Over a two year period of consultation the APC received more than 1,500 pages of responses from 240 sources (‘Will Audit Standards Standardise Audits?’, The Accountant, 24 April 1980). The auditing guidelines were intended to suggest applications of the standards in particular cases. The standards and guidelines were conceived as a codification of existing best practice. The APC published a draft auditing standards booklet (see online catalogue entry) on with an explanatory foreword, three auditing standards and seven auditing guidelines. To provide a framework of practice for the exercise of an auditor's individual judgement, by proposing for the approval of the Councils of the governing bodies statements of explanation and guidance on auditing, and definitive statements of auditing standards. The Auditing Practices Committee (APC) was established by the Consultative Committee of Accountancy Bodies (CCAB) in March 1976 to formalise the existing co-operation of the CCAB bodies on audit practices.Īt the time of its establishment the role of the Auditing Practices Committee was defined as: For information on where you can find online editions of current standards please see Sources for finding UK auditing standards 1976 GENERALLY ACCEPTED AUDITING STANDARDS PROFESSIONALPrior to this time, auditing guidance was published by the professional bodies (for example, the ICAEW published statements on auditing and reporting in the Members' Handbook).Īll links in the timeline below show you our holdings of the material referred to. The timeline below provides a brief overview of developments since 1976. History and development of UK auditing standards
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