ISA 315 (Revised 2019) Webinar Recording

Welcome to “ISA 315 (Revised 2019)” Course Page!

Explore the dynamic world of auditing standards with our exclusive course, “ISA 315 (Revised 2019) Webinar Recording.” This course presents a comprehensive understanding of the revised standard that has reshaped risk assessment practices. Originally presented as a live webinar, this course allows you to access the recording, delve into key concepts, and apply them in your professional journey. Watch the webinar, take the quiz, and earn a certificate of completion to showcase your expertise. Stay ahead in the auditing landscape by investing in your growth with this on-demand course.

Invest in your professional development today. Enroll now and unlock the power of ISA 315 (Revised 2019) for enhanced risk assessment.

Overview:

Many auditors assume that ISA 315 (Revised 2019) is, in most instances, the same as the existing standard, but this is not the case. This new standard, which has come into effect for audits of financial statements for periods beginning on or after 15 December 2021, not only expands on concepts in the existing standards, but also introduces new concepts in the risk assessment process. New concepts such as “relevant assertions” and “significant classes of transactions, account balances or disclosures” explain the way auditors should consider and respond to the risk of material misstatement. It is critical for auditors to understand the concepts addressed in this new standard, and to amend their existing risk assessment processes and methodologies accordingly.

This training will give participants a practical understanding of key requirements relating to ISA 315 (Revised 2019), how to implement them during the audit, and appropriate documentation in audit working papers.

Content and outline:

To explain the following concepts and demonstrate their practical application:

• Key concepts and requirements from ISA 315 (Revised 2019), addressing evidence, bias, business knowledge, governance and control system components
• Controls as part of risk assessment
• Relevant assertions
• Significant classes of transactions, account balances or disclosures
• Material classes of transactions, account balances or disclosures that are not significant
• Discussing the correct implementation of requirements in audit working papers.

Certification:

Upon completion of the training, participants will receive a verifiable attendance certificate.