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Supporting audit quality

Guidance and support for auditors and practices on conducting audits, quality management, risk assessment and professional judgement, as well as information on regulation and standards.

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ICAEW Support

Practising Auditor Competency Framework

  • Helpsheets and support
  • 22 Oct 2024
Helping audit professionals understand what the competencies they should develop as they move towards becoming a responsible individual.
Use the framework

Latest developments in audit

Guidance and support from Audit and Beyond and the Audit and Assurance Faculty's technical news in brief.
Exclusive Q&A: March 2025
  • Helpsheets and support
  • 13 Mar 2025
ICAEW’s Technical Advisory Service offers answers to some topical questions.
Exclusive Audit and reporting updates: March 2025
  • Helpsheets and support
  • 13 Mar 2025
New ICAEW Code of Ethics, Virgin Media pension ruling, plus other technical and practical resources to support auditors
Exclusive Ethical considerations around data hosting
  • Article
  • 13 Mar 2025
All audit firms need to be aware of new provisions around ‘data hosting’ in the Revised Ethical Standard 2024. BDO’s Omid Tissier offers insights on key aspects and potential impacts.
Exclusive Communicating clearly in group audit engagements
  • Article
  • 13 Mar 2025
Effective two-way communication between the group and component auditors is key under ISA 600. Helen Pierpoint considers associated challenges and shares tips on communicating with non-native English-speakers.
Exclusive UK Audit Regulations and Guidance
  • Article
  • 13 Mar 2025
All audit firms are reminded of the April 2025 deadline for compliance with new provisions in the current Audit Regulations and the prospect of other changes during 2025.
Exclusive Advancing sustainability reporting and assurance
  • Article
  • 13 Mar 2025
Explore how new global standards for both assurance and ethics are advancing trust and transparency in sustainability reporting and assurance.
More

Webinar: Hot topics and tips for 2024 audits

Watch Peter Herbert's webinar aimed at helping small and medium sized audit firms get ready for the 2023/24 reporting season.

Find a webinar
ICAEW's Audit and Assurance Faculty can help you stay ahead of the curve with its essential guidance and technical advice.

Taking on audits

Guidance and support on the tasks to be completed before audits can be started.
Working in the regulated area of audit
  • Hub page
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.
Audit exemption
  • Hub page
Guidance on the exemption requirements for reporting periods beginning on and after 1 January 2016.
Appointment and engagement terms
  • Listing
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.
Engagement letter
  • Helpsheets and support
When an assurance engagement has been scoped out and both parties are ready to go ahead, an engagement letter is drawn up.
Exclusive Rotation of audit partners and staff
  • Helpsheets and support
Technical helpsheet issued to help ICAEW members to identify the requirements for rotation of audit partners and staff involved in audits within scope of the FRC Ethical Standard.
Anti-money laundering
  • Hub page
Guidance and other work that we have done on anti-money laundering law and practice, in the UK and internationally.

Planning audits

Practical resources covering key aspects of planning audits.
Audit Wales has audit delivery improvements in its sights
  • Article
  • 07 Apr 2025
With its Annual Plan, Audit Wales aims to bring the delivery of audit work closer to pre-pandemic timescales, noting it is ‘more important than ever’ to get value for money from public spending.
Exclusive Strengthening the three lines
  • Article
  • 21 Mar 2025
The 'three lines model' remains a cornerstone of effective organisational risk management. The first line responsibility for managing risk has to be at the heart of a strong risk management approach.
Exclusive Internal audit as a central driver of transformation success
  • Article
  • 19 Mar 2025
To remain competitive in today’s rapidly changing business landscape and regulatory environment many firms will pursue major transformation and cost reduction programmes.
Exclusive Integrating Regulatory Obligations within an Internal Audit Plan
  • Article
  • 02 Jan 2025
Companies face heightened expectations from a range of stakeholders. The risk landscape is increasingly complex. All organisations face external and unpredictable challenges, including geopolitical and cyber-security risks, as well as the unprecedented development of new technologies, including AI.
Free CPD: ISA 315
  • Article
  • 26 Nov 2024
What changed in the revised ISA 315 auditing standard and how have auditors found applying the revised standard in practice? This article provides free continuing professional development (CPD) verifiable reading and webinars on the topic.
Exclusive Practical pointers on auditing cash flow statements
  • Article
  • 14 Nov 2024
Regulators are sharpening their focus on the audit of cash flow statements. Hugh Morgan shares tips on some common areas of weakness and errors for auditors.
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Performing audits

