Scribd Logo
Upload

Welcome to Scribd!

  • 174 views

    Isa 315

    Uploaded by

    Jonas Mondala
    This document provides an overview of International Standards on Auditing (ISA) 315 and 330. ISA 315 involves obtaining an understanding of the entity and its environment, including internal control, and assessing the risks of material misstatement. The auditor performs risk assessment procedures such as inquiries, analytical procedures, observation, and review of documents. ISA 330 then involves responding to the assessed risks, including designing and implementing appropriate audit procedures. Key aspects of understanding the entity involve the industry, regulatory framework, objectives, governance, and internal control components like control environment, risk assessment, control activities, information and communication, and monitoring activities.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Isa 315

    Uploaded by

    Jonas Mondala
    174 views1 page
    This document provides an overview of International Standards on Auditing (ISA) 315 and 330. ISA 315 involves obtaining an understanding of the entity and its environment, including internal control, and assessing the risks of material misstatement. The auditor performs risk assessment procedures such as inquiries, analytical procedures, observation, and review of documents. ISA 330 then involves responding to the assessed risks, including designing and implementing appropriate audit procedures. Key aspects of understanding the entity involve the industry, regulatory framework, objectives, governance, and internal control components like control environment, risk assessment, control activities, information and communication, and monitoring activities.

    Original Description:

    .

    Original Title

    ISA 315

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document provides an overview of International Standards on Auditing (ISA) 315 and 330. ISA 315 involves obtaining an understanding of the entity and its environment, including internal control, and assessing the risks of material misstatement. The auditor performs risk assessment procedures such as inquiries, analytical procedures, observation, and review of documents. ISA 330 then involves responding to the assessed risks, including designing and implementing appropriate audit procedures. Key aspects of understanding the entity involve the industry, regulatory framework, objectives, governance, and internal control components like control environment, risk assessment, control activities, information and communication, and monitoring activities.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    174 views1 page

    Isa 315

    Uploaded by

    Jonas Mondala
    This document provides an overview of International Standards on Auditing (ISA) 315 and 330. ISA 315 involves obtaining an understanding of the entity and its environment, including internal control, and assessing the risks of material misstatement. The auditor performs risk assessment procedures such as inquiries, analytical procedures, observation, and review of documents. ISA 330 then involves responding to the assessed risks, including designing and implementing appropriate audit procedures. Key aspects of understanding the entity involve the industry, regulatory framework, objectives, governance, and internal control components like control environment, risk assessment, control activities, information and communication, and monitoring activities.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 1

    122-123

    Documentation

    120-121 Communicating
    with those
    charged with
    governence

    100-119 Assessing the risk


    of material
    misstatement

    ISA 315 Obtain understanding and


    Assess risk

    ISA 315
    Risk Assessment
    1-5 Introduction

    ISA 330 Responding to assessed


    risk
    ISA 500 "Audit Evidence" Use
    asertions for assessment,futher
    procedure

    6-19 Risk Assessment


    Procedures and Source
    of Information about
    the entity and its
    Environment, including
    Internal Control

    Those chaged with governance


    Internal audit team
    Inquiries of management
    Risk assessment procedures

    Intenal or external legal council


    Others such as people
    processing,marketing etc

    Analytical procedures

    Basic overview of material risk see


    "ISA 520"

    Observation and inspection


    use of prior period information

    Review for changes

    Discussions among engagement


    team

    20-99 Understanding the


    Entity and its Environment,
    including Internal
    Control

    Industry Regulatory framework as


    well as accounting policies
    nature of the entity and its
    environment
    Objectives and strategies and
    realted business risks
    Measurement and review of
    Financial performance
    Governance and management
    ethical and
    communication/implementation
    thereof

    Control environment

    Entities risk assessment process

    Identifying risk procedures


    Record

    The information system,related


    business processes

    Process
    Review

    General vs application controls


    Internal Control (see Appendix 2)
    Manual vs Automated
    Performance reviews
    Control Activities

    Information processing
    Physical controls
    Segregation of duties
    High level autorisation non routine
    items

    Monitoring of controls
    see appendix 1 ISA 315

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy