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Auditor Liability Limitation Agreements

Technical helpsheet issued to help ICAEW members understand the background to, and purpose of, auditor liability limitation agreements and the procedures that need to be followed.

Issued: July 2012
Last reviewed: August 2019

This helpsheet has been issued by ICAEW’s Technical Advisory Service to help ICAEW members understand the background to, and purpose of, auditor liability limitation agreements (LLAs) and the procedures that need to be followed. This helpsheet covers the requirements for companies registered under the Companies Act 2006, it does not address the specific requirements of other types of entities. In these circumstances, members need to check whether LLAs are permitted in such audits and, if so, much of the helpsheet will be relevant with changes of wording needed as necessary.