Practical resources covering key aspects of conducting audits.
Auditing groups of companies
  • Hub page
Group financial statements present challenges to both group and component auditors.
SME audits
  • Listing
A range of practical resources to support small and medium practices (SMPs) with planning, performing and reviewing SME audits.
ISA 600 - what's changing
  • Webinar
This webinar will share some practical insights on how the ISA is changing and how it affects you.
Making sense of sampling and substantive analytical review
  • Webinar
Join us as we explore robust sampling and effective substantive analytical procedures in the context of revised ISA 315, and in light of the FRC’s recent thematic review of audit sampling.
Remote auditing in practice
  • Research guide
The spread of the coronavirus pandemic (COVID-19) resulted in the rapid adoption of remote working, including remote auditing techniques. This Audit and Assurance Faculty Know-How guide focuses on lessons learned from COVID-19 on the practicalities of audits conducted remotely.
Exclusive Strengthening the audit of cash flow statements
  • Article
All firms may find opportunities to enhance their audit of cash flow statements.
Considerations for remote inventory audit testing
  • Article
This guide from ICAEW's Audit and Assurance Faculty looks at considerations for auditors when performing remote inventory audit testing.
Auditing Accounting Estimates
  • Hub page
Access resources and support tools on auditing accounting estimates, covering auditors’ responsibilities under auditing standards and practical challenges.

Completing audits

Practical resources covering key aspects of completing audits.
Reporting and completion
  • Listing
Access practical resources on auditor reporting and completion to help understand auditors’ responsibilities in this area and the requirements of International Standards on Auditing (ISAs). These resources include practical guides and articles on audit reports, and other helpsheets to help deal with the challenges that may arise.
Importance of audit file assembly
  • Article
Inevitably updates and enhancements to International Standards on Auditing (such as ISA 315) and the implementation of ISQM1 have commanded much attention by firms over the last 12-18 months. However, it is important not to overlook long-standing requirements. Audit file assembly within ISA 230 is one example. We have identified some weaknesses in recent quality assurance monitoring visits and it is worth all firms reviewing their procedures to ensure they remain fit for purpose.
Producing an effective SME audit file
  • Course
This practical Essentials CPD session will highlight all the important do's and don'ts with a big focus on what file reviewers and QAD are looking for.
Understanding audit reports
  • Article
The FAQs below, created by ICAEW’s Audit and Assurance Faculty, are designed to help investors and other users of audit reports to better understand the different types of audit report wordings used by auditors, and their significance. They also highlight how economic uncertainty resulting from wider external factors can impact audit reports.
An introduction to using electronic signatures to sign an audit report
  • Helpsheets and support
Many auditors are working from home during the COVID-19 lockdown, and this presents logistical challenges for the signing of the auditor’s reports on financial statements.
How to report on irregularities, including fraud, in the auditor’s report – a guide for auditors
  • Helpsheets and support
This Know-How guide from ICAEW’s Audit and Assurance Faculty covers what irregularities are, how the requirements have changed in ISA (UK) 700 (Revised January 2020), what should be reported on in the auditor’s report, and how COVID-19 may impact what is reported.
How to report on irregularities, including fraud, in the auditor’s report - Guide for auditors reporting for the first time
  • Helpsheets and support
For periods commencing on or after 15 December 2019, all auditors (where ISAs (UK) apply) are required to explain in the auditor’s report the extent to which the audit was considered capable of detecting irregularities, including fraud. This guide from ICAEW’s Audit and Assurance Faculty provides practical considerations for auditors who are required to report on irregularities, including fraud, for the first time.
Driving more informative auditor resignation statements
  • Helpsheets and support
Are auditors providing meaningful information in their resignation statements, and if not, why not? This article looks at the requirements and what stakeholders have been saying.

