PIE Audit

PIE audits demand FRC authorisation, an authorised Responsible Individual, mandatory engagement quality review and enhanced procedures throughout. Acumon delivers all of it — for brands including Sharp Electronics, Linguaphone and Kuoni — without the fee levels or partner-distance of the largest firms. Around 70% of our listed client base consists of PIEs.

PIE Audits for UK Listed Companies

Acumon is an FRC-authorised UK Chartered Accountants practice specialising in Public Interest Entity audits. Around 70% of our listed client base consists of PIEs, and Edmund Cartwright FCCA serves as Responsible Individual with FRC authorisation for PIE audits. For boards and audit committees seeking a credible alternative to the largest firms, we offer genuine PIE capability with senior attention on every engagement.

Minimising PIE Audit Burden

We reduce audit workload by utilising our purpose-built audit portal to simplify communication and document exchange; limiting on-site presence by working remotely where possible; applying our broad experience with accounting and ERP systems; and executing efficiently with optimised processes focused on the highest regulatory risk areas. Enhanced procedures need not mean an unmanageable audit.

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.

Senior Audit Team

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 across the UK, Ireland and Australia, former top 5 global accounting firm experience; sectors include technology, professional services, leisure, hospitality, manufacturing, wholesale and NFP; listed company, large privately-owned international, and private equity audit experience.

Geeta Morgan FCA CTA MSCI Prof. PgDip (GRC), Audit Director — audited the States of Guernsey; Fellow Chartered Accountant (ICAEW), Chartered Tax Advisor, 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, Fellow Chartered Accountant (India), MBA (Finance) from Manchester Business School; 10 years delivering high-quality audits across banking, technology, retail, manufacturing and PIE audits.

The wider team numbers 70 professionals, with staff bringing Big Four and top-tier firm experience, primarily based in West London with additional UK offices.

Enhanced PIE Audit Requirements

Enhanced audit procedures: additional testing for comprehensive assurance. Key audit matters: reporting in the auditor's report. Internal controls assessment: enhanced evaluation of control environments. Regulatory compliance: assessment of Listing Rules and Corporate Governance Code requirements. Going concern: enhanced viability evaluation. Related party transactions: detailed review and compliance verification. Independence: the FRC Ethical Standard's stricter PIE provisions, including restrictions on non-audit services and fee caps.

How We Conduct a PIE Audit

1) Pre-engagement independence and ethics review — before accepting a PIE audit engagement, we perform rigorous independence checks across our entire firm, including all partners and those in a position to influence the audit.

2) Engagement partner and quality reviewer assignment — an FRC-authorised Responsible Individual is assigned as Engagement Partner, with a separate Engagement Quality Reviewer (EQR) appointed. For PIEs, the EQR review is mandatory and occurs before the audit report is issued.

3) Enhanced risk assessment and audit planning — the PIE audit plan includes enhanced risk assessment covering fraud risks, going concern, significant accounting estimates and key audit matters.

4) Substantive audit procedures with increased scepticism — PIE audits require heightened professional scepticism, particularly around management judgements and estimates.

5) Audit committee reporting and public reporting — detailed findings are presented to the Audit Committee, and the signed audit report includes a Key Audit Matters section.

What You Get With Acumon

• FRC-authorised for Public Interest Entity audits
• Named FRC Responsible Individual: Edmund Cartwright FCCA
• Mandatory Engagement Quality Reviewer (EQR) review before the audit report is issued
• Enhanced procedures: key audit matters, internal controls, going concern, related parties
• FRC Ethical Standard independence compliance, including non-audit service restrictions
• Purpose-built audit portal and remote working to limit on-site presence
• Senior-led teams with Big Four and top-tier experience

Why Acumon for PIE Audit?

• FRC-authorised for PIE audits; Edmund Cartwright FCCA is the FRC Responsible Individual
• 10 London Stock Exchange listed entity clients including Sharp Electronics, Linguaphone and Kuoni
• Around 70% of the listed client base consists of PIEs
• Audit team of 70 professionals with Big Four and top-tier firm experience
• Only £37k short of the top 100 in the Accountancy Age 50+50 list for 2024

Get a Fixed-Fee Quote

Tell us what you need and we'll come back within one business day with a clear scope and a fixed price — no hourly-rate surprises. Call 020 8567 3451 or use the form and we'll be in touch.