In late August, the International Auditing and Assurance Standards Board (IAASB) opened a six-month public consultation on its landmark new proposed standard for audits of financial statements of less complex entities (LCEs).
While the IAASB encourages all interested stakeholders to respond. To help, the IAASB developed a
survey to make it easier to participate in the consultation and provide your views. The survey will be open until Friday January 14, 2022.
Your survey responses will be analysed by the IAASB alongside all other feedback and help shape the final standard (individual survey responses are confidential and will not be attributed to you). This is a very important survey, in particular for the auditors of small entities. We encourage members to take the survey to have their views taken into account.
An article in this month’s
Accountancy Plus further explores the proposal.