In the South African Chartered Accountant's Handbook, the following statement appears: The term "Auditing Principles and Standards" appears to connote or to suggest one proposition and it is perhaps unnecessary to attribute separate meanings to each word. As a general statement, however, it may be said that principles are the underlying concepts which govern or should govern the auditor at all times irrespective of particular circumstances, and are the basic truths and personal codes of conduct inherent in all persons engaged in honourable work. Standards, on the other hand, are a general rule of measurement. If these are set up by and with the consent of a professional body, there is implied that a minimum standard of performance is being attempted. Compare the American usage of the terms "principles" and "standards" with the South African interpretations above.