The Audit and Assurance Panel is responsible for addressing matters arising from the development of policy statements and pronouncements including: Auditing standards and guidance for auditors on the audit of historical financial information, Internal audit, Other assurance engagements
The panel also undertakes proactive work on areas of audit and assurance where it has the opportunity to influence standard-setting bodies, for example, the International Auditing and Assurance Standards Board (IAASB) and the Financial Reporting Council (FRC).
In discharging its remit, the panel serves the interests of both the public and ICAS members. The public interest generally equates with the members’ interest over the longer term. On the rare occasion where there is a conflict between the public interest and that of members the public interest is paramount.
