This publication is an update to the IESBA Staff's Questions and Answers (Q&As) publication, originally published in March 2023, on the revisions to the definitions of listed entity and public interest entity (PIE) in the IESBA Code of Ethics.

This guidance on the application of the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities, known as the ISA for LCE, will help users in determining the appropriate situations to use the standard.

Meant to be read with the ISA for LCE, this supplemental guidance provides assistance for auditors about modifications to the auditor’s report when using the ISA for LCE. It also includes information on using emphasis of matter and other matter paragraphs, reporting on other information, and reporting on a material uncertainty related to going concern.