Participants will review the revised CAS 315 requirements with a focus on understanding an organization’s IT environment, related risks arising from the use of IT, and the role of general IT controls (GITCs) within the system of internal control. Participants will learn how to apply a scalable, risk-based planning approach and document procedures appropriately for different IT complexities.

• Auditors responsible for planning and performing risk assessments under CAS 315. 
• Practitioners who need to evaluate IT environments and GITCs in the context of financial statement audits. 
• Audit seniors and managers seeking practical, scalable approaches for entities with varying IT complexity. 

By the end of this course, participants should be able to: 

• Identify IT components relevant to the entity’s system of internal control and explain how they affect risk assessment. 
• Identify and document IT applications and other aspects of the IT environment that give rise to risks from the use of IT. 
• Explain the nature and purpose of general IT controls (access, change, and operations) and when they are relevant. 
• Apply scalability concepts to tailor procedures for simpler versus more complex IT environments.  

Topics include: 

• Refresher on key changes in the revised CAS 315 and implications for risk assessment. 
• The five components of internal control and where IT sits within the framework. 
• Gaining an understanding of the entity’s use of IT: applications, infrastructure, processes, and personnel. 
• Identifying IT applications subject to risks from the use of IT; information processing controls and reliance on system-generated reports. 
• General IT controls: manage access, manage change, and manage operations (purpose, typical risks addressed, and examples). 
• Risks arising from the use of IT (e.g., unauthorized access or changes, inappropriate manual intervention, loss of data) and their audit implications. 
• End-user computing (e.g., spreadsheets) and approaches to address related risks. 
• Practical scalability considerations for less complex and more complex IT environments.  

Course Content Created: October 2024

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About This Product

On-Demand Courses by CPA PRO are either video recordings from live seminars, or video recordings produced specifically for the on-demand audience. Where available, accompanying materials such as handouts or course notes are included.On-demand courses are eligible for verifiable CPD hours upon successful completion, and a certificate will be made available for download for your records.

Note that some courses comprise both formal instruction and self-directed exercises. In such cases, participants must complete both components to claim full CPD hours, or must reduce their reported CPD hours accordingly.

Please note that not all on-demand courses include downloadable materials such as course notes or slides.

How to get started

After completing your purchase, go to mylms.bccpa.ca. Log in using your CPABC Online Services credentials. Click Go to Your Courses and Materials to access your Learning Center. Select your course title to begin.