CPA Ireland has welcomed the International Auditing and Assurance Standards Board’s public consultation on its landmark new proposed standard for audits of financial statements of less complex entities (LCEs). CPA Ireland has long advocated for proportionality and scalability in the standards used by the profession and in its outreach programme with its membership, identified a need for a set of high-quality standards tailored for the audits of LCEs. CPA Ireland considers that the development of a global solution is in the public interest to secure consistency of approach to the audits of LCEs.
To view CPA Ireland’s response to the consultation please click here.