Guides on preparing audit reports

ICAEW has produced guides on preparing audit reports for certain specific situations. They cover the main changes needed to the examples in the FRC’s Compendium of illustrative auditor’s reports and to comply with standards.

Browse guides
The Audit and Assurance Faculty have produced a number of guides designed to help firms to prepare their audit reports for certain specific situations.

Quality management

Resources to help prepare for new quality management standards ISQM 1, ISQM 2 and ISA 220 (Revised).

Quality management in audit firms
  • Hub page
Resources to help firms sustain the momentum on quality management standards ISQM 1, ISQM 2 and ISA 220.
Overview of standards
  • Helpsheets and support
Key changes, effective date and overview of the Quality Management Standards.
Getting started with ISQM 1
  • Helpsheets and support
Steps firms can take now on their quality management journey.
Exclusive ISQM 1: maximising the benefits
  • Article
What are the lessons learned from the first year of ISQM 1? Andrew Jarvis shares insights into practical challenges and practical solutions.
Exclusive Maintaining ISQM 1 momentum
  • Article
Enhance your firm’s system of quality management with insights and learnings from fellow auditors, QAD and specialist service providers.
ISQM, preparing and filing accounts, and public practice
  • Podcast
In this episode, we discuss how firms can maintain momentum on the International Standard of Quality Management.
ISQM resources for small practices
  • Listing
The deadline for ISQM1 is approaching next month. Find dedicated resources for sole practitioners and small practices.
Improving audit quality using root cause analysis
  • Helpsheets and support
With external audits under unprecedented levels of scrutiny, root cause analysis (RCA) can be a useful tool for those tasked with improving audit quality. The Audit and Assurance Faculty has published this practical paper for its members outlining what RCA is and what auditors need to consider to make the most of this useful tool.

Professionalism in audit

Professional judgement
  • Hub page
ICAEW brings together a range of resources on professional judgement to help you develop your skills in approaching difficult judgements.
Professional scepticism
  • Listing
These resources are intended to help auditors in applying and demonstrating a sceptical mind set in their audits.
Scepticism: the practitioners' take
  • Thought leadership report
Professional scepticism is central to the work of auditors and yet audit regulators and others continue to express concerns that auditors are not sufficiently sceptical. This report explores what auditors and other stakeholders think about how it can be enhanced and who is responsible for it.
Forensics in audit
  • Webinar
This webinar will help you to better understand the increasing use of forensic auditors and forensic techniques in mainstream audit and the work of forensic specialists more widely.
Ethics
  • Hub page
Ethical behaviour plays a vital role in ensuring public trust in financial reporting and business practices and upholding the reputation of the accountancy profession. ICAEW members are expected to demonstrate the highest standards of professional conduct and take into consideration the public interest.
Exclusive What makes a good audit manager
  • Webinar
This webinar will focus on the technical, people and project management skills needed to succeed in the role and use real life examples to identify practical solutions to help improve the quality and efficiency of the audits you manage.
Being an effective audit manager
  • Course
This Essentials CPD course focuses on the technical, people and project management skills needed to succeed as an audit manager. Improve the quality and efficiency of the audits you manage.
Best practice and hot topics for RIs
  • Course
This Essentials CPD course will explore all important things Responsible Individuals must do on an audit to comply with regulatory requirements, balance commercial considerations and recover costs.
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Standards and regulations

