Audit qualification requirements

Regulations for the Audit Qualification


Under the provision of the Companies Acts (both UK and Ireland) members are not entitled to work in audit practice, unless they have met the educational and training requirements set out in the Acts.

Confirmation that members have met the educational requirements for the Audit Qualification, does not imply they are registered with the Institute to undertake audit work or sign off audit accounts.  If a member intends to undertake audit work, they must subsequently apply formally for audit registration  with the Professional Standards Department.

Educational Requirements for the Audit Qualification

A member of the Institute (admitted on or after 1 January 1990) will be deemed eligible to have the met the education requirements for the Audit Qualification, provided they have met the undermentioned criteria :

  1. He or she has been admitted to membership following training under a Training Contract (minimum 3 years) and or under the Elevation (Flexible) Programme (minimum 3 years, applicable from 2014) in a Recognised Training Contract  supervised by a Statutory Auditor or in a firm which is recognised as a Training Firm supervised by a Statutory Auditor by the Institute of Chartered Accountants in England and Wales (ICAEW) or the Institute of Chartered Accountants of Scotland (ICAS).

     

  2. He or she has, in the course of his or her period of Training Contract and or under the Elevation (Flexible) Programme in a Recognised Training  supervised by a Statutory Auditor, or thereafter, received at least forty-six weeks practical training:

     

    In the case of the Republic of Ireland:

    (a) statutory audit work ie. the auditing of annual accounts, consolidated accounts or other similar financial statements as required by Schedule 1 S.I.312 of 2016 – European Union (Statutory Audits) (Directive 2006/43/EC, as amended by Directive 2014/56/EU, and Regulation (EU) No 537/2014 Regulations 2016

    In the case of Northern Ireland, either:

    (b) statutory audit work (as defined under the Companies Act 2006), or

    (c) other audit work similar to statutory audit work (as approved by the Secretary of State Under Schedule 11 paragraph 9 (1) (b) of the Companies Act 2006) of which at least twenty-three weeks shall have been in statutory audit work as defined in the Companies Act 2006.

  3. He or she has during the educational and training requirements under the Acts, inclusive

    of the Audit Elective option in the Final Admitting, where applicable from 2010 onwards

  4. He or she has during the period post admission to membership (if any), complied with the regulations on the completing of Continuing Professional Development  as adopted from time to time by Council.

Audit Qualification Application form



AQ Application 2017

Have a query?

For queries regarding Audit Qualification Requirements please contact Judy Waters from our Support & Services page.

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