Gain audit rights in the UK as an ACCA

How to gain audit rights in the UK

In order to gain audit rights in the UK, individuals joining the ICAEW will need to:

• Gain the ICAEW audit qualification
• Obtain an ICAEW practising certificate 
• Apply to be an ICAEW Responsible Individual (you must be nominated by your firm for this)

The Audit Qualification (AQ)

What is the Audit Qualification?

The Audit Qualification is:

• A statutory status needed by and applied for by a member
• It is issued by the ICAEW under delegated powers from the UK Companies Act 
• When combined with a practising certificate, this allows a member to then apply for audit rights - ie the ability to sign a statutory audit report

I already have the ACCA audit qualification

If you already hold the ACCA audit qualification then the ICAEW will recognise this, and will grant the ICAEW AQ on this basis. 

Please note gaining membership through the Pathways route does not change the requirements for gaining the AQ.

I do not have the ACCA audit qualification

If you wish to gain the UK audit rights and do not already hold them with the ACCA you will be required to:

• Sit and pass additional ICAEW examinations
• Complete a 3-year training agreement within an ICAEW Authorised Training Employer (ATE). You may be eligible to apply for one year credit for prior work experience (CPWE) if you have recent experience within an ICAEW ATE.

Please contact us to confirm the specific requirements prior to taking any action via aq@icaew.com.

Practical Training / Experience

1. During the combined periods of approved training and post-qualification work experience, a minimum of 3 years’ general training and work experience within an authorised training environment. At least 2 of the 3 years must have been completed within a firm of registered auditors
2. During the combined periods of approved training and post-qualification work experience, completed a minimum of 240 days’ audit work experience within an ICAEW Authorised Training Employer which is also a firm of Registered Auditors.
3. Of this 240 days’ work experience, at least 120 days must be in statutory company audit work as defined in the Companies Act 2006, and the rest must be in either statutory audit work or other audit work similar to statutory audit work, where the nature of such work conforms to the definitions agreed by the ICAEW and the Financial Reporting Council.
4. The audit work must have been supervised by an individual eligible to sign UK audit reports and must have been obtained in an ICAEW Authorised Training Employer.

These requirements are set by the Companies Act and regulated by the Financial Reporting Council.

We recommend contacting ACCA as it is often more straightforward to gain the AQ with them. We can then recognise the qualification.