We focus our specialist knowledge to bring you value through the audit process
Audit quality and regulation
Statutory audit lies at the heart of the UK’s financial reporting regime. Our audit approach delivers a robust and challenging service, providing assurance to owners and those with governance responsibility.
Following the introduction of the European Union Audit Regulation and Directive into UK law on 17 June 2016, Crowe Clark Whitehill is classified as a ‘public interest entity auditor’ and, as a result, continues to be subject to oversight and inspection by the Audit Quality Review (AQR) team, which operates within the Conduct Division of the UK Financial Reporting Council.
As such, we are subject to periodic full-scope inspections by the AQR, whose remit is to ensure that the firm has appropriate policies and procedures that will deliver audits of the appropriate quality. The AQR’s scope of work also includes inspecting audit files of public interest entities.
The results of our past inspections are available from the Financial Reporting Council. Our third report was published in February 2015.
Our annual Transparency Report illustrates how our commitment to quality is established at the very highest level in the firm. In particular, it sets out details of our approach to engagement performance and monitoring for audit assignments and maintaining the competence of our audit partners and staff.
Our knowledge and experience are recognised in our specialist sectors, which include not for profits, pensions funds and professional practices, alongside corporate business.
Having confidence in financial information and ensuring statutory compliance is a prerequisite for any organisation and its stakeholders. In an increasingly regulated and changing environment, the firm regularly provides specialist Assurance advice.
IFRS and UK GAAP
Our audit and assurance teams include experts in both International Financial Reporting Standards (IFRS) and UK Generally Accepted Accounting Practice (UK GAAP).
Financial Reporting Standards: New UK GAAP
To assist with the transition to the new UK GAAP framework, we have produced a series of factsheets.
Financial Reporting Standards: UK GAAP Factsheets