IAASB Communique: Audits of Less Complex Entities

Focusing on the effective and consistent application of our standards, the IAASB is addressing issues and challenges related to complexity, understandability, scalability and proportionality. This communique details development plans for a separate standard for audits of less complex entities.

For additional information on the IAASB’s efforts to balance the needs of all its stakeholders by addressing complexity, understandability, scalability and proportionality in the International Standards on Auditing, please see its November 2020 communique.