ABSTRACT

International Standards on Auditing (IAS) in an emerging economy function as a technical artefact of regulation and as a social practice of ways of working in an audit firm. From a perspective of policy making and jurisdiction, there seems to be some consensus on the benefits of ISAs for developing countries, building confidence and paralleling the adoption of International Financial Reporting Standards. However, issues of relevance, enforcement and fit to the local (professional) circumstances emerge at the regulatory and firm levels. The chapter questions implications of ISAs from a social, economic and political perspective, with regard to the status of accounting and audit practices in a national context.