ISA 315 Identifying and assessing the risks of material misstatement requires the auditor to carry out risk assessment procedures to identify the possibility of material misstatement in the financial statements. Required: 1. List three activities that the auditor can perform to help gain an understanding of the entity being audited and so identify the possibility of material misstatements. 2. State audit procedures that auditor may follow to assess fraud
ISA 315 Identifying and assessing the risks of material misstatement requires the auditor to carry out risk assessment procedures to identify the possibility of material misstatement in the financial statements. Required: 1. List three activities that the auditor can perform to help gain an understanding of the entity being audited and so identify the possibility of material misstatements. 2. State audit procedures that auditor may follow to assess fraud
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ISA 315 Identifying and assessing the risks of material misstatement requires the auditor to carry out risk assessment procedures to identify the possibility of material misstatement in the financial statements.
Required:
1. List three activities that the auditor can perform to help gain an understanding of the entity being audited and so identify the possibility of material misstatements.
2. State
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