The aim of the guidance is “to support ICAS members acting for charities in England and Wales to understand when a charity client is entitled to audit exemption”. 

It provides an overview of the audit thresholds relevant to charities, including charitable companies, registered with the Charity Commission for England and Wales (the CCEW).  The guidance includes: 

• Audit thresholds: charities receiving an audit under the Charities Act 2011.
• Change of legal form and external scrutiny considerations.
• ICAS guidance on the audit of charitable companies.
• Independent examination.
• Cross-border charities: the England and Wales perspective. 

Excepted charities fall within the scope of the guidance.  However the guidance does not specifically address the external scrutiny requirements which apply to exempt charities. 

A press release and full guidance are available on the ICAS website.