What do you understand by the term "International Auditing Guidelines"? How it differs from International Auditing Standards?

A BRIEF HISTORY The groundwork for an international set of standards on auditing began back in1969 with the publication of a number of reports focusing on international auditing by the Accountants International Study Group, which compared situations in Canada, the UK and US. In the late1970s, the Council of International Federation of Accountants (IFAC) (subsequently renamed the IFAC Board in May2000) created the International Auditing Practices Committee (IAPC). Between1980 and1991 the IAPC issued International Auditing guidelines (IAG) and the first International Standards on Auditing (ISA) were issued in1991. In mid2002, as a result of a review task force set up by the IFAC Board to address the futures of ISA, the IAPC was renamed as the International Auditing and Assurance Standards Board (IAASB) and introduced changes to the processes and transparency of its work, and a widening of its membership to include non-auditors. The IAASB has now been charged with the responsibility of enhancing and expanding the worldwide use of auditing standards. Its objective is to improve the quality and uniformity of international practice by: - Issuing international standards on auditing - Issuing guidance on the application of such standards - Promoting the adoption of the Board's pronouncements as the primary source of national standards and as guidance in cross-border offerings - Promoting the endorsement of the standards by legislators and securities exchanges, and - Promoting debate with p