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Sophie Campkin, ICAEW’s Technical Lead, Audit and Assurance, is joined by a panel of experts to discuss Less Complex Entity (LCE) audits.

There’s been a lot of talk about LCE audits recently and that’s because the international auditing standard-setter, the IAASB, recently issued an exposure draft for a standard for LCE audits.

This is major progress. The exposure draft issued is far from perfect, but the fact that it has been issued is a cause for celebration. ICAEW has been a robust supporter of less complex auditing standards for the audit of LCEs for many years.

The issue of an exposure draft is the start of a journey. There are significant technical issues to address before we even think about the potential for adoption and it is important to remember for now that the exposure draft has been issued by the international standard setter, the IAASB – and not by the Financial Reporting Council in the UK.

Today’s podcast panel is well versed in all the issues.

We'd really like to hear your thoughts on this topic. Please email katharine.bagshaw@icaew.com to share your experience and opinions.

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Sophie Campkin, ICAEW Technical Lead, Audit and Assurance


  • Fiona Wilkinson. Fiona was President of ICAEW from 2019 to 2020 and is a Board member of the International Federation of Accountants, and Chair of its Public Policy and Regulatory Advisory Group. She has been a member of the ICAEW’s Council since 2003 and has also served as chair of the Professional Standards Board, an ICAEW Board Director and chair of the Ethics Advisory Committee. She qualified as an ICAEW Chartered Accountant in 1980 with Deloitte and spent 11 years in the firm’s Audit Department before setting up her own practice as a technical consultant providing engagement quality control reviews and audit compliance reviews for small and medium-sized firms.
  • Catherine Hardinge. Catherine is a partner with Price Bailey. She joined the firm in 2003, having qualified with EY. She’s the firm’s compliance partner, chair of ICAEW’s LCE Audits Working Group, a member of ICAEW’s main auditing committee and an ICAEW Board member for Education and Training.
  • Katharine Bagshaw. Katharine is a long-standing staff member with ICAEW’s Audit and Assurance Faculty. She qualified in 1990 with EY and is a former member and deputy chair of IFAC’s SMP Committee. She’s Secretary to ICAEW’s LCE Audits Working Group.


Natalie Chisholm

Episode published: 8 October 2021
Podcast recorded: 4 October 2021

All views expressed on this podcast are those of the contributors and don’t necessarily reflect those of ICAEW or its members.

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