This ICAEW guidance aims to address any expectation gaps around assurance in the pension schemes sector. In particular, it looks at how internal and external audit can play a part in the governance of UK pension arrangements.
What can assurance cover?
Where businesses or stakeholders identify a particular need to build confidence in information and reinforce relationships of trust, assurance can play a valuable role. Statutory audit is by far the best known and most widely practiced of this kind of service, but it is far from being the only option. Find out here what options are available.
ICAEW’s guidance provides a flexible framework for both internal and external assurance on banking regulatory ratios.
Many organisations that are exempt from mandatory audits seek independent assurance of their financial statements. There are a range of services available including: accounts preparation; agreed-upon procedures and assurance reviews.
ICAEW’s guidance to assist assurance practitioners engaged to perform work on submission to, or compilation of, benchmarks, indices and independent price reports.
This guidance, Technical Release ITF 01/07: Assurance reports on the outsourced provision of information services and information processing service, was issued by the Information Technology Faculty of the ICAEW.
Assurance reports on internal controls of service organisations made available to third parties (TECH 01/20 AAF)
Assurance reports on internal controls of service organisations available to third parties (TECH 01/20 AAF) is a Technical Release published by ICAEW’s Audit and Assurance Faculty.
Investigative services are not assurance within the meaning of the Assurance Framework and should not result in provision of a formal assurance conclusion in accordance with assurance standards.
Assurance can be provided on information that is entirely non-financial and ICAEW provides practical guidance on the opportunities and challenges offered by such engagements.
Guidance on the performance of assurance engagements on governance control activities established by trustees of Master Trusts.
What are the key issues around the assurance of sustainability information?
Internal audits offer organisations the opportunity to examine a wide range of business activities, both financial and non-financial, such as information security, corporate governance and social responsibility. Internal audits require many of the same skills and knowledge of external audits, but are also subject to unique pressures reflective of working within the organisation being examined.
The Audit and Assurance Faculty and ICAEW's Internal Audit Panel has collated a range of resources to support the provision of effective internal audits, including links to professional standards and guidance, and a series of insightful discussions on the challenges and opportunities internal auditors face.