The ISA for LCE is a standalone global auditing standard designed specifically for smaller and less complex businesses.
It is standalone standard that is proportionate and tailored to the specific needs of an audit of less complex entities, which makes it easier to navigate for those practitioners who support these types of engagements.
It provides the same level of assurance as an audit performed under the ISAs: reasonable assurance.
It will help maintain confidence in financial reporting and promote the consistent application of auditing standards to LCEs, which reduces the risk of jurisdictional divergence by driving consistency and comparability globally.
It recognizes the importance of smaller businesses and their specific audit needs.
For your auditing needs please reach out to support@szca.ae.
