This paper reviews the basic aspects of auditory processing that play a role in the perception of speech. The frequency selectivity of the auditory system, as measured using masking experiments, is described and used to derive the internal representation of the spectrum (the excitation pattern) of speech sounds. The perception of timbre and distinctions in quality between vowels are related to both static and dynamic aspects of the spectra of sounds. The perception of pitch and its role in speech perception are described. Measures of the temporal resolution of the auditory system are described and a model of temporal resolution based on a sliding temporal integrator is outlined. The combined effects of frequency and temporal resolution can be modelled by calculation of the spectro-temporal excitation pattern, which gives good insight into the internal representation of speech sounds. For speech presented in quiet, the resolution of the auditory system in frequency and time usually markedly exceeds the resolution necessary for the identification or discrimination of speech sounds, which partly accounts for the robust nature of speech perception. However, for people with impaired hearing, speech perception is often much less robust.