- 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 prescriptive, but they give guidance as to the methods of applying auditing standards. Auditors could be asked to explain any departures from the guidelines if their failure to follow auditing standards is being investigated. Guidelines are generally grouped into three areas: industry-specific, detailed operational, and reporting guidelines.
Accounting dictionary. 2014.
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