Auditing Standard ASA 315 Identifying and Assessing the Risks of Material Misstatement
Table of AmendmentsTable of Amendments
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Table of Amendments
| Paragraph affected | How affected | By … [paragraph] |
|---|---|---|
| A38Footnote 25 | Amended | ASA 2021-1 [83] |
| A69 | Amended | ASA 2021-1 [84] |
| A69Footnote 33 | Amended | ASA 2021-1 [85] |
| A218Footnote 56 | Amended | ASA 2021-1 [86] |
| A45 | Amended | ASA 2022-1 [28] |
| A218Footnote 57 | Amended | ASA 2022-1 [29] |
AUTHORITY STATEMENT
Auditing Standard ASA 315 Identifying and Assessing the Risks of Material Misstatement (as amended to 27 April 2022) is set out in paragraphs Aus 0.1 to A241 and Appendices 1 to 6.
This Auditing Standard is to be read in conjunction with ASA 101 Preamble to AUASB Standards, which sets out how AUASB Standards are to be understood, interpreted and applied. This Auditing Standard is to be read also in conjunction with ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.
Conformity with International Standards on Auditing
This Auditing Standard conforms with International Standard on Auditing ISA 315 (Revised 2019) Identifying and Assessing the Risks of Material Misstatement issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).
Paragraphs that have been added to this Auditing Standard (and do not appear in the text of the equivalent ISA) are identified with the prefix “Aus”.
Compliance with this Auditing Standard enables compliance with ISA 315.