Misstatement, as a back-end, form-driven compliance exercise. In these settings, risk assessment can be perceived as inefficient and not adding value. A 2022 survey of CPEA members conducted by the AICPA Auditing Standards Board (ASB) found that 75% of respondents believed the costs of an audit exceed the benefits for less complex entities (LCEs). Further, 73% of respondents reported that they are reluctant to scale or modify requirements in GAAS when auditing an LCE, primarily because of concerns related to peer review. Concurrently, risk assessment compliance and audit quality concerns exist, including those noted by practitioners performing peer reviews and by the AICPA Enhancing Audit Quality initiative. Standards are becoming increasingly complicated, in part reflecting the complexity of the business envi-ronment. Finally, the profession faces a workforce shortage that some have suggested is at a crisis level.