LCE Discussion Paper
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).
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.
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