Auditing Practices Board

A body constituted in 1991 to replace the Auditing Practices Committee (APC). Intended to be more independent of the auditing profession than the APC, the APB has half of its members drawn from outside practice, for example from universities and the legal profession. The Board was reconstituted in 2002–03 under the chairmanship of Richard Fleck, a specialist in corporate and regulatory law. Its objective is to establish the highest standards of auditing practice in the UK and the Republic of Ireland in such a way that the developing needs of users of financial information are met and public confidence in the auditing process is maintained. It is empowered to issue Statements of Auditing Standards (SASs) in its own right, and also supplements these with the issue of Practice Notes (PN) and Bulletins (see auditing standards). The APB is part of the Financial Reporting Council

Accounting dictionary. 2014.

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  • Auditing Practices Board — The Auditing Practices Board Limited (APB) was originally established in 1991 as a committee of the Consultative Committee of Accountancy Bodies, to take responsibility within the United Kingdom and Republic of Ireland for setting standards of… …   Wikipedia

  • Auditing Practices Board — Fin a body formed in 1991 by an agreement between the six members of the Consultative Committee of Accountancy Bodies, to be responsible for developing and issuing professional auditing standards in the United Kingdom and the Republic of Ireland …   The ultimate business dictionary

  • Auditing Standards Board — In the United States, the Auditing Standards Board (ASB) is the senior technical committee designated by the American Institute of Certified Public Accountants (AICPA) to issue auditing, attestation, and quality control statements, standards and… …   Wikipedia

  • Auditing Practices Committee — APC A committee of the Consultative Committee of Accountancy Bodies set up in 1976 and replaced by the Auditing Practices Board in 1991. During the period 1980 to 1991 it was responsible for issuing two auditing standards, The Auditor s… …   Accounting dictionary

  • International Auditing Practices Committee — IAPC The predecessor of the *International Auditing and Assurance Standards Board of the *Inter national Federation of Accountants …   Auditor's dictionary

  • auditing standards — Basic principles and essential procedures with which auditors are required to comply in the conduct of any audit of financial statements. The Auditing Practices Committee issued a series of Auditing Standards between 1980 and 1991. The standards… …   Accounting dictionary

  • auditing guidelines — Documents originally issued by the former Auditing Practices Committee (APC). APC guidelines have been adopted by the Auditing Practices Board (APB), which now has the responsibility for issuing all auditing pronouncements. Guidelines are not… …   Accounting dictionary

  • auditing — ▪ accounting Introduction       examination of the records and reports of an enterprise by specialists other than those responsible for their preparation. Public auditing by independent, impartial accountants has acquired professional status and… …   Universalium

  • Statements of Auditing Standards — SAS British external *auditing standards. British SAS are issued by the *Auditing Practices Board, a subsidiary board of the *Accountancy Foundation, and they comprise the main source of *Generally Accepted Auditing Standards in the United… …   Auditor's dictionary

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