The International Federation of Accountants (IFAC) submitted a comment letter to highlight the importance of the issues covered in The International Auditing and Assurance Standards Board’s (IAASB) Discussion Paper, Audits of Less Complex Entities.
Notwithstanding significant efforts by many stakeholders, including the IAASB and IFAC, concerns remain about the application of international standards on auditing to less complex entities.
Click here to access the Audits of Less Complex Entities discussion paper.
IFAC strongly encourages all stakeholders to respond directly to the Discussion Paper by 12 September 2019.
Source: IFAC
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