There are several components to the requirements for the Audit Qualification (AQ). The requirements are set out in the Institute’s Training Regulations and are based on the law in each jurisdiction.

The relevant law in each jurisdiction in this regard is Companies Act 2006 in the United Kingdom and Companies Act 2014 in the Republic of Ireland. An AQ may be applied for, and be awarded to members, under the provisions of the Companies Act 2006 in the United Kingdom or under the provisions of the Companies Act 2014 in the Republic of Ireland, as applicable. 

The Training Regulations can be accessed here.

The requirements differ for members admitted before and after 1 January 1990. A Member admitted before 1 January 1990 shall be deemed to have met the educational requirements to be eligible for the Audit Qualification.

Members will also note from the Training Regulations that the minimum 46 weeks practical audit training requirement is different for Republic of Ireland and the UK, reflecting the different law in the two jurisdictions. To assist trainees and members in recording their audit experience for AQ purposes, the Institute has produced ‘Guidance on recording audit days (ROI)’ and ‘Guidance on recording audit days (NI)’.

A member who has obtained Institute membership under reciprocal membership arrangements (a reciprocal member) can only be awarded the AQ in limited circumstances. Please email auditqualification@charteredaccountants.ie for further information.