Good planning is the bedrock of a good audit. Every reporting season has its own unique audit risks and challenges.
Auditors are still coming to grips with the substantially revised ASA 315 Identifying and Assessing the Risks of Material Misstatement. A prior year’s audit plan can’t simply be rolled-over – audit risks change with business and regulatory environments. This session will focus on them – and how to handle them.
The session will:
- Describe how your audit planning needs to change to incorporate the revised ASA 315
- Lessons as at 31 December from test driving ASA 315, and
- Identify significant audit risks based on financial-reporting and auditing deficiencies identified by ASIC and other regulators.