Explore AASB’s exposure draft on identifying and assessing risks of material misstatement
In the coming weeks, the AASB is issuing an exposure draft proposing changes to Canadian Auditing Standard (CAS) 315, Identifying and Assessing Risks of Material Misstatement through Understanding the Entity and its Environment, to align with proposed changes to International Standards on Auditing (ISA) 315 (revised), with the same title.
The revisions aim to meet the following objectives:
- establish more robust requirements and detailed guidance to drive auditors to perform appropriate risk assessment procedures in a manner commensurate with the size and nature of the entity
- improve the organization and structure of the standard to promote a more effective risk assessment
The AASB adopts ISA as CAS. The AASB is not proposing any Canadian amendments to ISA 315. Consequently, the exposure draft of CAS 315, Identifying and Assessing Risks of Material Misstatement, will mirror the exposure draft of ISA 315, with the same title.
The webinar will include polling questions based on the material in the exposure draft. Have your say in the development of this standard and how it impacts your practice here in Canada.
You will learn about:
- the proposed changes to the auditing standard on identifying and assessing risks of material misstatement
- how the proposal may affect your current practice
- how you can provide input on the proposal
