I have found a list of the different values (Audio Data Format) at http://developer.apple.com/library/ios/#documentation/MusicAudio/Reference/CoreAudioDataTypesRef/Reference/reference.html#//apple_ref/doc/uid/TP40004488
Audio Data Format Identifiers Identifiers for audio data formats, used in the AudioStreamBasicDescription structure.
kAudioFormatLinearPCM = 'lpcm',
kAudioFormatAC3 = 'ac-3',
kAudioFormat60958AC3 = 'cac3',
kAudioFormatAppleIMA4 = 'ima4',
kAudioFormatMPEG4AAC = 'aac ',
kAudioFormatMPEG4CELP = 'celp',
kAudioFormatMPEG4HVXC = 'hvxc',
kAudioFormatMPEG4TwinVQ = 'twvq',
kAudioFormatMACE3 = 'MAC3',
kAudioFormatMACE6 = 'MAC6',
kAudioFormatULaw = 'ulaw',
kAudioFormatALaw = 'alaw',
kAudioFormatQDesign = 'QDMC',
kAudioFormatQDesign2 = 'QDM2',
kAudioFormatQUALCOMM = 'Qclp',
kAudioFormatMPEGLayer1 = '.mp1',
kAudioFormatMPEGLayer2 = '.mp2',
kAudioFormatMPEGLayer3 = '.mp3',
kAudioFormatTimeCode = 'time',
kAudioFormatMIDIStream = 'midi',
kAudioFormatParameterValueStream = 'apvs',
kAudioFormatAppleLossless = 'alac'
kAudioFormatMPEG4AAC_HE = 'aach',
kAudioFormatMPEG4AAC_LD = 'aacl',
kAudioFormatMPEG4AAC_ELD = 'aace',
kAudioFormatMPEG4AAC_HE_V2 = 'aacp',
kAudioFormatMPEG4AAC_Spatial = 'aacs',
kAudioFormatAMR = 'samr',
kAudioFormatAudible = 'AUDB',
kAudioFormatiLBC = 'ilbc',
kAudioFormatDVIIntelIMA = 0x6D730011,
kAudioFormatMicrosoftGSM = 0x6D730031,
kAudioFormatAES3 = 'aes3'
However, I dont think we can use all the formats mentioned (e.g. mp3).
Can anyone help me out with the formats that are supported for recording sound using AVAudioRecorder ?
Thanks.