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Audit committees - useful links

Practical guidance and other information on the work and responsibilities of the audit committee from external websites

FRC guidance

Developments in audit

July 2019

Guidance from the FRC, last published in July 2019 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. The 2018 report is also still available.

Guidance on audit committees

April 2016

The guidance, issued by the FRC in April 2016, is 'designed to assist company boards in making suitable arrangements for their audit committees, and to assist directors serving on audit committees in carrying out their role.

Revised guidance on the strategic report

July 2018

The 2018 Guidance has been enhanced to recognise the increasing importance of non-financial reporting while maintaining the key principles of existing guidance. The FRC believes that the integration of non-financial information into the strategic report is a key part of telling a company’s story

See also

Further information about the background of the guidance and links to previous editions are available from our dedicated page on the FRC Guidance on Audit Committees. 

Guidance on Risk Management, Internal Control and Related Financial and Business Reporting - this guidance, from September 2014 integrates and replaces the FRC's Internal Control: Guidance to Directors and Going Concern and Liquidity Risk: Guidance for Directors of UK Companies. It links the guidance on internal control (Formerly known as the 'Turnbull guidance') with emerging good practice for risk management following the FRC's Board and Risk report and final recommendations of the Sharman Panel of Inquiry into Going Concern and Liquidity Risk.

Further guidance

Centre for Audit Committee and Investor Dialogue

Mazars Mazars

Run by Mazars in association with five institutional investor groups, the Centre for Audit Committee and Investor Dialogue aims to promote dialogue between audit committees and their shareholders. A regular debrief of their meetings is freely available.

Guidance for audit committees on cloud services

National Audit Office National Audit Office April 2019

NAO guidance providing an overview of cloud services and outlining government policy on their use. It then sets out specific questions for audit committees to consider asking when engaging with their management at three stages: Assessment; Implementation; Management.

Harnessing the power of internal audit

Chartered Institute of Internal Auditors Chartered Institute of Internal Auditors February 2019

This IIA guidance is designed to help the audit committee and other stakeholders to harness the power of internal audit for the good of their organisations.

Terms of reference for the audit committee

ICSA - the Governance Institute ICSA - the Governance Institute January 2020

ICSA guidance note that complies "fully with the requirements of the UK Corporate Governance Code, published in July 2018 (the Code) and reflects the FRC Guidance on Audit Committees (FRC Guidance), published in April 2016."

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.


Assessing the performance of the audit committee

Ernst & Young January 2014

This Ernst & Young checklist can be used by audit committees to perform a self evaluation or by boards as part of their assessment of the performance of the audit committee. The checklist was updated in January 2014.

Charity audit committee performance evaluation

Deloitte September 2016

This Deloitte document provides charity audit committee members with a checklist covering what is required of them, to assess performance and identify areas for further development. While the checklist is not mandatory under charity legislation, it is recognised as a best practice benchmark for audit committees.


Brexit and the role of the Public Sector Audit Committee

PWC Public sector matters blog 28 September 2016

A blog post highlighting the areas that audit Committees should be probing for the impact of brexit. The article highlights some of the risks, controls and governance issues that should be considered.

Brexit in the Boardroom - the role of Internal Audit

KPMG 22 June 2016

A six page briefing on the questions for management following the decision to leave the European Union, focusing on the role of internal audit to support management and provide reassurance to the audit committee.

FRC issues advice to preparers of listed companies

Financial Reporting Council 11 October 2016

FRC guidance issued to preparers of annual reports for around 1,200 large and smaller listed companies which highlights key issues and improvements that can be made to annual reports in the 2016 reporting season to help to foster investment in the UK. The letter includes a section on disclosures relating to the EU referendum result.


Global audit pulse

KPMG September 2019

To help identify the pressing challenges facing audit committees – and their boards and businesses – in the current environment and in the months ahead, KPMG's Global Audit Committee Survey captures the views of nearly 800 audit committee members and chairs in 4 countries on a range of issues. KPMG publishes other Audit Committee surveys including Audit quality,  Auditor transition and Changing auditors.


Audit committee brief


Monthly newsletter from Deloitte's (US) Center for Board Effectiveness that 'provides audit committee members with recommendations, overviews of corporate governance resources, regulatory and legislative environment outlooks, and technical updates'.

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