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Audit and assurance

View a range of practical resources on auditing and assurance, arranged by theme, including ISA specific guidance, subject area and sector specific assurance.
Sole practice auditor alternates

Under the revised 2025 Audit Regulations all sole practice auditors were required to appoint an alternate by 1 December 2025.

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Audit by ISA

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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.

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The International Standards on Auditing (ISAs) are professional standards for the auditing of financial information, issued by the International Auditing and Assurance Standards Board (IAASB). In the UK, the Financial Reporting Council (FRC) issues and maintains auditing standards for engagements that are performed in the public interest within the United Kingdom (ISA’s (UK)). Content produced by the Faculty is subdivided by ISA above.

Audit lifecycle

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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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Economic crime
Anti-money laundering

Guidance and resources to help members comply with their legal and professional responsibilities.

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Topical issues

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Tech and audit

Analytics in external audit: current practice and trends

Explore how audit firms are using data analytics, the barriers slowing wider adoption, and the practical steps firms, vendors, methodology providers and regulators can take to support more effective, technology-enabled audits.
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New practical guide for buyers of sustainability assurance

The updated guide, developed by ICAEW and the WBCSD, supports organisations through the full sustainability assurance journey and includes practical tools and insights.
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ICAEW acting on audit quality

  • Hub page
  • 19 Mar 2024
Organisations, stakeholders and the public rely upon the quality of audits. Find out how ICAEW is working to support our members and the wider audit sector in implementing best practice and ensuring the quality of audits.
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Resources from across ICAEW to help members meet their CPD requirements

Audit and corporate governance reform

  • Listing
  • 28 Nov 2023
Find out more about the UK government’s proposed reforms to audit and corporate reporting, intended to restore trust in governance, reporting, and auditing.
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Front cover of the Audit Monitoring report 2026

ICAEW Audit Monitoring Report

Access ICAEW’s latest Audit Monitoring Report for a look at the results from last year’s quality assurance monitoring reviews. The report highlights examples of best practice and common audit weaknesses. It is an ideal resource for insights into regulatory requirements in practice.
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Audit by subject area

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Climate

Keep up to date with developments around climate, ESG and sustainability reporting and assurance.

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Bitcoin
Digital assets

Discover the latest guidance on auditing digital assets.

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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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Pensions

Auditing pensions figures within the accounts can require specialist knowledge.

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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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Ukraine

Audit guidance in response to the Ukraine crisis.

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Sector specific assurance

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Gambling Commission

ICAEW has produced guidance to assist auditors who are engaged to report on the proceeds of lotteries under the Gambling Commission’s Licence Conditions and Codes of Practice (LCCP).

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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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