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Audit committees

Practical information and guidance for Corporate Governance professionals working on audit committees.

In this section

Addressing corporate fraud risks

Audit committees share their knowledge, experience and concerns around fraud risks in ICAEW’s second report on sharpening the focus on corporate fraud. Katharine Bagshaw shares some insights.

Assurance mapping

Assurance maps can be a powerful tool providing great insights for boards, senior management and audit committees. Here the Audit and Assurance Faculty explores the concept of assurance maps and the benefits to various stakeholders.

Audit quality: how to raise the bar

What steps can and should audit committees, audit regulators, investors and auditors in the UK take to improve audit quality? This essay from the Audit and Assurance Faculty examines audit quality in terms of ownership, behavioural aspects, and structural drivers.

Audit committees in Europe

This report expands our examination to audit committees in a further six EU countries, spread across the centre and south, with various corporate governance traditions and different sized capital markets – namely Belgium, Cyprus, Greece, Malta, The Netherlands and Portugal.

Webinars and other recordings

Developing an audit and assurance policy

This webinar will provide attendees with an overview of ICAEWs recommendations for developing an audit and assurance policy, based on proposals included in Brydon’s report on the quality and effectiveness of audit.

Leading an effective audit committee

Angela Crawford-Ingle, Chair of Audit & Risk Committees at Beazley plc, Swinton Insurance and River and Mercantile Group, and Tim Copnell, Founding Chairman of KPMG’s UK Audit Committee Institute share best practice in leading an effective Audit Committee.

Disclaimer: The opinions expressed by external guest speakers in interviews or other publications included on this website are, by their nature, those of the speaker. They are not necessarily fully endorsed by the ICAEW or purport to reflect the official policies and views of the ICAEW or its members.

Bloomsbury Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Accounting and Tax Service.

The risk conversation at board level

A chapter exploring how the oversight of risk should be dealt with at the level of the board of directors.

Board committees

Practical guidance on the effectiveness of audit, risk, remuneration and nomination board committees.

Corporate governance

The full text of the Combined Code and related documents issued by the Financial Reporting Council.

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The board structure and its committees

Chapter 3 deals with the structure of the board, its governance role and responsibilities. It also gives brief overviews of the different types of board committees, including: audit; nomination; remuneration; and risk committees. These are dealt with in more detail in later chapters.

Audits, accounts and financial statements

Chapter 7 gives details of the purpose of audit and the auditor's duty of care. The role of the audit committee is dealt with in detail, including audit tendering and internal control and risk management.


An authoritative guide to company secretarial practice. Detailed commentary is accompanied by over 80 precedents. Chapter 11 of the handbook looks at audit, including choice of auditor, audit rotation, audit committees and reports to the audit committee.

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The Library & Information Service provides a collection of articles as a benefit of membership. Please log in to view these articles. If you are unable to access the articles, please see our Help and support page or contact library@icaew.com.

AI ethics committee - a new necessity?

Article explains why having expert oversight over your organisation's use of AI can safeguard your data and your brand. An AI ethics committee can identify and mitigate the ethical risks of AI products that are developed in-house or procured from third-party vendors.

7 pressing cybersecurity questions

This article offers 7 questions to ask to make sure your board understands how cybersecurity is being managed by your organisation. Asking these questions will also raise awareness of the importance of cybersecurity, and the need to prioritize action.

How internal audit helps increase cybersecurity transparency for the board

Article discusses how internal audit can help the board see an accurate picture of cyber risk

Cybersecurity from within

Article discusses internal IT security threats and how these shouldn't be left to the IT department and should b addressed by an organisation's internal controls.

Terms of use: You are permitted to access articles subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

Useful links

Audit Committees and the External Audit: Minimum Standard

The primary objective of this standard is to enhance performance and ensure a consistent approach across audit committees within the FTSE350. By setting out clear expectations and guidelines, the FRC aims to support the delivery of high-quality audits and reinforce public trust in the financial reporting process. The standard will apply to FTSE350 companies.

Developments in audit

Guidance from the FRC, last published in 2021 on development on standards and guidance in audit, including the role of the audit committee, quality monitoring, oversight of professional bodies, enforcement and future plans and strategy. An index of previous reports is included, going back to 2011/12.

Audit Committee Institute

The KPMG sponsored Audit Committee Institute's website contains a toolkit, which is "an expanded collection of practical and useful frameworks providing audit committee members with examples they can consult and tailor when carrying out certain tasks as part of their audit committee oversight duties".

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