Audits of Less Complex Entities - AASB

Date recorded:

At its meeting on April 5, 2023, the AASB reviewed a draft of its response letter to the IAASB’s Exposure Draft on Proposed Part 10, Audits of Group Financial Statements. Key issues discussed included: the IAASB’s proposal to allow the use of the LCE standard for certain group audits; certain wording in the proposed Authority; and the level of engagement achieved with interested and affected parties, as outlined in the outreach plan for the project. The AASB will submit its response in advance of the IAASB’s deadline on May 2, 2023.

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

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