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Regulation and working in audit

Firms working in the regulated area of audit are required to comply with the Audit Regulations and Guidance. This section explains what constitutes regulated audit work, how to gain audit rights and examines some of the consequences of Brexit on auditing rights.

In this section

Local public audit in England

ICAEW is now responsible for the licensing, registering and monitoring of auditors who wish to carry out audits of local public bodies. This page explains what accountancy firms and individuals need to do to become a registered local auditor under the Local Audit and Accountability Act 2014.

Auditor liability

Auditor Limited Liability Agreements (LLA) are contracts designed to ensure that auditors are not pursued for excessive losses, just a reasonable proportion based on their responsibility.

Brexit: Removal of audit rights in Ireland

ICAEW has received an indication from the Irish audit authorities that they interpret the Audit Directive to mean that non-Irish resident accountancy firms currently on the Irish Audit register, are unlikely to retain automatic audit rights in Ireland in the event of a no-deal Brexit. Your firm will be directly affected by this.