Some firms need to appoint an auditor to do an external audit. Read more about the external audit requirements for firms that are not PRA-regulated.
The rules related to audit requirements can be found in SUP 3 of the FCA Handbook, which firms should refer to for the detailed requirements.
You must appoint an auditor to do an annual external audit on your accounts if you are required to do so under another statutory provision (e.g. under the Companies Act).
You will also be required to appoint an auditor if your firm is a collective portfolio management firm that is a UCITS firm or an internally managed AIF, or a MiFID investment firm that is a sole trader or partnership.
In addition, you are required to appoint an auditor if your firm holds client money or safe custody assets and falls within a category listed in SUP 3.1.2R[1].
More information about external audit requirements relevant to particular categories of firm is set out in the other pages in this section.