ACCA AAA ^INT Syllabus A. Regulatory Environment - The Need for Standards and Regulations - Notes ^{1 / 3}

These 'regulations' come in 4 ways

1. Ethics

2. Standards

3. Regulations

4. Statutory

The international regulatory framework for audit and assurance services encompasses:

• International Federation of Accountants (IFAC) pronouncements

  This is made up of the accountancy bodies such as ACCA & CIMA etc

• Corporate Governance

Other Boards

• IAASB
  International Auditing & Assurance Standards Board

  These develop ISAs but they must be in the public interest so are overseen by.

• PIOB
  Public Interest Oversights Board
  

  Their role is to make sure everything is in the public interest and not just in the interest of the auditor

• IESB
  International Ethics Standards Board
  

  Their role is to create an ethics code of conduct for all auditors to follow