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Audits of less complex entities

Jun 05, 2019
The International Auditing and Assurance Standards Board (IAASB) recently 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 IAASB welcomes input from all interested stakeholders as we chart an appropriate way forward. The consultation will remain open until 12 September 2019.

Published: 29 April 2019.

Source: The International Auditing and Assurance Standards Board.