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Audit committees

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

In this section

Audit quality: how to raise the bar

The long-awaited government consultation paper on changes to the corporate governance and audit system is expected to advance the debate around audit quality. But what steps can and should audit committees, audit regulators, investors and auditors in the UK take now to improve audit quality?

Spotting internal audit risk areas

ICAEW’s Internal Audit Panel has identified eight risk areas where boards and audit committees should be asking themselves whether they are receiving the objective assurance they need amid increased public scrutiny.

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.

Making a difference: Audit committees in central and eastern Europe

Based on in-depth interviews with audit committee members in seven CEE countries, this report draws out insights on how audit committees are working, how they are having an impact and how they view the future. It provides insights into some of the common challenges still remaining at a time when the role of audit committees is expanding, largely driven by the introduction of new statutory requirements

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 Core 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 Core 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.

Audit

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.

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.

Building strong risk committee relationships

The article discusses the need for companies to establish strong risk committee relationships to successfully resolve the challenges posed by the COVID-19 pandemic.

Working in concert

The article provides insights from several current and former chief audit executives on the key questions that they wish their audit committees would have asked them but never or rarely did.

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

UK Centre for Board Matters

Ernst & Young network for Non-executive directors and audit committee members. offers networking, technical workshops, thought leadership, guidance and webinars and podcasts.

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