What according to you are more important for conducting audit? Accounting Standards or Auditing Standards?

Both are significant to the audit.

1. The Auditing Standards need to be adhered to in order to perform the audit properly and it guides the auditor in processes and procdures.

2. The Accounting Standards are important because the auditor needs to understand the underlying legislation in order to determine procedures and from an opinion on whether the legislation has been followed.

Professional accountants should be aware of and consider practice statements applicable to the engagement. A  professional accountant who does not consider and apply the guidenace included in a relevant practice statement should be prepared to explain how the basic principles and essential procedures in  the IAASB's Engagement standards addressed by the practice statement have been complied with.

One of the requirements of ISA seven hundred the auditor must specifically mention in his report that the audit has been carried out in  accordance with approved audit standards.However, the auditor should not neglect the accounting standards.

So for conducting the audit the Auditing standards are significant.