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Understanding and implementing CAS 315 Revised in your…

Type: Webinar with NA CPE
Starts
16 November 2022 2:00 pm ET
Ends
16 November 2022 5:00 pm ET

2:00 – 5:00 pm EST





Untitled Document

3 hrs CPE/CPD in Auditing

Program Level: Intermediate  

Understanding and Implementing CAS 315 Revised in your Risk Assessment          

CAS 315R has been extensively revised to include a more robust and consistent risk identification and assessment framework. The revised standard sets out clarified and enhanced requirements to support the auditor’s risk assessment process, intended to support more focused responses to the auditor’s risk assessment in accordance with CAS 330.

While the standard is effective for audits of financial statements for periods beginning on or after December 15, 2021, the changes to the auditor’s risk assessment process are expected to be a significant change from existing practice.  Therefore, practitioners should begin to understand the changes and plan to pilot engagements well before the standards becomes effective for all audits.  

The course will review the key changes and requirements of CAS 315 revised and examine the impact of CAS 315R on:

• Understanding the entity and its environment;
• Understanding and assessing inherent risk;
• Documenting and understanding the entity’s system of internal; and
• Information technology and IT general controls;

The course will review the changes to the PEG audit methodology and forms which were revised to incorporate the changes to CAS 315 revised and planning considerations for the upcoming December 2022 and beyond year-end audits impacted by the new standard.

 

Learning Objectives

  • Understand key changes to CAS 315 revised from previous standard
  • Review new CAS 315R Professional Engagement Guide (PEG) methodology and forms
  • Assess impact on upcoming assurance engagements and teams

Prerequisites

  • CPA or CPA student
  • Course focuses on key changes to standards and assumes an understanding of existing standards


Speaker Bio


Marcus A. Guenther, CPA, CA, MBA
FocusKGK LLP

Marcus Guenther is with FocusHGK LLP, which provides quality assurance, monitoring, EQCR and other consulting services.    

Relevant experience:
Marcus an accomplished trainer in accounting and auditing, author and consultant. In particular he:
• assists many accounting firms in monitoring their quality control systems, 
• authors and presents training courses on accounting and auditing topics, and
• assists with interpreting and applying professional standards on complex accounting and auditing issues.  

Training: 
Marcus has prepared and presented many accounting and assurance courses for CPA Canada, CPA Ontario, commercial training firms and individual firms over the years.  

Authoring:
He was the co-author of the CPA Professional Engagement Guide (PEG) and the Quality Assurance Manual (QAM) and has authored other technical publications. 

 


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