This paper proposes a versatile perceptual audio coding method that achieves high compression ratios and is capable of low encoding/decoding delay. It accommodates a variety of source signals (including both music and speech) with different sampling rates. It is based on separating irrelevance and redundancy reductions into independent functional units. This contrasts traditional audio coding where both are integrated within the same subband decomposition. The separation allows for the independent optimization of the irrelevance and redundancy reduction units. For both reductions, we rely on adaptive filtering and predictive coding as much as possible to minimize the delay. A psycho-acoustically controlled adaptive linear filter is used for the irrelevance reduction, and the redundancy reduction is carried out by a predictive lossless coding scheme, which is termed weighted cascaded least mean squared (WCLMS) method. Experiments are carried out on a database of moderate size which cont...