Comments of the auditing standards committee of the auditing section of the american accounting association on international auditing and assurance standards board exposure draft, proposed international standard on auditing 315 (Revised): Identifying and assessing the risks of material misstatement and proposed consequential and conforming amendments to other ISAs

Veena Looknanan Brown, Paul J. Coram, Sean A. Dennis, Denise Dickins, Christine E. Earley, Julia L. Higgs, Tammie J. Schaefer, Kay W. Tatum

Research output: Contribution to journalArticle

1 Scopus citations

Abstract

On July 16, 2018, the International Auditing and Assurance Standards Board (the Board or IAASB) issued a request for comment on its Exposure Draft, Proposed International Standard on Auditing 315 (Revised): Identifying and Assessing the Risks of Material Misstatement and Proposed Consequential and Conforming Amendments to Other ISAs (ED-315). Major enhancements proposed include explicit recognition of the auditor’s use of automated tools and techniques, requiring an understanding of an auditee’s use of information technology relevant to financial reporting, acknowledging the influence of an entity’s complexity on the audit plan, and increasing the emphasis on the need for professional skepticism. The comment period ended on November 2, 2018. This commentary summarizes the participating committee members’ views on selected questions posed by the IAASB.

Original languageEnglish (US)
Pages (from-to)C1-C9
JournalCurrent Issues in Auditing
Volume13
Issue number1
DOIs
StatePublished - Mar 1 2019

ASJC Scopus subject areas

  • Accounting

Fingerprint Dive into the research topics of 'Comments of the auditing standards committee of the auditing section of the american accounting association on international auditing and assurance standards board exposure draft, proposed international standard on auditing 315 (Revised): Identifying and assessing the risks of material misstatement and proposed consequential and conforming amendments to other ISAs'. Together they form a unique fingerprint.

Cite this