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Guide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities

Fourth Edition
| Guidance & Support Tools
In progress Translation:

Small- and medium-sized practices require practical support when implementing the International Standards on Auditing in audits of small- and medium-sized entities. This Guide helps firms efficiently and proportionally apply the ISAs on SME audits and is designed for use by all practitioners.

Now in its fourth edition, the Guide has been updated to reflect changes to the ISAs since previous editions, including International Auditing and Assurance Standards Board (IAASB) projects on auditor reporting, disclosures, auditor responsibilities relating to other information and using the work of internal auditors.

Volume 1 covers the fundamental concepts of a risk-based audit in conformance with the ISAs. Volume 2 contains practical guidance on performing SME audits, including two illustrative case studies—one of an SME audit and one of a micro-entity audit.

Note these guides pre-date the IAASB's International Standard on Auditing 540 (Revised) and ISA 315 (Revised 2019).

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