Thursday 18 April 2024


2:30 pm


1.5 CPD Hours

Session Topic

Deep dive into ASA 315 – business model, governance, accounting framework – and implementation issues

Understanding the entity and its environment is fundamental to an auditor’s identification of the risks of material misstatement. What you need to know is in ASA 315 Identifying and Assessing the Risks of Material Misstatement, and we take a deep dive into it. Four aspects of ASA 315 – business model, governance, regulatory/accounting framework and implementation – are especially targeted. The session complements previous GAAPinars on ASA 315.

The session will:

  • Discuss the challenges encountered in practice in applying ASA 315
  • Explain why understanding the client’s business model is important
  • Describe how to understand, assess, and document governance as a control
  • Explain why the regulatory/accounting frameworks need greater attention, and
  • Discuss the importance of understanding and documenting a client’s culture of honesty and ethical behaviour.
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This session is presented by:

Colin Parker

Principal | GAAP Consulting | Financial Reporting Expert

Colin, Principal of GAAP Consulting, is an expert in financial reporting, auditing and related governance issues, and was previously a member of the Australian Accounting Standards Board.

He has conducted many independent expert and consulting experts reports on professional negligence, and accounting and auditing standards. He is the team leader advisory and litigation services and adviser to GAAP Training and Reportfraud.


Chanelle Pienaar

Principal | Audit Assist

Chanelle is an accomplished Chartered Accountant with more than 20 years’ experience as an auditor in a wide variety of Financial Audit and Audit Quality Control projects. Chanelle has abroad range of experience covering Financial Statement Audits, Audit Quality Control Reviews, Trust Account Audits and AASB implementation Advice & Assistance.

Chanelle has strong technical knowledge and enthusiastic training style ensures that all participants, from the graduate to the partner, receive maximum value from each training session.