[Less Complex Entities (LCE) Standard: A Panacea for A Cost-Effective Audit?]

Less Complex Entities (LCE) is a term that shows an understanding of focusing on the complexity of an entity rather than its entities’ size. Since core requirements are clearer when the nature and circumstances of the entity and audit engagement are less complex, auditors of LCE may be focusing more effort on performing appropriate procedures that more effectively target the risks of material misstatement. LCE standards also would lead an auditor to provide a more valuable service to their clients.

Click on the link below for more information on the use of LCE standard:

https://www.at-mia.my/2021/12/15/less-complex-entities-lce-standard-a-panacea-for-a-cost-effective-audit/

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