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SA 315

Requires the auditor to identify and assess the risks of material misstatement through understanding the entity, its environment, and its internal control.

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Related terms

  • SA 250

    Governs the auditor's consideration of laws and regulations in an audit, distinguishing those with a direct effect on the financial statements from others.

  • SA 300

    The Standard on planning an audit of financial statements — establishing the overall strategy and a detailed plan before fieldwork starts.

  • SA 320

    Governs materiality in planning and performing an audit — the threshold set at the planning stage that drives the nature and extent of procedures.

  • SA 330

    The auditor's responses to assessed risks — linking the procedures actually performed back to the risks identified under SA 315.

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231 terms in total, or go deeper with working procedures and worked examples in the resource library.

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