Two of the main legislations affected in this regard included the Companies Act and the European Commission Directives (EC Directives). These two are said to have a great influence on the formation and implementation of financial standards. This is because they are made in accordance with the salient features included in these legislations. In these, the Companies Act 1985 includes the statutory duties performed by auditors. This ensures that auditors work in accordance with the law when implementing the financial standard and therefore produce the most appropriate and meaningful results through