Directorate of Auditing Practices Standards shall, for the Council ―

(a) develop or liaise with relevant professional bodies on auditing and ethical standards set by it.

(b) promote auditing standards which set out the basic principles and essential procedures with which external Auditors in Nigeria are required to comply;


(c) issue guidance on the application of auditing standards in particular circumstances and industries and timely guidance on new and emerging issues;

(d) establish standards and related guidance for Accountants providing assurance services;

(e) encourage establishment of ethical standards in relation to the independence, objectivity and integrity of external auditors and those providing assurance services;

(f) play appropriate role in the development of regulations and accounting standards which affect the conduct of auditing and assurance services, both domestically and internationally;

(g) collaborate with relevant professional bodies to advance public understanding of the roles and responsibilities of external auditors and the providers of assurance services including the sponsorship of research; and

(h) perform such other duties which in the opinion of the Board are necessary or expedient to ensure the efficient performance of external Auditors.