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Reporting and completion

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.

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

Technical Advisory Services 05-08-2020

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 Advisory Services 18-05-2020

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).

Audit reports - going concern

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Technical Advisory Services 24-09-2018

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 - overview

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Technical Advisory Services 24-09-2018

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)).

Auditing groups - subsidiaries

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Technical Advisory Services 01-09-2018

Technical helpsheet issued by to help ICAEW members to understand their responsibilities regarding subsidiaries when auditing the group accounts and the implications on the auditor’s report where access to the financial information of subsidiaries is denied by the parent entity.

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

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Technical Advisory Services 01-09-2018

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.

References on clients’ financial status

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Technical Advisory Services 30-08-2018

Technical helpsheet identifying the key considerations members must be aware of before responding to such reference requests.

Auditing micro-entities

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Technical Advisory Services 15-08-2018

Technical helpsheet to help ICAEW members when considering whether to accept engagement as auditor to a company preparing its accounts under the micro-entity regime.

Prior year unaudited - Audit report implications

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Technical Advisory Services 13-08-2018

Technical helpsheet issued to help ICAEW members to ensure their audit report complies with International Standards on Auditing (UK) (ISAs (UK)) where the prior period financial statements were not audited.

Reporting in an ISA audit

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International Accounting and Auditing 24-10-2017

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 an audit report for a charity

Audit and Assurance Faculty 07-09-2017

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.

Preparing an audit report for Limited Partnerships

Audit and Assurance Faculty 07-09-2017

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 a non-statutory audit report

Audit and Assurance Faculty 04-09-2017

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.

Illegal dividends in a private company

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Technical Advisory Services 01-02-2015

Technical helpsheet regarding the payment of illegal or unlawful dividends in private companies.

Maintaining your firm's record

Practice Department 17-06-2014

It is important to maintain an accurate ICAEW firm record. Use this guide to find out what to consider when changing the structure of your firm.

Auditor Liability Limitation Agreements

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Technical Advisory Services 01-07-2012

Technical helpsheet issued to help ICAEW members understand the background to, and purpose of, auditor liability limitation agreements and the procedures that need to be followed.