Has your firm started implementing ISA (NZ) for Less Complex Entities (LCE)?

As part of the XRB's ongoing monitoring of the implementation of the standard, they are keen to hear from firms that are currently using, or have begun implementing, ISA (NZ) for LCE. They are interested in understanding where firms are on their implementation journey and early experiences, observations, challenges or lessons learned that they may be willing to share.

 

To support this work, they are holding a target workshop with a small group of stakeholders who have practical experience implementing the standard. The workshop would provide an opportunity for participants to discuss their experiences, share insights, and learn from one another. 

 

They are holding the session on:

Wednesday 23 September 2026 - 9.00am - 11.30am (online only)

They are currently seeking expressions of interest from firms that would be interested in participating.

The workshop would also provide an opportunity to discuss the XRB's current consultation on proposed amendments to ISA (NZ) for LCE. The consultation proposes changes to enable auditors to use control reports from service organisations as audit evidence in certain circumstances, as well as updates arising from recent revisions to the full ISAs. Further information is available on the consultation here.

 

We will be attending and taking notes on specifically how the Audit Assistant LCE templates are being used.

 

If your firm has commenced implementation of ISA (NZ) of LCE and would be interested in participating, please email assurance@xrb.govt.nz