Auditors of smaller companies to get help
International Federation of Accountants to develop guidelines for auditing smaller companies
The International Federation of Accountants is looking for help in developing
guidelines for those using International Standards on Auditing for small
companies.
The body, which developed the standards, is seeking external proposals for
the creation of an explanatory guide to help auditors around the world
understand, comply with and apply ISAs when conducting audits of smaller
companies.
In the UK, the standards came in for fierce criticism for placing unnecessary
burdens on SMEs, despite some concessions being introduced later by the Auditing
Practices Board.