Audits of Less Complex Entities – AASB
Date recorded:
At its meeting on November 28-29, 2022, the AASB discussed issues related to this project. Key issues included: the proposed revisions to Part 6 of the draft ISA for LCE dealing with risk identification and assessment; the proposed Part 10 of ISA for LCE and proposed revisions to the Authority of ISA for LCE dealing with group audits; how the AASB will respond to the IAASB’s exposure draft of Part 10; and the possible activities the Board may undertake in its 2023-2024 Annual Plan as it works towards a solution for LCEs. The AASB will continue to discuss future activities as it develops its 2023-2024 Annual Plan.
Review the Executive Summary on the AASB's Web site.