CTHIn ForceLegislation
ASA 315 - Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment - October 2009
ObjectiveObjective
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Objective
- The objective of the auditor is to identify and assess the risks of material misstatement, whether due to fraud or error, at the financial report and assertion levels, through understanding the entity and its environment, including the entity’s internal control, thereby providing a basis for designing and implementing responses to the assessed risks of material misstatement.