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 Also applies to subsequent annual reporting periods until that standard is superseded by a new/amended/revised standard.
Other related material
IAASB guidance and other resources
Resources, including videos are available on the IAASB’s website
- Adoption guide
- Auditor reporting
- Authority of the standard
- Basis for conclusions
- Fact sheet
- FAQs 2025
- First time implementation guide
New Zealand guidance and other resources
We’ll be adding more resources over the coming months, including New Zealand-specific guidance on auditor reporting, the authority (Part A), and explainer videos.
Our website will soon feature dedicated pages outlining auditor responsibilities under the ISA (NZ) for LCE, allowing audit reports to include a link to the applicable page.
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.