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IAASB Releases New FAQ for the ISA for LCE

The International Auditing and Assurance Standards Board (IAASB) has published a new set of Frequently Asked Questions for the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE), its standard tailored for financial audits of smaller and less complex entities. This new FAQ addresses common questions received during webinars and outreach following the standard’s publication in December 2023 and replaces a previously issued FAQ.


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