PIE Audit Services - Public Interest Entity Audits - FRC-Authorised
Public Interest Entity (PIE) audit services authorised by the Financial Reporting Council. Expert PIE auditors providing comprehensive audits for listed companies, large private companies, and other public interest entities.
PIE Audits for UK Listed Companies
Acumon is a prominent UK Chartered Accountants practice. We are authorised by the Financial Reporting Council (FRC) to audit Public Interest Entities (PIEs) listed in the UK. Around 70% of our listed client base consists of PIEs.
Public Interest Entities face the most rigorous audit obligations in the UK, necessitating FRC authorisation and strengthened audit procedures to safeguard public interest. Our FRC authorisation confirms our ability to satisfy the enhanced audit standards and procedures needed for PIE audits, giving stakeholders confidence that our audits comply with the highest regulatory standards. Our Responsible Individual, Edmund Cartwright FCCA, holds FRC authorisation to conduct PIE audits, ensuring our PIE audit services are directed by experienced professionals with the required regulatory approvals and expertise.
Minimising PIE Audit Burden
We reduce your PIE audit workload through:
- Reducing audit communications: Utilising our purpose-built audit portal to simplify communication and document exchange during the audit engagement
- Limiting on-site presence: Conducting remote work where possible, minimising operational disruption whilst preserving audit quality and communication standards
- Applying our experience: Our broad experience auditing numerous accounts and ERP systems allows efficient, effective audit procedures compatible with your current systems
- Efficient execution: Our optimised audit processes reduce time demands on your staff and directors, concentrating on highest regulatory risk areas whilst ensuring thorough compliance checking
PIE Audit Clients
Our PIE audit portfolio includes clients listed on the London Stock Exchange (LSE). We currently provide audit services to 10 listed entities, including recognised brands such as Sharp Electronics, Linguaphone and Kuoni. This varied client portfolio showcases our ability to deliver comprehensive PIE audits for organisations across different scales and sectors, from established listed corporations to emerging businesses that meet PIE classification requirements.
Our PIE audit services are designed to meet the enhanced requirements for PIE audits, providing comprehensive assurance on financial statements, internal controls, and regulatory compliance. We understand the unique challenges facing PIEs, from complex group structures to enhanced regulatory reporting requirements, including Listing Rules and Corporate Governance Code compliance.
Our Audit Team
- Our audit team comprises experienced professionals who have previously worked at leading international accounting firms, including Big Four and other top-tier practices.
- As a full-service, mid-tier audit practice with a team of 70 professionals, we combine the resources necessary to handle complex audit requirements with the personal attention and responsiveness that comes from our focused size.
- Our primary base is in West London, with additional office locations across the UK to support our national client base.
Senior Audit Team
Our PIE audit services are delivered by a team of experienced, qualified auditors with extensive expertise in PIE auditing, enhanced audit procedures, and regulatory compliance. Our senior audit team includes partners and directors with decades of combined experience in PIE audits, ensuring that your organisation benefits from the highest levels of expertise and professionalism.
