Printer Friendly

IAPC guidelines redesignated as standards.

The international auditing practices committee (IAPC) of the International Federation of Accountants (IFAC) redesignated its international auditing guidelines as international standards on auditing. Since 1977, the committee has produced 33 guidelines that, taken together, constitute a comprehensive set of audit and related services practice guidance.

The decision is an important step in acknowledging the IFAC and the IAPC as standard-setting bodies for international accounting.

To complement its decision, the IFAC also issued Summary of International Guidelines on Auditing and Related Services. These are the guidelines that have been designated standards. THe summary incorporates auditing pronouncements 1-29 and related services pronouncements 1-4. It also covers procedures considered mandatory in auditing and related services engagements.

In releasing the summary, Alan Talbot, IAPC Chairman, said, "Some of this represents essential procedures and the remainder really should be viewed as explanatory information. I should say, however, that reading the summary is no substitute for reading the actual pronouncements in their entirety."

To order, contact IFAC at 540 Madison Avenue, New York, New York 10022. Telephone: (212) 486-2446.
COPYRIGHT 1991 American Institute of CPA's
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Journal of Accountancy
Date:Nov 1, 1991
Previous Article:Comparing free and controlled economies.
Next Article:The postcoup Soviet Union: greater role for CPAs.

Related Articles
IAPC upgrades its auditing pronouncements, issues guidance.
IAPC issues addendum and revision to standard.
IFAC issues public sector guideline.
Guidance on assurance services.
IFAC, firms to apply international standards consistently.
Proposed Changes To Audit Reports.
A short primer on deputy under Secretary of the Air Force International Affairs.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters