We held an online eventwith EFAA on the IAASB’s proposed auditing standard for less complex entities (LCE). The IAASB has taken a significant step and proposes a new standalone auditing standard for less complex entities. First, we heard about the objectives and the details of the proposed standard, from the IAASB’s LCE Task Force Chair and then speakers presented perspectives from a practitioner’s, user’s and regulator’s point of view. The event was made possible thanks to the support of IAASB.
Kai Morten Hagen, Chair of the IAASB LCE Task Force
Monica Stefan, Chamber of Financial Auditors (CAFR) – Romania
Burçak Inel, European Banking Federation
Mark Babington, Financial Reporting Council – UK
Salvador Marín, President, EFAA
Hilde Blomme, Deputy CEO, Accountancy Europe