There are also changes for sole practices handling audit business requiring the appointment of an alternative audit firm to protect clients in the event of a senior staff member becoming unable to work.

The amendments to the Joint UK Audit Regulations have been confirmed by ICAEW and are due to come into force from 1 June 2025.

The key changes include a requirement for swift notification of any new contracts to handle ‘potentially complex or risky audits’; and a requirement for sole practices to appoint an alternate audit firm if a senior partner named as the responsible individual at the firm becomes ill and unable to work.

From June, registered audit firms will have to notify ICAEW within 21 business days of being appointed as auditors for certain entities, deemed as high risk, and also where a registered audit firm continues as auditor, but the entity meets criteria that were not previously met.