Document ID: chunk:federal_register_of_legislation:F2016C00028:front:0:p2
Version: federal_register_of_legislation:F2016C00028
Segment Type: other
Provision Reference: 
Character Range: 3197–6523

DETAILS

AUTHORITY STATEMENT

CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING

Paragraphs

Application......................................................Aus 0.1-Aus 0.2

Operative Date............................................................Aus 0.3

Introduction

Scope of this Auditing Standard..................................................1

Effective Date...............................................................2

Objective..................................................................3

Definitions.................................................................4

Requirements

Risk Assessment Procedures and Related Activities..................................5-10

The Required Understanding of the Entity and its Environment, Including the Entity's Internal Control11-24

Identifying and Assessing the Risks of Material Misstatement.........................25-31

Documentation..............................................................32

Application and Other Explanatory Material

Risk Assessment Procedures and Related Activities...............................A1-A24

The Required Understanding of the Entity and Its Environment, Including the Entity's Internal ControlA25-A121

Identifying and Assessing the Risks of Material Misstatement.....................A122-A151

Documentation.......................................................A152-A155

Appendix 1:  Internal Control Components

Appendix 2:  Conditions and Events That May Indicate Risks of Material Misstatement

COMPILATION DETAILS

Auditing Standard ASA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment (as Amended)

This compilation takes into account amendments made up to and including 1 December 2015 and was prepared on 1 December 2015 by the Auditing and Assurance Standards Board (AUASB).

This compilation is not a separate Auditing Standard made by the AUASB.  Instead, it is a representation of ASA 315 (October 2009) as amended by other Auditing Standards which are listed in the Table below.

Table of Standards
Standard        Date made         Operative Date
ASA 315 [A]     27 October 2009   Financial reporting periods commencing on or after 1 January 2010
ASA 2011‑1 [B]  27 June 2011      Financial reporting periods commencing on or after 1 July 2011
ASA 2013‑2 [C]  11 November 2013  Financial reporting periods commencing on or after 1 January 2014
ASA 2015‑1 [D]  1 December 2015   Financial reporting periods ending on or after 15 December 2016

    [A] Federal Register of Legislative Instruments – registration number F2009L04079, 12 November 2009

    [B] Federal Register of Legislative Instruments – registration number F2011L01379, 30 June 2011

    [C] Federal Register of Legislative Instruments – registration number F2013L01939, 14 November 2013

    [D] Federal Register of Legislative Instruments – registration number F2015L02032, 16 December 2015

Table of Amendments
Paragraph affected             How affected  By … [paragraph]
A26                            Amended       ASA 2011-1 [28]
Appendix 1                     Amended       ASA 2011-1 [29]
Para. 3
Appendix 1                     Amended       ASA 2011-1 [30]
Sub-heading above Para. 5
6(a)                           Amended       ASA 2013-2 [58]