General Auditor Requirements


Auditors must meet the qualification requirements contained in Isle of Man company law in order to be eligible for appointment as auditor of any company incorporated in the Isle of Man. The main requirements are listed in sections 14 to 14H of the Companies Act 1982 ('the Act').

The qualification requirements are linked to an auditor’s membership of a “recognised accountancy body”, which are listed in section 14F as follows:

  1. Institute of Chartered Accountants in England and Wales;
  2. Institute of Chartered Accountants of Scotland;
  3. Institute of Chartered Accountants in Ireland;
  4. Association of Chartered Certified Accountants;
  5. Chartered Institute of Public Finance and Accountancy; or
  6. Association of Authorised Public Accountants.

Audit Working Papers

From 1 November 2023, the Audit Working Papers Regulations 2023 require a predecessor auditor of a company’s financial statements to: (a) allow the successor auditor access to audit working papers and other relevant information; and (b) provide those to the successor auditor on a timely basis.

The Audit Working Papers Regulations 2023 – Guidance provides further details.

Authorisation under section 14E of the Companies Act 1982

Auditors that are not members of a “recognised accountancy body” may apply to the Isle of Man Financial Services Authority (‘the Authority’) for authorisation under section 14E of the Companies Act 1982. Authorisation under section 14E is given only in very limited circumstances.

The Authority will only consider applications where an applicant is able to demonstrate that it meets the following criteria:

  Authorisation criteria Description
1. International coverage  For example, is a member firm of a large international accounting group that includes a major firm in the British Isles. 
2.  Understanding of Isle of Man company law Is able to demonstrate sufficient understanding of Isle of Man company law and can evidence how it maintains up-to-date knowledge of this law.
3. Ability to conduct audit work in accordance with relevant international standards Is able to conduct audit work in accordance with IAS/IFRS, US GAAS/GAAP and UK GAAS/GAAP and can evidence this.

Auditors that are authorised under section 14E are usually subject to restrictions regarding which company (or companies) they may audit and who may act as a ‘Responsible Individual’ for the audit(s).

Fees payable by section 14E auditors to the Authority are specified in the Register of Section 14E Auditors Regulations 2023.

If you wish to apply for authorisation under section 14E, please email to seek further information on the application process.

Auditors of Alternative Investment Funds

There are specific requirements under the European Union ('EU') Alternative Investment Fund Managers Directive ('AIFMD') which mean that a non-EU (or non-Isle of Man) audit firm is unlikely to meet the requirements to audit an Isle of Man Alternative Investment Fund ('AIF') that is marketed into the European Economic Area ('EEA').

Note: The Authority will therefore not consider applications for authorisation under section 14E in relation to the audit of any Isle of Man AIF.


If you have any questions regarding the general auditor requirements or applications under section 14E, please contact a member of the Policy & Authorisations Division from the Contact details webpage.

Note: The information on this webpage is intended as a general guide only and must be read in conjunction with the relevant legislation. It should not be relied upon as a substitute for legal advice.