The International Auditing and Assurance Standards Board (IAASB) has released a first-time implementation guide for its International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE).

The new guide, announced Mar. 27, complements the IAASB’s adoption guide published last September and is designed to support auditors working with smaller, less complex entities. 

According to Accounting Today, the guide provides a structured overview of the ISA for LCE’s concepts and format along with practical insights examples and comparisons to traditional ISAs.

These tools aim to help practitioners implement the standard efficiently and with confidence. Additional resources, including videos, webinars and guidance on auditor reporting, are available on the IAASB’s website. 

On the parallel track, the International Sustainability Board (ISSB) and the IFRS Foundation launched the Jurisdictional Roadmap Development Tool. This interactive tool helps global jurisdictions plan for adoption or integration of the ISSB’s sustainability disclosure standards. 

ISSB Chair Emmanuel Faber emphasized the importance of the new tool: “It equips regulators to make informed decisions about their approach toward adoption or other use of ISSB standards.”