Revisions to ISA 315 – AASB

Date recorded:

At its meeting on June 10-11, 2019, the AASB provided input to the IAASB members from Canada on issues related to proposed ISA 315 (Revised), Identifying and Assessing the Risk of Material Misstatement. The Board discussed the IAASB’s: (i) proposed approach to presenting the requirements and application material; (ii) proposed changes to the requirements, application material, and appendices; and (iii) proposed consequential amendments to ISA 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing. The Board will continue to discuss this project at future meetings.

Review the executive summary on the AASB's Web site.

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