Thursday 1 December 2022


12:00 pm


1.5 CPD Hours

Session Topic

Implementing the revised ASA 315 Identifying and Assessing the Risks of Material Misstatement (Part 4) – Understanding IT controls and internal audit

The revised ASA 315 contains expanded guidance on information technology and ways of understanding IT controls.  The revised standard requires a greater focus on IT and internal audit. This session brings various risk-assessment requirements into focus. Clients should notice changes in the way audits are undertaken and the information required of them.

The session addresses:

  • Identifying the risks arising from the use of IT and general IT controls
  • Information technology (Appendix 5)
  • Understanding general IT controls (Appendix 6)
  • FAQs in the AUASB Bulletin: ASA 315 and the Auditor’s Responsibilities for General IT Controls
  • Internal audit – what’s changed?
  • Identifying and assessing the risks of material misstatement
  • Documentation, and
  • What to tell the client about ASA 315.
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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.