Audits of Less Complex Entities

What the Project Aims to Achieve

The objective of the project is to develop a separate standard for audits of financial statements of Less Complex Entities (LCEs) to address issues and challenges related to complexity, understandability, scalability and proportionality for LCEs.

This project is also connected to the work being undertaken targeted at the complexity, understandability, scalability and proportionality (CUSP) of the ISAs more broadly. More information about the CUSP project is also available on the CUSP project page.

Project Timeline

Please note that forecasted milestones may be subject to change.

Current Status of the Project

At its June 2021 meetings, the IAASB approved the proposed standard for exposure draft.  The exposure draft was open for public consultation until January 31, 2022. The Task Force is currently evaluating the feedback received and determining next steps. 

Task Force Information

IAASB Staff Contacts

Task Force Members

LCE Reference Group

(Listed per alphabetical order of country / region)

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

Thank you for your interest in our publications. These valuable works are the product of substantial time, effort and resources, which you acknowledge by accepting the following terms of use. You may not reproduce, store, transmit in any form or by any means, with the exception of non-commercial use (e.g., professional and personal reference and research work), translate, modify or create derivative works or adaptations based on such publications, or any part thereof, without the prior written permission of IFAC.

Our reproduction and translation policies, as well as our online permission request and inquiry system, are accessible on the Permissions Information web page.

For additional information, please read our website Terms of Use. ALL RIGHTS RESERVED.