 
Where next for audit and governance reform?
  • Podcast
In this Insights In Focus episode, we discuss the future of audit and corporate governance reform.
Audit Regulations and Guidance
  • Listing
Regulations and guidance for those working in the regulated area of audit in the UK, Ireland and the Crown Dependencies.
Less complex entity audits
  • Event
IAASB has issued a draft proposal for a new auditing standard for less complex entities (LCEs). While based on the concepts and principles of the International Standards of Auditing (ISAs), it would follow a simplified, risk-based approach. Join Tom Seidenstein, IAASB Chair, as he discusses the proposals, including their background and development.
ISQM 1 and 2 lessons learned from monitoring
  • Course
An Essentials CPD focussing on the lessons learned from the implementation of the standards in 2022 and the subsequent monitoring and remediation work in 2023.
Revised ISA 600 group audits
  • Course
This Essentials CPD course looks at the requirements of this revised ISA, together with looking at the challenges for auditors of auditing groups.
ICAEW ISAs programmes
  • Promotional material
The ICAEW ISAs online learning and assessment programme is your route to a better understanding of the ISAs and the audit process.
Exclusive Implementing International Standards on Auditing
  • Listing
ICAEW has created a series of practical guides to support auditors in implementing the IAASB’s international standards on auditing. The guides focus on key challenges in implementing ISAs and how to overcome them.
Standards and guidance
  • Listing
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.
More
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Support

Audit and corporate governance reform

At a Business and Trade Committee session in March 2024, ICAEW re-emphasised the need to maintain progress with balanced reform, including legislation to establish ARGA. ICAEW’s Audit and Assurance Faculty unpacks the key issues.
See resources

Technology and audit

Digital technologies are helping audit to evolve in a data-heavy, fast-moving corporate world. Find out about the analytical and artificial intelligence tools enabling auditors to be more collaborative and provide greater insights in real time.

Exclusive Ethical considerations around data hosting
  • Article
  • 13 Mar 2025
All audit firms need to be aware of new provisions around ‘data hosting’ in the Revised Ethical Standard 2024. BDO’s Omid Tissier offers insights on key aspects and potential impacts.
Exclusive Efficient pensions audits for trustees – common information requests
  • Article
  • 13 Mar 2025
Understanding more about common requests for information can make them easier for pension scheme trustees to deal with. Helen Pierpoint and Amelia Pickard share some insights.
Data analytics for auditors: five essentials
  • Article
  • 07 Mar 2025
Data analytics is often overlooked in favour of flashier technologies, but it is a critical skill set for the modern auditor.
How AI can improve sustainability assurance
  • Article
  • 05 Mar 2025
Case study: ekointelligence is a generative AI tool, developed in part by chartered accountants, that can digest and review all environmental statements published by an organisation.
2025: a pivotal year for growth, skills and trust
  • Article
  • 06 Jan 2025
The world leaves 2024 in a very different political and economical state than it started in. Accountants have a critical role to play in navigating this landscape, but they must embrace change, says ICAEW CEO Alan Vallance.
Exclusive Unpicking the three lines
  • Article
  • 02 Jan 2025
What does Three Lines mean to you? I would imagine it’s a concept that most who work within, or are involved with, internal audit understand well.
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Other resources

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Audit and assurance helpsheets
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Resources

Webinar recordings

Recordings of recent webinars providing practical guidance on audit and assurance related issues.
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Support

Technical helpsheets

ICAEW’s Technical Advisory Services helpsheets reflect the practical guidance provided to our members every day on the helplines. You can see all the audit and assurance helpsheets in one place.
Browse helpsheets
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All audit resources

Browse information and guidance on completing all stages of an audit and understanding whether an audit is required. Access technical help, webinars, publications and events.
See all resources
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Audit and Beyond

Audit & Beyond provides topical features and opinion pieces on audit and assurance, plus all the latest news and developments.

Read more See the archive
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Audit and assurance courses

Browse the range of ICAEW's CPD courses on audit and assurance, covering accounting estimates, becoming an audit responsible individual and ISAs.

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