Mazars Academy Online South Africa

ISA 315 (Revised 2019)

Technical updates on the new ISA 315 (Revised 2019) standard presented by the Quality and Risk Management Department for 2023.

This short e-learning course should be completed by all staff as indicated below.
  • Presented by: Quality and Risk Management
  • Audience: Audit senior managers, managers, assistant managers, supervisors, and seniors

What is ISA 315 (Revised 2019)

This International Standard on Auditing (ISA) deals with the auditor’s responsibility to identify and assess the risks of material misstatement in the financial statements, through understanding the entity and its environment, including the entity’s internal control.

This ISA is effective for audits of financial statements for periods beginning on or after 15 December 2022.

What is the objective of ISA 315 (Revised 2019)

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The objective of the auditor is to identify and assess the risks of material misstatement, whether due to fraud or error, at the financial statement and assertion levels, through understanding the entity and its environment, including the entity’s internal control, thereby providing a basis for designing and implementing responses to the assessed risks of material misstatement.
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Support from QRM

QRM will offer continuous training and support to the engagement teams and facilitate regular technical sessions on ISA 315 (Revised 2019).
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