Guidance
Displaying 1-9 of 9 results
Audit Committee Handbook
- Oct 2017
- Audit Committee Institute
- KPMG
Handbook published by the KPMG-sponsored Audit Committee Institute (ACI) in 2017. Appendix 17 on How to conduct an audit tender covers the audit tender process including identifying objectives, planning the process, making decisions and beginning the audit tender. Includes an example invitation to audit tender letter. Forms part of the Tools and best practice section (see bottom of ACI web page).
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 tender guidance
- Jul 2017
- ICAS
Guidance for audit committees of a public interest entity undertaking an audit tender.
Audit tenders: notes on best practice
- Feb 2017
- Financial Reporting Council
Practical guide updated by the FRC in 2017 with case studies outlining how companies have approached the tendering process. Includes the following sections:
Why tender?; Timing of a tender; Understanding your objectives; Selecting firms to involve; Running the tender; Making the decision; Transition.
Auditor selection: 4 steps to a more effective process
- Aug 2016
- Accountancy Europe
2016 Publication from the Accountancy Europe which gives guidance on a high-quality audit tender selection process. Also links to the 2013 paper Auditor selection: towards best practices.
Getting real value from the audit tender process
- Jan 2018
- Audit Committee Institute
- KPMG
Guidance on the audit tender process from the Audit Committee Institute, part of the KPMG Board leadership Centre.
Investment Association guidelines on audit tenders
- Nov 2017
- Investment Association
Guidance that sets out the expectations of the IA’s members - UK institutional investors - when companies tender their audits. Its coverage includes planning the tender; tender candidates; the tender process; and the tender decision.
Statutory report on the audit tender process
- Oct 2018
- Audit Committee Institute
- KPMG
Guidance on the audit tender process from the Audit Committee Institute, part of the KPMG Board leadership Centre. Includes sample documentation.
UK corporate governance code
- Apr 2016
- Financial Reporting Council
Provisions 25 and 26 of the UK Corporate Governance Code, published by the FRC in July 2018, covers requirements relating to audit retendering.
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Regulatory changes
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Enhancing Confidence in Audit: Proposed Revisions to the Ethical Standard, Auditing Standards, UK Corporate Governance Code and Guidance on Audit Committees
- Sep 2015
- Financial Reporting Council
Consultation on EU audit market reform from the Financial Reporting Council (FRC)
Factsheet on Audit Policy
- Apr 2014
- FEE
- Accountancy Europe
Factsheet published by the Federation of European Accountants (FEE) - now Accountancy Europe - on the new European audit Regulation and Directive adopted by the European Parliament which came into force on 17 June 2016.
Reform of the audit market
- Apr 2014
- European Commission
Collection of documents on the EU regulatory framework on statutory audit on the European Commission website.
Statutory audit services market investigation
- Oct 2014
- Competition and Markets Authority
- HM Government
Collection of documents relating to the statutory audit services market investigation by the Competition Markets Authority. Includes the Statutory Audit Services for Large Companies Market Investigation (Mandatory Use of Competitive Tender Processes and Audit Committee Responsibilities) Order.
Displaying 1-4 of 4 results
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