J Stuart Thomson MA CA FCT ATT MCSI
Partner
- • Chartered Accountant (ICAS & ICAEW)
- • Fellow of Corporate Treasurers
- • Member of Securities & Investments
- • Association of Tax Technicians
Edmund Cartwright FCCA, FMAAT
Partner
- • Fellow of ACCA
- • ICAEW audit authorisation
- • FRC Responsible Individual for PIE audits
Rob Wilkes FCA
Audit Director
- • 34 years of audit experience
- • UK, Ireland and Australia experience
- • Former top 5 global accounting firm experience
- • Technology, professional services, leisure, hospitality, manufacturing, wholesale and NFP sectors
- • Experienced in leading audits for listed companies, large privately owned international companies and Private Equity owned businesses
Geeta Morgan FCA CTA MSCI Prof. PgDip (GRC)
Audit Director
- • Audited States of Guernsey
- • FCA – Fellow Chartered Accountant (ICAEW)
- • CTA – Chartered Tax Advisor
- • MSCI – Member of Chartered Institute for Securities & Investments
- • Compliance and tax expertise
- • Has never lost a client due to work quality or failing to meet expectations
Madhu Babu Chennupati ACCA, FCA (India), MBA
Head of Audit Quality & Technical
- • ACCA (Association of Chartered Certified Accountants)
- • FCA (Fellow Chartered Accountant – India)
- • MBA (Finance) – Manchester Business School
- • 10 years of experience delivering high-quality audits
- • Banking, technology, retail, manufacturing, and PIE audit experience
Enhanced PIE Audit Requirements
PIE audits must comply with enhanced audit standards and procedures, including:
- Enhanced Audit Procedures: Additional audit procedures and testing requirements for PIE audits, ensuring comprehensive assurance on financial statements and internal controls
- Key Audit Matters: Reporting of key audit matters in the auditor's report, providing transparency on areas of significant audit focus
- Internal Controls Assessment: Enhanced assessment of internal controls over financial reporting, ensuring robust control environments
- Regulatory Compliance: Comprehensive assessment of compliance with Listing Rules, Corporate Governance Code, and sector-specific regulatory requirements
- Going Concern Assessment: Enhanced assessment of going concern, ensuring robust evaluation of entity viability and financial stability
- Related Party Transactions: Detailed review of related party transactions, ensuring compliance with disclosure requirements and regulatory standards
Next Step
Get in touch with our team today to discuss your PIE audit requirements. Our FRC-authorised PIE audit team will help ensure your entity's compliance with enhanced audit requirements while providing comprehensive assurance to stakeholders.
*Acumon is positioned among the leading UK accountancy firms, having been only £37k short of the top 100 in the Accountancy Age 50+50 list for 2024. Since publication, there have been significant market consolidations; Acumon has continued to grow organically and through strategic acquisitions. Our substantial client base and PIE audit license demonstrate our capability and market position.
Frequently Asked Questions
A Public Interest Entity (PIE) is an organisation that is considered to be of public interest due to its size, nature, or impact on the public. In the UK, PIEs include listed companies, banks, insurance companies, and other entities specified by the Financial Reporting Council (FRC). PIEs face enhanced audit requirements and must use FRC-authorised audit firms. Acumon is FRC-authorised to conduct PIE audits, with around 70% of our listed client base consisting of PIEs.
PIE audits must comply with enhanced audit standards and procedures, including additional audit testing, enhanced assessment of internal controls, reporting of key audit matters, and comprehensive regulatory compliance review. PIE audits require FRC authorisation and must be conducted by audit firms with the necessary regulatory approvals. Standard audits follow standard audit procedures, while PIE audits have additional requirements to safeguard public interest.
You need a PIE audit if your organisation meets PIE classification criteria, which typically includes listed companies, banks, insurance companies, and other entities specified by the FRC. If your organisation is classified as a PIE, you must use an FRC-authorised audit firm like Acumon. We can help determine if your organisation requires a PIE audit and provide the necessary services.
Enhanced PIE audit requirements include additional audit procedures and testing, enhanced assessment of internal controls over financial reporting, reporting of key audit matters in the auditor's report, comprehensive assessment of regulatory compliance including Listing Rules and Corporate Governance Code, enhanced going concern assessment, and detailed review of related party transactions. These requirements ensure comprehensive assurance and transparency for stakeholders.
We minimise PIE audit burden through efficient processes including our purpose-built audit portal for simplified communication, remote work where possible to limit on-site presence, extensive experience with various accounting systems enabling efficient procedures, and optimised audit processes that reduce time demands while ensuring thorough compliance. Our team focuses on highest regulatory risk areas whilst maintaining comprehensive coverage.
Acumon is FRC-authorised to conduct PIE audits and currently provides audit services to 10 listed entities on the London Stock Exchange, including recognised brands such as Sharp Electronics, Linguaphone and Kuoni. Around 70% of our listed client base consists of PIEs. Our audit team includes partners and directors with decades of combined experience in PIE audits, with our Responsible Individual Edmund Cartwright FCCA holding FRC authorisation to conduct PIE audits.
Still have questions? Get in touch with our team.
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