Search results with tag "Understanding the entity and"
INTERNATIONAL STANDARD ON AUDITING 315 (REVISED ...
www.ifac.orgTHROUGH UNDERSTANDING THE ENTITY AND ITS ENVIRONMENT 879 ISA 315 (REVISED) AUDITING (b) Introduction Scope of this ISA 1. 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,
Understanding the Entity and Its Environment and Assessing ...
us.aicpa.org.17 If the entity has established a risk assessment process (referred to hereafterasthe entity'sriskassessmentprocess ),theauditorshouldobtainan understanding of it and the results thereof.If the auditor identifies risks of
Understanding the Entity and Its Environment and Assessing ...
us.aicpa.orgUnderstanding the entity’s system of internal control, in particular, relating to the auditor’s work effort to obtain the necessary understanding b. Modernizing the standard in relation to IT considerations, including addressing risks arising from an entity’s use of IT c. Determining risks of material misstatement, including significant risks