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Join the IAASB for a three-part discussion series on LinkedIn on the proposed new standard for audits of less complex entities. In the first session IAASB Chair Tom Seidenstein, IAASB Member and Less Complex Entities (LCE) Task Force Chair Kai Morten Hagen, and IAASB Deputy Director Beverley Bahlmann will address the journey to the proposed new standard, its key principles, how it compares to the existing suite of International Standards on Auditing (ISAs) and why it is important for stakeholders. The first discussion will livestream on LinkedIn on September 28 at 8 am ET.
The second livestream discussion will follow on October 20 at 8 am with IAASB Technical Director Willie Botha, IAASB Member Chun-Wee Chiew and IAASB Consultative Advisory Group Member Claes Norberg addressing on which entities the proposed standard can be used, who makes decisions regarding using the standard, and how those decisions are made. IAASB Technical Advisor and LCE Task Force Member Viviene Bauer will moderate the discussion.
The third and final livestream in this series will air on November 17 at 8 am. It will feature IAASB Member Julie Corden, LCE Reference Group Member Andrew Braithwaite, and IAASB LCE Task Force Member Brendan Murtaugh discussing what the proposed new standard means for audit firms and practitioners, including the benefits of the standard, what firms and engagement teams need to consider in decision making, and the potential impact on small- and medium-sized practices.
The IAASB strongly encourages all interested stakeholders to provide their feedback on the proposed new standalone standard for audits of less complex entities by January 31, 2022. The standard is relevant to users of financial statements, owners, management and those charged with governance of entities, preparers of financial statements, legislative or regulatory authorities, relevant local bodies with standard-setting authority, professional accountancy organizations, academics, regulators and audit oversight bodies, and auditors and audit firms, among others.
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