Kudos International Network
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Become a member

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What are we looking for in a potential member of Kudos?

  • A firm that is committed to achieving a high standard of compliance with ISAs and IFRSs
  • A firm that is looking to improve and then maintain the quality of its audit work, and that understands that quality must underpin the profession
  • A strong leadership within the practice that understands that quality improvements leads to system improvements which in turn gives rise to profit improvement, as well as risk reduction
  • Firms that understand the increasing global nature of business, even at the SME level
  • Firms that understand the importance of investing in training staff

Firms interested in joining Kudos should initially contact Margaret Scott (Margaret@Kudosinternationalnetwork.com / ++44 (0) 151 625 7002) with details such as their name, address, telephone, website, e-mail details, together with the geographical area they are looking to cover with their firm, and why they are interested in joining.

Once contact has been made, one of the executive directors will email the firm to establish further details regarding the firm. Such details will include:

  • A short history of the firm
  • The structure of ownership, together with the number of owners
  • Details of the services that they provide
  • Breakdown of the major clients of the practice and the nature of the work conducted
  • Any particular specialist services conducted
  • Details of current financial performance
  • Details of any public interest audits
  • Details of any transnational audits (Click here for Definition of Transnational Audit)
  • Details of Professional Indemnity Insurance.

This information will be reviewed confidentially and the new firm's application will either be rejected or be approved for further review.

The firm will be provided at this point with the terms and conditions of membership.

We will then undertake due diligence on the firm. We will initially request that a sample of work be sent electronically to us. An executive director will then travel to visit the new firm to undertake further due diligence work and to meet with the firm. Travel and accommodation expenses will be charged to the firm. The due diligence process will involve some examination of existing audit work to ensure that the firm is producing work to an appropriate level and understands any improvements that need to be made.

The due diligence process will have three possible outcomes:

  • An offer to join Kudos International Network as full members
  • An offer to take up Associate membership of Kudos International Network; or
  • No membership offer is deemed appropriate.

What is a Kudos member firm?

A Kudos member firm is one which has agreed to perform their audit work to meet a range of stringent quality control standards set by the directors of the network. These standards relate to the quality and range of their services as well as to other issues such as their size, location and branding. Member firms agree to apply global practices on quality assurance, and comply with the standards set by the International Audit and Assurance Standards Board (IAASB) and the International Ethical Standards Board for Accountants (IESBA).

Member firms agree to participate in the network’s annual internal inspection programme which is subject to a robust full internal quality assurance review at least every three years and reviews of individual assignments annually.

What is a Kudos associated firm?

An associated firm is one which aspires to achieve full membership of Kudos, but has yet to demonstrate that it meets the quality criteria required of a full member firm.

Our sister company PCP, will be working with the associate firm to assist them to achieve the objective of full membership, which must be obtained within a five year period.

Associate firms are not members of the Kudos International Network.