Audit implications
Latest articles
Influencing policy to support you: May 2024
- Article
- 31 May 2024
ICAEW has been meeting with MPs to discuss economic growth and the opportunities offered by technology, as well as giving evidence to parliament on audit reform and the effectiveness of sanctions on Russia.
Ukraine crisis: where does your auditor stand?
- Article
- 28 Mar 2022
Understanding your auditor’s Russian trading position is key to audit committees managing potential reputation and sanction risks, experts warn.
Ukraine crisis: the impact on group auditors
- Article
- 24 Mar 2022
UK group auditors with overseas component auditors face several challenges and issues in light of the Ukraine conflict.
Guidance
Find out what the UK Government’s ban on auditing services to Russia means for your clients
- Article
- 20 Feb 2023
On 15 December 2022, the UK Government laid new regulations in Parliament that extended the prohibition on the provision of professional services to include 'auditing services'. The ban came into effect from 16 December 2022 but there are limited exemptions.
Exclusive
Maintaining and monitoring audit quality
- Article
- 08 Nov 2022
QAD activities to monitor the quality of audits by firms registered with ICAEW have increased because of the war in Ukraine, sanctions, lack of resources or experience. This may mean extra QAD monitoring by ICAEW.
Professional Standards update: September 2022
- Newsletter
- 20 Sep 2022
In this month’s newsletter we issue a risk alert for new audit tenders, provide you with additional guidance on the UK ban of the provision of accountancy services to Russia and highlight another case study on how our latest training film is being used. We speak with one of the ICAEW Regulatory Board’s newest members, Claire McManus about why a people-focused approach is close to her heart and how the wider environment influences professional conduct. Our latest disciplinary report and our 2021/22 Practice Assurance Monitoring Report are also now available.
Audit News: Issue 71
- Newsletter
- 16 Jun 2022
Read about our monitoring approach to implementation of ISQM1, audit monitoring visits update, why clarity is vital in auditor resignation statements, FRC changes to registrations for auditors, government’s audit reform plans, revised Irish audit regulations audit guidance in response to the Ukraine crisis, reporting matters of material significance to charity regulators, and the latest Professional Standards updates.
Exclusive
Ukraine: group audits
- Article
- 05 May 2022
Group auditors with overseas component auditors face particular challenges because of the Ukraine crisis. This Audit and Assurance Faculty guidance explores the issues – including ISA UK 600 requirements – and their implications.
The Professional Standards April update
- Newsletter
- 20 Apr 2022
In this month’s update we remind all firms to ensure they are prepared for the new audit Quality Management standards which will come into effect in December. We highlight some of the common inadvertent breaches seen by the Probate Committee and provide you with a summary of the ICAEW's response to recent proposals for a single insolvency regulator. Our AML supervision team have also flagged some key resources to help you understand the impact of UK sanctions against Russia.
Guide to the impact of the war in Ukraine on group auditors
- Helpsheets and support
- 24 Mar 2022
This guide explores issues faced by UK group auditors with overseas component auditors in light of the Ukraine conflict.
Corporate reporting implications
Latest articles
Influencing policy to support you: May 2024
- Article
- 31 May 2024
ICAEW has been meeting with MPs to discuss economic growth and the opportunities offered by technology, as well as giving evidence to parliament on audit reform and the effectiveness of sanctions on Russia.
Exclusive
Ukraine and beyond
- Article
- 01 Jul 2022
Considering the financial reporting implications of the war in Ukraine.
War in Ukraine: the corporate reporting implications
- Article
- 15 Mar 2022
ICAEW issues guidance after the Financial Reporting Faculty warns that the economic knock-on effects could be felt widely by business.
Guidance
Exclusive
How to distinguish adjusting from non-adjusting events after the reporting period under IAS 10
- Helpsheets and support
- 23 May 2022
This guide outlines factors to consider when determining whether post balance sheet events are adjusting or non-adjusting in the accounts.
Exclusive
How to distinguish adjusting from non-adjusting post balance sheet events under UK GAAP
- Helpsheets and support
- 12 May 2022
This guide outlines the factors to consider when determining whether post balance sheet events are adjusting or non-adjusting in the accounts.
War in Ukraine: the corporate reporting implications
- Helpsheets and support
- 14 Mar 2022
This guide serves to highlight key areas of financial and non-financial reporting that companies might consider in light of the ongoing war in Ukraine.