The Third Edition of this successful text includes extensive changes, based on feedback from students and lecturers. There is a discussion of auditing and the law beyond the issue of third-party liability; and more coverage of recent developments in audit methodologies and techniques. New chapters include a survey of developments in audit automation, a discussion of the nature and development of the audit market, both in the United Kingdom and the European Union, and an assessment of the impact on auditing of the Cadbury Report on corporate governance, with particular attention to the role of audit committees. Each chapter includes questions for discussion.

The Auditing Practices Board and Auditing Standards in the UK

The Auditing Practices Board and Auditing Standards in the UK

The auditing practices board and auditing standards in the UK


In the context of UK auditing, much has changed since the last edition of this book. The organizational structure for developing and publishing auditing standards has changed. The Auditing Practices Board (APB), first established in 1991, has taken over from the former Auditing Practices Committee (APC). The APB's auditing standards now appear in a different format and their coverage is more comprehensive than the pronouncements which they replace; this change reflects the increasing extent of regulation over the auditing profession.

The purpose of this chapter is to present an analysis of the standard-setting regime in the UK. The chapter begins with a consideration of the role of ...

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