Audit malých a středních podniků z pohledu nového auditorského standardu pro LCE

The diploma thesis describes new international standard proposed by IAASB for less complex entities. The first chapter pays attention to obligations and regulation of audit not only in the Czech Republic but also in neighboring countries. The second chapter deals with the definitions of “small and medium-sized enterprise” and “less complex entity”. The third chapter deals with the standard itself, its preparation, specifics, application possibilities and differences from International Standards on Auditing. The practical part examines the importance of annual report for small and medium-sized enterprises on the selected example of companies. Furthermore, the research focuses on assessing the possible impact on the credibility of the audit from the perspective of an external user during the application of the standard for less complex entities.