The Auditing Practices Board (APB), which is part of the Financial Reporting Council (FRC), prepares for use within the United Kingdom and the Republic of Ireland:
Standards and guidance for auditing;
Standards and guidance for reviews of interim financial information performed by the auditor of the entity;
Standards and guidance for the work of reporting accountants in connection with investment circulars; and
Standards and guidance for auditors' and reporting accountant's integrity, objectivity and independence
with the objective of enhancing public confidence in the audit process and the quality and relevance of audit services in the public interest.
The APB comprises individuals who are not eligible for appointment as company auditors, as well as those who are so eligible. Those who are eligible for appointment as company auditors may not exceed 40% of the APB by number.
Neither the APB nor the FRC accepts any liability to any party for any loss, damage or costs howsoever arising, whether directly or indirectly, whether in contract, tort or otherwise from any action or decision taken (or not taken) as a result of any person relying on or otherwise using this document or arising from any omission from it.
