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ASK KSA Square
KSA Course Headers-2
Current Status
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Price
$120.00
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Overview

CAS 315 is the standard that requires an auditor to identify and assess the risk of material misstatement. It is a fundamental standard in performing audits, however, auditors often face challenges in its application. There are many required procedures but many times auditors don’t know what is required, why they are performing certain procedures or how to execute them.

This course will help auditors gain a deeper understanding of the requirements of CAS 315. By investing time to properly perform risk assessment procedures to identify and assess the risk of material misstatement, auditors will streamline their engagements for greater efficiency. 

Through an exploration of the standards, illustrative examples and guidance on practical application will strengthen your ability to conduct effective and efficient engagements.

Verifiable CPD
1.5 hours

Learning Objectives
By the end of the session participants will be able to:

  • Gain a comprehensive understanding of CAS 315 requirements
  • Understand required risk assessment procedures
  • Identify classes of transactions, account balances and disclosures
  • Understand the components of a system of internal control and develop a practical approach to documentation
  • Appreciate what is meant by the IT environment including IT applications, IT infrastructure, IT processes and general information technology controls (GITCs)
  • Differentiate between the concepts of understand and evaluate, and design and implementation
  • Establish an efficient strategy to document and conclude on risk assessments including inherent risk and control risk 
  • Apply the requirements of the standard effectively and efficiently

Course Content

INTRODUCTION AND OVERVIEW
INITIAL RISK ASSESSMENT PROCEDURES
UNDERSTANDING THE ENTITY
SYSTEM OF INTERNAL CONTROL: FINANCIAL STATEMENT LEVEL
SYSTEM OF INTERNAL CONTROL: ASSERTION LEVEL
IDENTIFYING AND ASSESSMENT RMM
FINAL RISK ASSESSMENT PROCEDURES
BRINGING IT ALL TOGETHER
RESOURCES

CONTACT INFORMATION

Please contact us to find out more about our services and how we can help you save time and achieve peace of mind. Kirsten S. Albo, FCPA, FCA, ICD.D Phone: 1.204.228.2529 Email: askksa@ksaconsultinginc.com

WHO WE ARE

Kirsten uses her knowledge and expertise built from over 30 years of experience in public practice. She is recognized for her technical knowledge and practice style along with her drive, passion and leadership. She is innovative with a results-oriented approach. READ MORE

WHAT WE DO

ASK KSA provides consulting and advisory services to small- to mid-sized practitioners to help them save time and achieve peace of mind by meeting the requirements of public practice. We provide practical solutions to SMPs on conducting effective and efficient engagements. READ MORE

KEEP UP-TO-DATE

The standards are constantly changing and there are other evolving shifts in the profession making it challenge to keep up to date. Each month ASK KSA releases an update on technical requirements, practice management and professional development topics. SIGN UP