Should there be a cut down version of auditing standards for auditors dealing with simple entities?

There is a project that is somewhat controversial in auditing circles about the best way to deal with complicated guidance. An international body called the International Auditing and Assurance Standards Board is in the midst of considering whether a 'mini me' auditing standard for people dealing with what are commonly called less complex entities is a good idea. Professor Roger Simnett, the chairman of the Auditing and Assurance Standards Board, explores the issues with Tom Ravlic . What might this mean for Australia? Listen in. Hosted on Acast. See acast.com/privacy for more information.