Policy and influence

  1. ICAS calls for LCE audit standard

    Anne Adrain, ICAS Head of Sustainability and Assurance, summarises the main revisions to the UK Going Concern standard.

  2. Is two-tier audit inevitable?

    ICAS discusses whether a two-tier audit regime is on the horizon.

  3. Proposals to reform UK audit market

    BEIS has published its consultation on the Competition and Market Authority's (CMA) proposed reforms to the UK statutory audit market.

  4. ICAS quality management response

    ICAS has responded to the International Auditing and Assurance Standard Board’s (IAASB) proposed suite of quality management standards.

  5. Audits of less complex entities

    The IAASB is seeking views on the challenges in applying the International Standards on Auditing (ISAs) in audits of less complex entities.

  6. Enhancing the value of Audit

    This report from ICAS and CPA Canada includes recommended actions from experts to help advance the value and relevance of audit.

  7. Improving the quality of group auditing

    Research into improving the quality of group auditing

  8. Restoring faith in audit

    A good-quality audit is vital to maintaining trust in the market, says David McBain

  9. Graduated findings in UK audit

    Graduated findings appeared in auditor’s report back in 2013. BEIS Committee report and John Kingman have recommended that this approach is mandated in the UK.

  10. BEIS Committee recommendations on capital maintenance

    An opinion piece on the BEIS Committee’s report on the future of audit.

  11. Shaping the future of audit

    Mike McKeon and Michelle Mullen discuss the latest proposals for audit reform and what impact they will have on the profession.

  12. Audit quality is paramount

    In the ICAS response to the CMA and BEIS we have reiterated that audit quality has to be the overriding objective. We highlighted to the CMA areas where it needs to provide greater clarity to the evidence in support of its conclusions, and the remedies it has proposed.

  13. UK audit market overhaul key points

    UK authorities have published reports that set out their proposals for the future of the UK audit market.

  14. Audit should be part of holistic review

    ICAS has submitted its response to the CMA on the large company audit market in the UK. Our response to Sir John Kingman’s review of the FRC and previous ICAS publications informed our submission. Our key messages to the FRC are set out below.

  15. ICAS/CPA Canada future of audit

    "In 2017, ICAS and the Chartered Professional Accountants of Canada (CPA Canada) hosted a symposium on what audit and assurance could look like in the future."

  16. ICAS vision for a refreshed FRC

    "ICAS has set out a vision for the Financial Reporting Council (or a successor body), centred around establishing a new core purpose to generate enhanced public trust in Public Interest Entities (PIE) and the audit profession."

  17. Future of assurance in 2018

    "In 2010, ICAS established a working group in the aftermath of the global financial crisis in recognition that the crisis had damaged faith in both corporate reporting and assurance. With auditors once again under the spotlight we revisit the paper to assess to what extent they have influenced the current corporate reporting and assurance environment."

  18. Review of audit sector

    The Competition and Markets Authority (CMA) has launched a detailed study of the UK audit sector to examine concerns that it is not working well for the economy or investors.

  19. Audit debate off and running

    "On Monday I published an article on icas.com called “The critical question in the audit debate”. Since publication (and that was only two days ago!) we have heard that the FRC is going to undertake a further review on the scope of audit; the CMA has announced a market review; and Greg Clark, the BEIS Minister, has asked Sir John Kingman to add the audit procurement process to his remit."

  20. Are ISAs fit for all

    Are ISAs sufficiently scalable for smaller and less complex entities? A new paper highlights this issue for further discussion and debate.