AUASB Consultation Paper for Audits of Less Complex Entities – Virtual Roundtable

Tuesday, October 12, 2021

The AUASB is holding a roundtable for Australian stakeholders including audit practitioners, audit academics, professional bodies, regulators and users of the LCE auditor’s reports to gather stakeholder’s views and input to the Consultation Paper Exposure of the IAASB’s Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE); and Consideration of Possible alternative options for Australian LCE audits. It is important for the AUASB to receive the views of our Australian stakeholders so that the AUASB can have the ability to influence the direction of the final standard.   

The aim of the roundtable is to seek feedback from stakeholders on:  

• the exposure of ED ISA – LCE; and  
• the proposed options for further exploration by the AUASB to address the challenges associated with the audits of LCEs in Australia 

Since the roundtable will be for the AUASB Technical Group to hear your views on the Consultation Paper, the following is suggested ‘pre-work’: 

• Review the Consultation Paper including the IAASB Exposure Draft;  
• Review the questions on Exposure as included in Appendix 1 and 2 of the Consultation Paper; and  
• View the introductory webinar.  

The roundtable will be held as a virtual session on Tuesday 9 of November 2021 from 9.00 am - 11.30 am.  

Please register here.   

Your input is valuable to us, now is the time for the AUASB to influence the direction of the IAASB’s standard.