Audits - Application of CAS 315 (On-Demand - CPA PRO)
Former Title: Audits - Application of CAS 315 Revised Standard
Overview
Revised CAS 315, Identifying and Assessing the Risks of Material Misstatement, was effective for audits of financial statements for periods beginning on or after December 15, 2021. Much has been learned since then. The identification and assessment of various risks is the cornerstone of the audit planning phase and this course will review all of the requirements of CAS 315.
A robust risk identification and assessment process is essential to the identification of the procedures to be completed. This course will review the key requirements of CAS 315 to help you, the auditor, apply the audit risk model in planning your audit engagements.
Access expires 180 days from purchase date |
Course Description
This course builds on your understanding of planning an audit, with a risk-based approach, based on a strong understanding of the business and its environment, including technology. The course will discuss the use of professional judgment and skepticism at the planning phase and will address documentation requirements.
This course will address the many risks that must be identified and assessed and will focus on inherent risk assessment at the financial statement and assertion levels, including the identification of significant inherent risks. It will also address the control risk assessment.
Applicable for
Learning Objectives
- understand the concept of “scalability” and how the requirements of CAS 315 vary based on the nature and size of an organization
- identify the key requirements of CAS 315 and how they can be met, considering the objective to be efficient in the planning and completion of your audit engagements
- conduct the assessment of inherent risks of misstatement, and how the “spectrum of inherent risk” is to be applied to relevant assertions
- conduct the assessment of control risk, recognizing the role of technology in your clients’ operations and processes
Content
- overview of the requirements of CAS 315
- assessing risks of material misstatement at the financial statement and assertion level, considering the inherent risk factors, the spectrum of inherent risks, significant risks, fraud risks, etc
- components of internal control
- designing responses to risks identified
- activities and application examples will be included to demonstrate the application of CAS 315 requirements, including scalability considerations
Course Content Created: September 2024
The information is current as of the creation or last updated date. While we strive to keep our inventory updated and periodically remove outdated titles, changes in accounting, tax, legislation and technology may occur. Purchasers should note the date and verify for themselves if the course is still relevant to their needs.Presenter
Jane Bowen, FPCA, FCAAbout 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. Slides and any corresponding handout materials are included where available.These titles are eligible for Verifiable CPD Hours – in order to claim these hours as verifiable, you will be required to successfully complete a short quiz. You will be able to print or save your electronic certificate of completion.
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
Upon completion of purchase, go to mylms.bccpa.ca and log in using your CPABC Online Services credentials. Click “Go to your Courses and Materials” to go to your Learning Center, then find and click on your course title.
Course Dates & Registration
- 7
- CPD Hours
- 0
- Ethics Hours
- 0
- AML Hours
- 10
- Credits
Starting April 1, 2026, a 2.1% fee will be applied to all credit card transactions. Learn more about this fee and how it relates to PD registrations.
Audits - Application of CAS 315 (On-Demand - CPA PRO)
Former Title: Audits - Application of CAS 315 Revised Standard
- 7
- CPD Hours
- 0
- Ethics Hours
- 0
- AML Hours
- 10
- Credits
Overview
Revised CAS 315, Identifying and Assessing the Risks of Material Misstatement, was effective for audits of financial statements for periods beginning on or after December 15, 2021. Much has been learned since then. The identification and assessment of various risks is the cornerstone of the audit planning phase and this course will review all of the requirements of CAS 315.
A robust risk identification and assessment process is essential to the identification of the procedures to be completed. This course will review the key requirements of CAS 315 to help you, the auditor, apply the audit risk model in planning your audit engagements.
Access expires 180 days from purchase date |
Course Description
This course builds on your understanding of planning an audit, with a risk-based approach, based on a strong understanding of the business and its environment, including technology. The course will discuss the use of professional judgment and skepticism at the planning phase and will address documentation requirements.
This course will address the many risks that must be identified and assessed and will focus on inherent risk assessment at the financial statement and assertion levels, including the identification of significant inherent risks. It will also address the control risk assessment.
Applicable for
Learning Objectives
- understand the concept of “scalability” and how the requirements of CAS 315 vary based on the nature and size of an organization
- identify the key requirements of CAS 315 and how they can be met, considering the objective to be efficient in the planning and completion of your audit engagements
- conduct the assessment of inherent risks of misstatement, and how the “spectrum of inherent risk” is to be applied to relevant assertions
- conduct the assessment of control risk, recognizing the role of technology in your clients’ operations and processes
Content
- overview of the requirements of CAS 315
- assessing risks of material misstatement at the financial statement and assertion level, considering the inherent risk factors, the spectrum of inherent risks, significant risks, fraud risks, etc
- components of internal control
- designing responses to risks identified
- activities and application examples will be included to demonstrate the application of CAS 315 requirements, including scalability considerations
Course Content Created: September 2024
The information is current as of the creation or last updated date. While we strive to keep our inventory updated and periodically remove outdated titles, changes in accounting, tax, legislation and technology may occur. Purchasers should note the date and verify for themselves if the course is still relevant to their needs.Presenter
Jane Bowen, FPCA, FCAAbout 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. Slides and any corresponding handout materials are included where available.These titles are eligible for Verifiable CPD Hours – in order to claim these hours as verifiable, you will be required to successfully complete a short quiz. You will be able to print or save your electronic certificate of completion.
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
Upon completion of purchase, go to mylms.bccpa.ca and log in using your CPABC Online Services credentials. Click “Go to your Courses and Materials” to go to your Learning Center, then find and click on your course title.
Course Dates & Registration
Starting April 1, 2026, a 2.1% fee will be applied to all credit card transactions. Learn more about this fee and how it relates to PD registrations.