IAASB focuses spotlight on audits of less complex entities

Released 29 July 2019

The Board is requesting views globally, and is requesting comments be received by 12 September 2019.

The initial Discussion Paper, Audits of Less Complex Entities was released on 29 April 2019, in an attempt to ‘understand the challenges of using ISAs in audits of less complex entities’ and requested ‘views about possible actions to address these challenges’.

The IAASB has also released three special webinars in English, Spanish and French which also look at the challenges in detail, and review some of the possible solutions.

The comment window closes on 12 September 2019. A Croner-i eCPD® module recently looked at these proposals and some of the challenges faced.

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