Course details

    1. Presentation

    2. Recording

About this course

  • $192.00
  • 2.5 CPD hours
  • February 2, 2024

Course description

Revised CAS 315 is the fundamental standard in performing audits and identifying and assessing the risk of material misstatement, however, auditors often face challenges in the application, especially related to less complex entities. There are many required procedures but at times auditors do not know what is required, why they are performing certain procedures or how to execute them.

This course will help auditors gain a deeper understanding of the requirements of Revised CAS 315. By investing time to properly perform risk assessment procedures to identify and assess the risk of material misstatement, auditors will streamline their engagements for greater efficiency.

Through an exploration of the standards, illustrative examples and guidance on practical application will strengthen your ability to conduct effective and efficient engagements.

Learning objectives

By the end of the session, participants will be able to:
  • Gain a comprehensive understanding of Revised CAS 315 requirements and its risk assessment procedures
  • Identify significant classes of transactions, account balances and disclosures
  • Develop a practical approach to documenting the system of internal control
  • Appreciate what is meant by the IT environment including IT applications, IT infrastructure, IT processes and general information technology controls (GITCs)
  • Differentiate between the concepts of understand and evaluate, and design and implementation
  • Establish an efficient strategy to document and conclude on risk assessments including inherent risk and control risk

    • Instructor(s)

    Kirsten Albo

    FCPA, FCA, ICD.D, President of ASK KSA Consulting Inc.

    Kirsten has over 30 years of experience in public practice and uses her knowledge and expertise to provide practical solutions to help firms meet the requirements of being in public practice.

    Kirsten gained her experience in public practice as an assurance partner at PricewaterhouseCoopers LLP. She was the partner on many public and private companies operating in a variety of industries. Her clients included Air Canada, Northwest Company and Winpak. Kirsten has a strong technical background and the ability to deal with complex matters. It is this experience she now brings to her clients.

    She has in-depth technical knowledge as she has faced extensive assurance and accounting issues. There are very few issues she has not encountered. And, having been subject to many internal and external file inspections she knows the challenges SMPs can encounter and appreciates where they can save time without sacrificing quality. When resolving issues, Kirsten is known for her practical approach and ability to provide useful advice. She is a good sounding board and helps practitioners address risk and make practical business decisions.