The LCE standard,
already built into
your audit file.
A purpose-built solution for audits of less complex entities. Work with confidence knowing you meet the requirements of the Standard. Unlock efficiencies and reduced complexity the Standard was designed to deliver.
Trusted by New Zealand auditors since 2009 · SOC 2-aligned · ISA for LCE ready
The biggest shift in auditing in over a decade
One standard
All requirements, one place
Proportionate
Scaled to the entity
Global
Adopted jurisdiction by jurisdiction
Ready today
Built into Audit Assistant
What you need to know about the LCE standard
The biggest change to auditing in over a decade, in plain terms. Pick a topic to see what it means for your firm and your clients.
A standard of its own
The ISA for LCE is a complete, standalone auditing standard. The IAASB issued it in December 2023 after years of consultation. Rather than working across the full suite of International Standards on Auditing, the auditor has every requirement for a less complex engagement in one place, tailored for the complexity of the job.
For an auditor that means far less to wade through. The requirements, the application material and the auditor's report are all set out for a less complex engagement, so your team is not searching the full ISAs and hoping nothing was missed. It is the same destination, reached by a shorter and clearer road.
- Issued by the IAASB, December 2023
- Self-contained — no cross-referencing the full ISAs
- Tailored for less complex entities
Built for LCE audits. Designed for efficiency.
Audit Assistant is the documentation platform auditors have trusted since 2009 — now with a solution tailored for LCE audits.
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Ready on day one
LCE templates and checklists
A full set of working papers mapped to the ISA for LCE requirements, with the Part A eligibility assessment built in. Your team starts a compliant engagement immediately.
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Scaled to the entity
A proportionate workflow
The file carries the standard’s structure, so the work scales to the entity. The focus stays on the identified risks, and the steps that do not apply simply are not there.
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Your whole team in one file
Real-time collaboration
Auditors, reviewers and clients work the same engagement at the same time. Review notes, key issues, follow-ups and sign-off live in one place, not a chain of emailed spreadsheets.
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Audit with confidence
Current with the standard
Pages hyperlink back to the underlying requirements in the standard itself, kept up-to-date for any changes.
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Next year starts here
Annual rollover
Roll an engagement forward and keep what matters. The trial balance and prior-year items carry over, conclusions clear, and a full PDF of the file is created. Next year starts where this one finished.
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SOC 2-aligned, people on hand
Security & support
Encrypted data and attachments, multi-factor login and full monitoring, trusted with auditors’ files since 2009. Plus a real helpdesk: onboarding, training and a file-review service from a team that knows the standard.
Where the ISA for LCE is in play
One international standard, adopted jurisdiction by jurisdiction. Pick a market to see who sets the standard there, where it stands, and how Audit Assistant gets you running.
New Zealand
Standard-setter · External Reporting Board (XRB)
New Zealand was an early mover. The XRB has issued the ISA (NZ) for LCE, so firms here can run less complex audits under the standard today. Audit Assistant is a New Zealand product, and our templates are built around the ISA (NZ) for LCE.
Wherever it applies, Audit Assistant gives your team the templates, checklists and workflow to run it from day one, no methodology to build first.
- Working papers mapped to the ISA for LCE
- The Part A eligibility assessment built into the file
- Ready for the standard today
- Document your LCE engagement in one secure file
Adoption and timing are decided by each jurisdiction’s standard-setter, and this list keeps moving. Talk to us about your requirements.
LCE audit questions, answered
An LCE audit is an audit done under the ISA for LCE, the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities. It’s a standalone global standard, and it gives the same reasonable assurance as a full-ISA audit using requirements scaled to the size and simplicity of the entity.
The IAASB issued the ISA for LCE in December 2023. It’s a self-contained auditing standard for smaller, less complex businesses, with every requirement for the engagement in one place instead of spread across the full suite of International Standards on Auditing.
The ISA (NZ) for LCE is New Zealand’s version of the standard, issued by the External Reporting Board (XRB). Auditors can use it once they’ve determined the entity (or group) is a less complex entity under Part A. Our LCE templates are aligned to it.
It comes down to the qualitative characteristics in Part A, plus any quantitative thresholds or prohibitions your jurisdiction sets. Listed entities and certain higher-risk entities are out. Audit Assistant walks you through the eligibility check and records it in the file.
Yes. The templates, checklists and workflow are built and ready, so firms picking up the standard can start a compliant engagement right away instead of building a methodology from scratch.
Yes. It’s a single global standard from the IAASB, meant to be used anywhere. Each jurisdiction adopts, permits or adapts it through its own standard-setter, which gives firms working across borders a common base to build on.
