Effective 1 October 2024

Amendments were made relating to CPD, key definitions and audit-firm eligibility, recognition of overseas audit qualifications, monitoring compliance and committee definitions.

• Access the UK Audit Regulations and Guidance effective 1 October 2024

1 April 2025 compliance deadline: audit-firm eligibility

Firms should act now regarding the changes that relate to audit firm control and your eligibility to carry out audit work. You must comply by 1 April 2025.

• Audit eligibility changes: check your firm will meet new requirements
• Check and monitor your firm's audit eligibility

1 June 2025 changes: movement of audits and alternates

As set out in August 2024, the second tranche of changes to the Audit Regulations are currently going through approval with an expected implementation date of 1 June 2025.

• Find out more

UK Audit Regulations and Guidance Archive

• Download a Schedule of Amendments listing the 1 October 2024 changes
• Access the UK Audit Regulations and Guidance archive

ICAEW has revoked its Recognised Accountancy Body (RAB) status in Ireland.

Chartered Accountants Ireland has recently issued new stand-alone Audit Regulations for Ireland. The Audit Regulations Ireland replace the Audit Regulations and Guidance (effective 1 January 2020) and the addendum effective 22 December 2021.

• Access the Audit Regulations and Guidance for Ireland (effective from 6 April 2022)

Special arrangements apply to firms that audit companies incorporated in one of the Crown Dependencies that have 'transferable securities' admitted to trading on a 'regulated market' in the EU. The arrangements apply even if the firm or company is not operating in a Crown Dependency.

• Access the requirements

Practical audit support and guidance is available to ICAEW auditors including the latest regulatory updates, webcasts and monitoring reports.

• Access a wide range of useful resources

Issues for audit firms outside the US that audit entities with a primary or secondary listing in the US, or a significant subsidiary thereof, and need to register with the PCAOB.

All audit registered firms considering a change of ownership to introduce private capital should engage with the Financial Reporting Council (FRC) and their recognised supervisory body (RSB) as early as possible.

• Learn more and read FRC guidance on the independence implications of private capital funding