 The Association of Authorised Public Accountants (AAPA) has the status of RSB, historically under a grandfather clause in order to supervise individuals who had been authorised for audit purposes under the Companies Act 1948.RQBs and RSBs are self-regulated but monitored by the Professional Oversight Board (POB), part of the Financial Reporting Council (FRC), to support public confidence.Under the European Union's Mutual Recognition Directive, all British accountants with practising rights and belonging to a RQB/RSB can practice as a public accountants in all member countries of the European Union, European Economic Area and Switzerland, providing that they are citizens of one of these states.