LCE Discussion Paper

  • Auditing

The International Auditing and Assurance Standards Board (IAASB) has now published a Discussion Paper, Audits of Less Complex Entities: Exploring Possible Options to Address the Challenges in Applying the International Standards on Auditing (ISAs).

Have a look

The IAASB seeks to further understand the challenges of using ISAs in audits of less complex entities—and views about possible actions to address these challenges. The IAASB recognises the global call for action to address issues of complexity, length, understandability, scalability, and proportionality related to using the ISAs.

Continuing the debate on these strategic issues, the Discussion Paper explores how the IAASB, and others, could further support auditors working in increasingly evolving environments.

The NZAuASB is planning outreach events to obtain feedback from New Zealand stakeholders on this very important topic.

This is your opportunity to shape the way forward for the audits of less complex entities in New Zealand.

More information about our planned outreach events will be coming soon.

You can either respond directly to the IAASB on the Discussion Paper by 12 September 2019, or you can share your views with the NZAuASB, in writing or through our planned outreach events.

Responses to the NZAuASB are required by Thursday 22 August.

Upload your submission here

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  • Upload an MS Word document (and a PDF file, if you wish); or
  • Write your comments below in the space provided.

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Please note:

  • We would appreciate receiving a copy of your comments in electronic form (preferably Microsoft Word format).  This helps us to more efficiently collate and analyse comments. Please also specify the exposure draft number and title in your electronic file. 

  • Tell us on whose behalf you are making the comments (for example on behalf of a group or an entity).

  • We intend publishing all comments on the XRB website, unless they may be defamatory. If you have any objection to this, we will not publish them. However, they will remain subject to the Official Information Act 1982 and, therefore, may be released in part or in full. The Privacy Act 1993 also applies.

  • If you have an objection to the release of any information contained in your comments, we would appreciate you identifying the parts of your comments to be withheld, and the grounds under the Official Information Act 1982 for doing so (for example, that it would be likely to unfairly prejudice the commercial position of the person providing the information).