Auditors Professional Oversight Third Country Auditors

Third Country Auditors

UK law requires the registration and regulation of auditors that audit the accounts of companies from third countries that issue securities on regulated markets in the UK (“third country auditors” or “TCAs”). The system requires auditors of companies listed on UK markets to be subject to certain regulatory requirements, regardless of where the company, or auditor, is located. TCAs who are auditing companies listed in the UK  are required to register with the ‘Competent Authority’, which is the FRC. Further detail on which companies fall under this definition can be found on the Regulatory Background page.

The regulatory regime governing TCAs aims to establish a level of oversight equivalent to that required of the audits of listed companies incorporated within the UK. This is intended to enhance and safeguard public confidence in the annual and consolidated financial statements of companies listed on regulated markets in the UK that are audited by TCAs. Where TCAs are based in countries which have been deemed to provide an ‘equivalent’ standard of audit oversight to that in the UK, certain monitoring and inspection requirements are disapplied.

Further information, including the UK Register of Third Country Auditors, can be accessed below. If you have queries relating to third country auditors, please contact Siân Burgess at

On 15 January the FRC announced a consultation on the proposed Third Country Auditors (Fees) Instrument 2021, which includes an increase in the periodical fees for registered Third Country Auditors in the UK. This consultation closed on 15 March 2021 and the feedback statement can be accessed here.

Following a consultaion on the Third Country Auditors (Fees) Instrument 2020, the FRC has published a feedback statement which can be accessed here