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This Guide to Using ISAs in the Audits of Small- and Medium-Sized Entities was prepared by the International Federation of Accountants (IFAC) with support from This Guide was commissioned by the IFAC Small and Medium Practices (SMP) Committee to assist practitioners on the audit 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. This Implementation Guide was prepared by the Small and Medium Practices Committee of the International Federation of Accountants (IFAC). 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. See
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