Are auditing standards meeting the needs of auditors of SMEs?

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Mar 02, 2017

On March 2, 2017, CPA Canada released a blog by Eric Turner where he discusses that with audit quality high on the agenda for the profession, standard-setters are now paying close attention to improvements required to the existing one-size-fits-all standards approach for SME audits.

While global standard-setters work to strengthen standards in response to concerns about audit quality, commonly raised questions are: Will standards remain fit for purpose for audits of small and medium-sized entities (SMEs)? Many auditors find auditing standards are difficult to apply to the audits of SMEs. Is relief in sight?

Review the blog on the CPA Canada's website.

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