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.
