The purpose of the APRC is to:
a) uphold the highest standards of professionalism in the audit profession by ensuring compliance with International Financial Reporting Standards (IFRSs), International Standards on Auditing (ISAs), International Standards on Quality Control (ISQC) 1, Code of Ethics for Professional Accountants, relevant pronouncements, and local legislation. This entails, amongst others, the adoption of a stringent audit certification process for Certified Auditors as well as robust audit independence programs;
b) review local standards of auditing in the country with a view to aligning them to international best practice, and to make recommendations to the Authority Board on any possible changes to the Authority regulatory regime requiring Parliamentary approval;
c) promote the reliability and credibility of financial statements and enhance the reputation of auditors in the eyes of stakeholders, the public and the business community at large; and
d) assist in the adherence to the highest standards of performing audit and related services by auditors.