Articles & features
Exclusive
CORPORATE GOVERNANCE
Breakout 1: Internal controls and risk management frameworks - getting ready for January 2026
- 06 Jun 2025
- ICAEW
This article, summarising the session at the 2025 ICAEW Corporate Governance conference, looks at key challenges in preparing for Provision 29 of the 2024 Corporate Governance Code, effective from January 2026.
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CORPORATE GOVERNANCE
Breakout 3: The role of CFOs and Audit Committee in delivering the company's sustainability strategy and targets
- 02 Jun 2025
- ICAEW
The CFO and audit committee play a key role in delivering a company’s ambitious net zero and sustainability strategy and objectives. This session explored good practice, practical examples and latest thinking around this challenging topic.
Exclusive
CORPORATE GOVERNANCE
Smaller listed firms have “great concerns” over audit, says QCA head
- 02 Jun 2025
- ICAEW
As a result of administrative burdens, the question of whether to remain listed has become a “margin call” for smaller companies, James Ashton tells ICAEW members.
National procurement network ‘key to NHS audit resilience’
- 22 May 2025
- ICAEW Insights
A single national procurement framework to help NHS bodies appoint auditors and encourage NHS bodies to engage more with audit firms during the audit procurement process are among the solutions touted in a report from the FRC.
Exclusive
CORPORATE GOVERNANCE
Corporate Governance Reform are we there yet? The Audit Committee and Auditor view
- 21 May 2025
- ICAEW
In this session at the ICAEW Corporate Governance Conference 2025, the panel explored whether recent regulatory and legislative developments have put us in a better position on external audit and corporate governance than we were Pre-Carillion - ie, will we be better able to prevent sudden disorderly corporate collapses?
Exclusive
CORPORATE GOVERNANCE
Breakout 2: The role of the Board in shaping culture and how to measure success
- 21 May 2025
- ICAEW
Insights from our session on board culture at the ICAEW Corporate Governance Conference 2025, which was chaired by Aleen Gulvanessian, Corporate Lawyer and Chair of Macfarlane Group PLC. Panellists were Laura Whyte, Non-executive director, Macfarlane Group, Tanya Gass, Partner at Norman Broadbent, Rafal Budzinski, independent consultant and former Senior Policy Associate, Corporate Governance and Stewardship at the FRC and Annabel Gillard, co-founder at LSE FORGOOD and advisory council member at the Institute of Business Ethics.
Exclusive
Issues with Building Society audits
- 13 Mar 2025
- Simon Gibbs
The BSA has called for the “vast majority of building societies to be removed from the scope of Public Interest Entities audits1” due to excessive audit costs. More may be needed.
Is the FRC doing enough to support small audits?
- 20 Feb 2025
- ICAEW Insights
A new FRC campaign to help SMEs navigate the audit market takes an upbeat approach – but there are deeper concerns about how UK auditing standards apply to smaller audits.
Guidance
CHARITABLE TRUSTS
EU audit reforms: analysing different impacts in the UK and Italy
- Report
- Jun 2021
- PDF (666kb)
The overarching conclusion of this report is that, after several successive EU Directives, the process of harmonisation remains difficult to achieve because of the differences that characterise European countries.
Audit quality – how to raise the bar
- Thought leadership report
- Mar 2021
- PDF (847kb)
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 AND ASSURANCE FACULTY
Financial Reporting - who does what
- Thought leadership report
- Mar 2019
- PDF (893kb)
This overview explains in simple terms who does what in the financial reporting system for UK companies with full main market listings, providing context for the current inquiry into audit, including the Brydon, Kingman, CMA and BEIS reviews.
PUBLIC POLICY
Procurement: Tendering for local public audit
- Report
- Mar 2018
- PDF (1,890kb)
This special report has been written to support local public bodies when they are in the process of tendering for external audit services under the Local Audit and Accountability Act 2014.
PUBLIC POLICY
Procurement: Tendering for local audit
- Report
- Mar 2018
This special report has been written to support local public bodies when they are in the process of tendering for external audit services under the Local Audit and Accountability Act 2014.
How does joint provision of audit and non-audit services affect audit quality and independence? A review
- Report
- May 2014
- PDF (681kb)
The primary aim of this report is to analyse changes in recent years in the market for the provision of non-audit services (NAS), with a particular focus on the joint provision of audit and non-audit services and the potential effects on independence and the quality of audit.
AUDIT AND ASSURANCE FACULTY
Evaluating your auditors
- Helpsheets and support
- May 2003
- PDF (130kb)
Guidance for audit committees: Guidance to assist non-executive directors on audit committees to gain an understanding of the provisions of the Combined Code on Corporate Governance
eBooks
The Library & Information Service provides a collection of eBooks as a benefit of membership. Please note that ICSA publications are only available to ICAEW members and ACA students. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact library@icaew.com
Exclusive
Audit
- eBook chapter
- 2016
- Douglas Armour
- ICSA Publishing
- Company Secretarys Handbook
An authoritative guide to company secretarial practice. Detailed commentary is accompanied by over 80 precedents. Chapter 11 of the handbook looks at audit, including auditor rotation and audit tenders.
Exclusive
Audits, accounts and financial statements
- eBook chapter
- 2017
- ICSA Publishing
- ICSA Publishing
- The ICSA Corporate Governance Handbook
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.
Exclusive
Changing auditors
- eBook
- 2013
- Mike Metcalf
- ICSA Publishing
Provides an explanation of the statutory rules on auditor appointment, the termination of the old auditor’s appointment, and professional and contractual matters.
Exclusive
Corporate governance handbook
- eBook
- 2017
- Bernadette Barber | Barbara Allen
- ICSA Publishing
The ICSA Corporate Governance Handbook provides full explanations of the statutory and regulatory regime applicable to listed companies but also,addresses how governance best practice might be applied by private companies, including subsidiaries.
Exclusive
Count down: the past present and uncertain future of the big four accounting firms (2nd edition)
- eBook
- 2017
- Jim Peterson
- Emerald Publishing
This title looks at 'the questionable value and the uncertain viability of Big Audit— the business, regulatory and legal model by which audit services are delivered to the world's largest companies by the surviving global accounting networks: the Big Four - Deloitte, EY, KPMG and PwC'. It looks at the current state of 'Big Audit' and the future of these firms.
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You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, 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
- May 2023
- Financial Reporting Council
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.
Audit quality practice aid for audit committees
- Jan 2019
- Financial Reporting Council
FRC issued this practice aid to assist audit committees in evaluating audit quality. New sections have been added on audit tendering and transparency of audit committee reporting.
Statutory report on the audit tender process
- Oct 2018
- KPMG
Guidance on the audit tender process from the Audit Committee Institute, part of the KPMG Board leadership Centre. Includes sample documentation.
Getting real value from the audit tender process
- Jan 2018
- KPMG
Guidance on the audit tender process from the Audit Committee Institute, part of the KPMG Board leadership Centre.
Disclaimer
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