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.


Task Force


(Listed per alphabetical order of country / region)

  • HernĂ¡n Pablo Casinelli, Argentina 
  • Andrew Braithwaite, Barbados
  • Gordon Cummings, Canada
  • Chrystelle Richard, France
  • Tobias Polka, Germany
  • Sarah Coulson, Global
  • Mark Edmondson, Global
  • Selene Ho, Hong Kong
  • Nilesh Vikamsey, India
  • Kasumaningsih Angkawidjaja (Ningsih), Indonesia
  • Asmaa Resmouki, Morocco
  • Craig Fisher, New Zealand 
  • Kwunjai Kiatgungwalgri, Thailand 
  • Daniel Stephane Boutin, United Arab Emirates 
  • Khalid Ahmed Hamid, United Kingdom

Project Stages

Board Papers

September 2018 March 2019 December 2019 March 2020 (Papers) April 2020 (Recording) June 2020 December 2020

Board Minutes

September 2018 March 2019 December 2019 March and April 2020 June 2020 September 2020

CAG Papers

September 2018 March 2019 March 2020

CAG Minutes

September 2018 March 2019

Issued Document

Discussion Paper: Audits of Less Complex Entities Feedback Statement and Way Forward - Audits of Less Complex Entities LCE Communique: Developing a Separate Standard for Audits of Less Complex Entities Project Proposal



The Board discussed and approved a project proposal for the development of a separate standard for audits of financial statements of LCEs and discussed targeted matters related to the initial working draft of the standard.

In addition to the broad support for excluding listed entities from the scope of the audit standard for LCEs and for the flow and structure of the standard, the Board provided further inputs on various considerations related to the applicability of the standard and other key aspects relevant to further progressing the development of the standard. The Board recognized the significant outreach undertaken to date by the LCE Working Group, including with the LCE Reference Group, and encouraged this interaction to continue as the development of the audit standard for LCEs progresses to ensure that the proposals developed are usable and meet stakeholder expectations.

The LCE Task Force will continue its development work and present a revised draft of the proposed audit standard for LCEs to the IAASB for discussion at the March 2021 IAASB meeting.


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