Audit Registration

A registered auditor is a firm which is eligible for appointment as a statutory auditor to undertake regulated audit work. They require to be registered with a Recognised Supervisory Body (RSB). This is a body which is recognised under the Companies Act for the purposes of the registration and supervision of registered auditors. ICAS is an RSB.

A firm can only accept appointment as an auditor if it is a registered auditor.

What is regulated audit work?

This is work in respect of a company incorporated in the UK or ROI or other entities (as specified in the Audit Regulations), which is required to be performed by a registered auditor, as auditor of that company/entity (i.e. is reserved by law or constitution), to a 'registered auditor'.

See Audit Regulations for further details.

How does a firm become a Registered Auditor?

• an application form for Audit Registration can be obtained from the Institute. A registration fee is payable on application;

• the Institute's Audit Registration Committee (ARC) considers whether the firm meets the eligibility criteria and that the firm, its principals and employees are fit and proper to carry out audit work;

• comply with the Professional Indemnity Insurance Bye-laws .

Principals who are not members of ICAS, ICAEW, ICAI or ACCA are required to become Audit Registered Non Members (RNM) ( RNM application form )

Once registered

The firm must:

• comply with the Audit Regulations and Guidance ;

• complete a Firms Annual Return;

• be monitored by the Institute. (See the Audit Monitoring section)

Signing Audit Reports

Within a firm of registered auditors, the individual(s) who sign(s) audit reports must:

• be nominated by the firm as a responsible individual (RI) and an RI application form must be completed.

Audit News

This is a periodic Newsletter, issued to firms, highlighting any changes to the Audit Regulations and current matters of interest.

See the Audit News section and Notification of change of auditor section for more details.

Any enquiries regarding Audit Registration should be addressed to ereid@icas.org.uk or 0131 347 0282.