Updated IFAC guide to the audit of SMEs
19 Oct 2010
The Small and Medium Practices (SMP) Committee of the International Federation of Accountants (IFAC) has published the second edition of its Guide to Using International Standards on Auditing (ISAs) in the Audit of Small- and Medium-sized Entities.
The implementation guide is intended to help practitioners understand and efficiently apply the Clarified International Standards on Auditing (ISAs), which are effective for audits of financial statements for periods beginning on or after 15 December 2009.
Click for IFAC press release (link to IFAC website). The guide may be Downloaded from IFAC's website.
