Welcome, dear reader, to the thrilling world of audit and assurance! Put on your detective hat and prepare to unravel the mysteries of the Audit and Assurance Council (AAC)—an advisory superhero league for the fiscal universe.
The Origin Story
In 2012, when mankind needed them most, the Audit and Assurance Council was established to guide the *Financial Reporting Council. As the Jedi Masters of audit and assurance, their mission was to watch over the code and standard galaxy. But don’t give them lightsabers; their weapons of choice are purely advisory.
Council Members: No Capes, Just Codes
Unlike its predecessor, the *Auditing Practices Board, the AAC isn’t about wielding ultimate power. Nope! They’re more of the Yoda type: wise, knowledgeable, and guiding from a Socratic distance. Comprising up to twelve members—at least half of whom can’t even spell
