The International Auditing and Assurance Standards Board (IAASB) is seeking to further understand the challenges in using International Standards on Auditing (ISAs) in audits of less complex entities.

Recognising the global call for action to address issues of complexity, length, understandability, scalability, and proportionality related to using the ISAs, the IAASB issued a Discussion Paper to seek views about possible actions to address these challenges. The Discussion Paper explores how the IAASB, and others, could further support auditors working in increasingly evolving environments.

The consultation is now open and IAASB welcomes input from all interested stakeholders. For further information and details of how to access the Discussion Paper, visit the IFAC website at: http://www.ifac.org/news-events/2019-04/we-re-seeking-your-view-audits-less-complex-entities

Alternatively, the IAASB also made available a short survey on Audits of Less Complex Entities. This survey is aimed at stakeholders who are not intending to respond to the Discussion Paper. Responses from the survey will contribute global insights to the IAASB’s Discussion Paper. The survey is available at this URL: https://www.surveygizmo.com/s3/4973110/Audits-of-Less-Complex-Entities-Survey

Consultations for both, the Discussion Paper and Survey, will remain open until 12 September 2019.