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.
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Sophie Campkin, ICAEW Technical Lead, Audit and Assurance
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.