Search results with tag "Assessing the risks of material misstatement"
Understanding the Entity and Its Environment and …
us.aicpa.org• Assessing the risks of material misstatement. This section provides guidance to the auditor in assessing the risks of material misstate-ment at the financial statement and relevant assertion levels. The auditor should: — Identify risks by considering the entity and its environment, in-
Understanding the Entity and Its Environment and Assessing …
us.aicpa.orgc. Determining risks of material misstatement, including significant risks Convergence The ASB has a strategic objective to converge with the International Standards on Auditing (ISAs). Accordingly, SAS No. 145 was developed using ISA 315, Identifying and Assessing the Risks of Material Misstatement (Revised 2019), as the base starting point ...
ISA 540 (Revised) and Conforming and Consequential …
www.ifac.org6. This ISA also requires a separate assessment of control risk when assessing the risks of material misstatement at the assertion level for accounting estimates. In assessing control risk, the auditor takes into account whether the auditor’s further audit procedures contemplate planned reliance on the operating effectiveness of controls.
Standard on Auditing (SA) 570 (Revised), Going Concern
kb.icai.org2 SA 315 , Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment, paragraph 5 . 4 them; or (b) If such an assessment has not yet been performed, the auditor shall discuss with