ISA (NZ) for LCE
International Standard on Auditing (New Zealand) for Audits of Financial Statements of Less Complex Entities
This is a stand-alone auditing standard that is available for use when auditing less complex entities (LCEs), if the auditor determines that the entity (or group) is an LCE as set out in Part A of the standard.
Applicable for audits of financial statements (and service performance information and entity information, where relevant) for periods as indicated. Also applies to subsequent annual reporting periods until that standard is superseded by a new/amended/revised standard.
Resources, including videos are available on the IAASB’s website
Supplemental guidance for the Authority
Illustrative auditor's reports
Video resources
View the following videos on YouTube:
- Introduction to the ISA (NZ) for LCE
- Navigating the ISA (NZ) for LCE
- Determining when to use the ISA (NZ) for LCE
- Deep dive into the ISA (NZ) for LCE - video and slides
Feedback welcome
We'd love to hear from auditors as you implement the ISA (NZ) for LCE. If you have any further comments or suggestions on guidance that you would find useful, contact us.