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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Discuss the reasons and mechanisms for the regulation of auditors
Does this answer compy for this above question:
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Auditors are regulated by:
1) Professional bodies like ACCA
2) International bodies Like IFAC
3) National bodies like FRC
These are organisations – not the mechanisms. The mechanisms are:
– statue (i.e. through legislation)
– licensing requirements (i.e. practice certificate)
– competence requirements (professional qualification and CPD)
– professional conduct rules (code of ethics)
– auditing standards
– disciplinary procedures.