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Professional judgement

ICAEW brings together a range of resources on professional judgement to help you develop your skills in approaching difficult judgements.

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Elearning course

Applying Professional Judgment in Audit

This interactive and practical programme enables learners to exercise good professional judgment as an integral part of the audit process.
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Demonstrating professional judgement

Professional judgement is an attribute that chartered accountants are expected to demonstrate and a skill that can be continuously improved on.
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Resources

Professional scepticism

These resources are intended to help auditors in applying and demonstrating a sceptical mind set in their audits.
More support

Elements of professional judgement

The importance of professional judgment in audit
Good professional judgment underpins all audit work. ICAEW sat down with two experts to explore further.

FRC Professional Judgement Framework

Audit & Beyond
  • Hub page
  • 27 Sep 2022
Topical features and commentary from experts helping to put audit into context.
New guidance published in response to audit failings
  • Article
  • 15 Jul 2022
The FRC’s recently published Professional Judgement Framework, the first of its kind, aims to help auditors improve their practice in this key component of quality audit.
FRC guidance on professional judgement
  • Website
  • 23 Jun 2022
The FRC published guidance on professional judgement in June 2022, including a framework, illustrative examples and expectations.

Can we regulate 'good' judgement?

In this ICAEW Insights podcast, we consider the future of audit and the impact of the government’s proposed reforms on professionals in the sector.
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Insights and analysis

Emerging risks in relation to members’ voluntary liquidations and the need for IPs to have an inquiring mind
  • Article
  • 31 Oct 2025
Increasing concerns around members’ voluntary liquidations (MVLs) underscore the importance for insolvency practitioners to conduct robust anti-money laundering checks. MVLs may be exploited to facilitate criminality, making vigilance, thorough customer due diligence and professional scepticism essential for preventing abuse.
Navigating tariffs: four considerations for auditors
  • Article
  • 29 Apr 2025
The introduction of enhanced tariffs by the current US administration will inevitably place a strain on many UK-based and global businesses.
Exclusive Developing professional judgement
  • Article
  • 17 Jan 2025
Auditors can enhance development and application of their professional judgement with ICAEW’s e-learning programme – and gain four hours of verifiable CPD.
AI and ethics: could finance become too reliant on AI?
  • Article
  • 06 Nov 2024
As AI is more widely adopted, researchers are concerned that finance teams might farm out too many tasks to the technology at the expense of professional judgement and scepticism.
Exclusive Scepticism and judgement: overcoming impediments
  • Article
  • 07 Jul 2023
Identifying and addressing barriers to the exercise of professional scepticism and judgement can enhance audit quality. Simon Kettlewell shares his tips.
Exclusive Scepticism and challenge
  • Article
  • 10 Mar 2023
All auditors want to apply professional judgement with scepticism and appropriate management challenge, but which key attributes and elements should be the focus of this never-ending quest?
Building a culture that cultivates professional judgement
  • Article
  • 27 Jan 2023
Professional judgement is a difficult part of the audit process to define and to apply in practice, including clarifying the differences between it and professional scepticism.
How personal culture and faith could inform professional judgement
  • Article
  • 17 Jan 2023
A new book outlines the role that personal ethics, background and traditions can play in shaping professional ethics in finance and accountancy.
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Helpsheets and resources

Exclusive Documentation of significant professional judgements in an ISA audit
There are many documentation requirements in International Standards on Auditing but the extent of documentation of judgement is a particularly critical area for auditors. This guide helps auditors understand why professional judgement is important and the extent to which they need to document it.
Exclusive What good looks like – Audit of accounting estimates
The audit of accounting estimates can be a complex area. Here we address the changes brought in by ISA (UK) 540 (Revised December 2018) and demonstrate what a good audit file looks like in the context of auditing accounting estimates.
ICAEW training films
ICAEW training films provoke discussions and challenge mindsets about how to deal with difficult decisions and topical issues in business situations. Develop skills to identify risk, technical competence and professional scepticism.
Professional scepticism
These resources are intended to help auditors in applying and demonstrating a sceptical mind set in their audits.

ICAEW Code of Ethics

About the ICAEW Code of Ethics
  • Regulations
All ICAEW members have a professional duty to comply with the Code of Ethics. They must familiarise themselves thoroughly with the current version of the Code which came into force 1 July 2025. Find out more about the Code and how to use it.
Code of Ethics archive
  • Helpsheets and support
See previous editions of the ICAEW Code of Ethics dating back to 2006, as well as supporting guidance for previous editions.

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