How to report on irregularities, including fraud, in the auditor’s report - Guide for auditors reporting for the first time

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.

Auditing - Key topics

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Technical helpsheet highlighting important areas affecting auditing in challenging times.

How to report an emphasis of matter under COVID-19: a guide for auditors

An auditor may conclude that a matter disclosed in the financial statements is so important that it is fundamental to users’ understanding of those financial statements. In this case an emphasis of matter paragraph will be included in the auditor’s report, which draws the reader’s attention to the entity’s disclosures.

Duty to report to the charity regulator(s)

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Technical helpsheet issued to highlight the circumstances in which charity independent examiners, auditors and trustees have a duty to report to the charity regulator(s).

Preparing an audit report for a group - combined audit report for the group and parent company

This guide is designed to explain the main changes that are needed to the audit report of a group compared to that of a company only.

Audit reports - going concern

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Technical helpsheet issued to help ICAEW members understand the International Standards on Auditing (UK) (ISAs (UK)) requirements in relation to going concern and the impact the various different situations have on the auditor’s report.

Audit reports – modified opinions, emphasis of matter and other matter paragraphs

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Technical helpsheet issued to help ICAEW members to identify the various changes that may need to be made to audit reports under International Standards of Auditing (UK) where there is a modified opinion, emphasis of matter or other matter paragraph.

The Audit Report and Auditors Duty of Care to Third Parties - Revised (TECH 01/03 AAF)

Guidance for auditors on the audit report. Updated in May 2018, it assists auditors in managing the risk of inadvertently assuming a duty of care to third parties in relation to their audit reports.

Reporting in an ISA audit

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IAASB issued a suite of revised and new auditor reporting standards (ISAs) addressing the audits of complete sets of general purpose financial statements in 2015. The changes mainly focus on increasing transparency about the audit performed. This guide outlines the key requirements for auditors.

Preparing a non-statutory audit report

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.

Audit reports - overview

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Technical helpsheet issued to help ICAEW members understand the key changes to the audit reports for periods beginning on or after 17 June 2016 under International Standards on Auditing (UK) (ISAs (UK)).