Learn whether your organisation qualified for audit exemption for reporting periods beginning on or after 1 January 2016, under the Companies Act 2006 as amended by SI 2015/980. ICAEW's Technical Advisory Service provides guidance covering: group eligibility; eligibility of UK subsidiaries; and audit exemption conditions.

Read about preparing financial statements for audit-exempt organisations, including filing requirements

Learn more about other services and forms of assurance that may be of benefit to audit-exempt organisations.

In this Insights In Focus special episode, we discuss the rollout of the International Standard on Quality Management (ISQM) and what firms need to do before ISQM 1 is implemented on 15 December 2022.

Not started yet or in need of further help? Don’t despair, ICAEW shares key resources for small practitioners on ISQM implementation to get you on your way.

Key changes, effective date and overview of the Quality Management Standards.

Steps firms can take now on their quality management journey.

ICAEW brings together a range of resources on professional judgement to help you develop your skills in approaching difficult judgements.

The Audit and Assurance Faculty have produced this two part guide for auditors, covering COVID-19 considerations for auditing going concern, and how to report when a material uncertainty relating to going concern exists.

Professional scepticism is central to the work of auditors and yet audit regulators and others continue to express concerns that auditors are not sufficiently sceptical. This report explores what auditors and other stakeholders think about how it can be enhanced and who is responsible for it.

14 January 2020: the IAASB has issued ISA 315 (Revised 2019) Identifying and Assessing the Risks of Material Misstatement.

An overview of the relevant requirements, challenges and developments in risk assessment.

Applying the materiality requirements in International Standards on Auditing (ISAs) can be challenging. As highlighted in inspection findings, reviews and from experience in practice, it’s an area where improvement could be made.

The spread of the coronavirus pandemic (COVID-19) resulted in the rapid adoption of remote working, including remote auditing techniques. This Audit and Assurance Faculty Know-How guide focuses on lessons learned from COVID-19 on the practicalities of audits conducted remotely.

This guide from ICAEW's Audit and Assurance Faculty looks at considerations for auditors when performing remote inventory audit testing.

Understanding the entity, its environment and internal controls.

Understanding the new concept and how this can be applied.

This Know-How guide from ICAEW’s Audit and Assurance Faculty covers what irregularities are, how the requirements have changed in ISA (UK) 700 (Revised January 2020), what should be reported on in the auditor’s report, and how COVID-19 may impact what is reported.

An auditor may conclude that a matter disclosed in the financial statements is so important that it is fundamental to users’ understanding of those financial statements. In this case an emphasis of matter paragraph will be included in the auditor’s report, which draws the reader’s attention to the entity’s disclosures.

This guide was developed by the Audit and Assurance Faculty with the Business Law Department in July 2020 and is based on the relevant laws and regulations that apply as at 1 July 2020.

This guide explores issues faced by UK group auditors with overseas component auditors in light of the Ukraine conflict.

This Audit and Assurance Faculty Know-How guide explores COVID-19 issues faced by UK group auditors with overseas component auditors. It offers practical considerations in relation to the work of component auditors to address the requirements in ISAs (UK). It may also be relevant for group auditors in other jurisdictions with similar requirements.

Providing valuable content, best practice and topical issues within the profession.

This guide is designed to explain the main changes that are needed to the audit report of a group compared to that of a company only.

There are lessons to be learned from the Post Office Horizon scandal about the ethical issues that can arise from the technology we use.

A new report paints a stark picture of the potential fallout for businesses and consumers from supply chain disruption, including empty shelves, damaged reputations and business losses.

Artificial Intelligence offers exciting potential benefits to the audit profession, but without regulation it risks creating as many problems as it does solutions, warn Andrew Moyser and Mark Lumsdon-Taylor.

Creating a space for firms to trial, test and fail will be critical to advancing AI in audit, says MHA partner Andrew Moyser, who was a keynote speaker at this year’s ICAEW annual conference.

This Know-How guide from ICAEW’s Audit and Assurance Faculty provides some considerations for auditors when assessing the risks of fraud in relation to COVID-19 government support schemes.

The Audit and Assurance Faculty have produced this two part guide for auditors, covering COVID-19 considerations for auditing going concern, and how to report when a material uncertainty relating to going concern exists.

The FAQs below, created by ICAEW’s Audit and Assurance Faculty, are designed to help investors and other users of audit reports to better understand the different types of audit report wordings used by auditors, and their significance. They also highlight how economic uncertainty resulting from wider external factors can impact audit reports.

This guide from ICAEW's Audit and Assurance Faculty looks at considerations for auditors when performing remote inventory audit testing.