Audits of Less Complex Entities
The objective of this initiative is to explore possible actions to address perceived issues when undertaking audits of less complex entities for further IAASB consideration.
The IAASB discussed a project proposal to undertake work to develop a Discussion Paper to obtain stakeholder views on matters related to issues and challenges when auditing less complex entities, as well as presenting possible actions for the IAASB to address these issues and challenges.
The Board strongly supported work in this area, in particular to further understand the issues and challenges that have been identified and develop appropriate responses to address them. It is expected that the Discussion Paper will be presented for discussion by the IAASB at its March 2019 meeting.