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

The proposed separate standard for LCEs was open for public consultation until January 31, 2022. Since then, the Task Force has been evaluating the feedback received from the exposure draft and related outreach activities. The Board discussed key themes from the feedback at its June 2022 meeting and has now commenced drafting of revisions in priority areas. In its September 2022 meeting, the IAASB will discuss some of these revisions and other targeted areas of feedback.    

Task Force Information

IAASB Staff Contacts

Task Force Members

LCE Reference Group

(Listed per alphabetical order of country / region)

  • Hernán 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

Project Stages


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