Document ID: chunk:federal_register_of_legislation:F2016C00028:reg:26:p1
Version: federal_register_of_legislation:F2016C00028
Segment Type: reg
Provision Reference: reg 26 (pt 1/47)
Character Range: 7632–11465

26                             Amended       ASA 2015-1 [59]
A1                             Amended       ASA 2015-1 [60]
A19                            Amended       ASA 2015-1 [61]
A22                            Addition      ASA 2015-1 [62-63]
A27                            Amended       ASA 2015-1 [65]
A31                            Amended       ASA 2015-1 [66]
Aus A31.1                      Deleted       ASA 2015-1 [64]
A32                            Amended       ASA 2015-1 [67]
A81                            Amended       ASA 2015-1 [68]
A91                            Addition      ASA 2015-1 [69 and 71]
Footnote 15                    Addition      ASA 2015-1 [70]
A92                            Addition      ASA 2015-1 [72-73]
A96                            Amended       ASA 2015-1 [74]
A103                           Addition      ASA 2015-1 [75-76]
A123                           Amended       ASA 2015-1 [77]
A125 (pre-existing paragraph)  Deleted       ASA 2015-1 [85]
A127                           Amended       ASA 2015-1 [78]
Heading above paragraph A128   Addition      ASA 2015-1 [80]
A128                           Amended       ASA 2015-1 [81]
Heading above paragraph A129   Addition      ASA 2015-1 [82]
A129                           Addition      ASA 2015-1 [83-84]
A131                           Amended       ASA 2015-1 [86]
Footnote 17                    Addition      ASA 2015-1 [87]
A132                           Amended       ASA 2015-1 [88]
A133                           Addition      ASA 2015-1 [89 and 91]
Footnote 18                    Addition      ASA 2015-1 [90]
Footnote 19                    Addition      ASA 2015-1 [90]
A134                           Addition      ASA 2015-1 [92-93]
Heading above paragraph A135   Addition      ASA 2015-1 [94]
A135                           Addition      ASA 2015-1 [95-96]
Heading above paragraph A136   Addition      ASA 2015-1 [97]
A136                           Addition      ASA 2015-1 [98-99]
Appendix 2                     Amended       ASA 2015-1 [100]

AUTHORITY STATEMENT

 Auditing Standard ASA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment (as amended to 1 December 2015) is set out in paragraphs Aus 0.1 to A155 and Appendices 1 and 2.

 This Auditing Standard is to be read in conjunction with ASA 101 Preamble to Australian Auditing Standards, which sets out the intentions of the AUASB on how the Australian Auditing Standards, operative for financial reporting periods commencing on or after 1 January 2010, are to be understood, interpreted and applied.  This Auditing Standard is to be read also in conjunction with ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.

Dated: 1 December 2015

Conformity with International Standards on Auditing

This Auditing Standard conforms with International Standard on Auditing ISA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).

Paragraphs that have been added to this Auditing Standard (and do not appear in the text of the equivalent ISA) are identified with the prefix "Aus".

Compliance with this Auditing Standard enables compliance with ISA 315.

Auditing Standard ASA 315

The Auditing and Assurance Standards Board (AUASB) made Auditing Standard ASA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section