a disclaimer of opinion

09-2018

This guide is designed to explain the main changes that are needed to the audit report when an auditor considers it necessary to disclaim the opinion on the financial statements as a whole. The example wording in this guide has been adapted from the examples in the Appendix to ISA (UK) 705 and updated for UK legal and regulatory requirements.

Preparing an audit report for micro entities

11-2018

This guide is designed to explain the main changes that are needed to the audit report of a company preparing its financial statements under the micro-entities regime compared to that of a company preparing its financial statements under FRS 102.

Audit report on defective financial statements

10-2018

This guide is designed to explain the main changes that are needed to produce an audit report on a set of defective financial statements prepared in accordance with regulations under the Companies Act 2006. It seeks to explain the differences in the audit report compared to the audit report issued on the original (defective) financial statements.

Preparing a non-statutory audit report

09-2017

This guide is designed to explain the main changes that are needed to be made to the company examples in the FRC’s Compendium of illustrative auditor’s reports. This guide applies to opinions issued in accordance with ISAs (UK) for entities other than companies where there is no statutory or regulatory requirement for an audit to be undertaken.

Preparing an audit report for Limited Partnerships

09-2017

This guide is designed to explain the main changes that are needed to the audit report of a limited partnership (LP) formed under the Limited Partnerships Act 1907, which is not a Qualifying Partnership and that does not prepare group financial statements, compared to that of a company. It does not seek to explain every difference, just the key areas to consider as a result of the differing legal and regulatory requirements.

Preparing an audit report for Qualifying Partnerships

09-2018

This guide is designed to explain the main changes that are needed to the audit report of a pension scheme compared to that of a company. is designed to explain the main changes that are needed to the audit report of a limited partnership which is a qualifying partnership (QP), and that does not prepare group financial statements, compared to that of a company.

Preparing an audit report for a charity

09-2017

This guide is designed to explain the main changes that are needed to the audit report of a charity that does not prepare group financial statements.