Audits of Less Complex Entities - AASB

Date recorded:

At its meeting on November 30/December 1, 2020, the AASB provided input to the IAASB members from Canada on the IAASB Working Group’s project proposal to develop a separate standard for audits of less complex entities; and specific considerations related to developing a separate standard. Key issues discussed included: (i) the public interest issues and project objectives related to developing a separate standard; (ii) how to apply a separate standard; and (iii) the circumstances that the separate standard should (and should not) cover.

Review the Executive Summary on the AASB's Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.