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.

This course will address how Revised CAS 315 will impact your audit engagements. It will focus on inherent risk assessment at the financial statement and assertion levels, including the identification of significant inherent risks and the control risk assessment. This course will also address some of the key areas of change, including for example, obtaining and understanding of the IT Environment and GITCs, along with the understanding and responses required related to journal entries.

In short, this course is intended to provide participants with guidance on the practical application of some of the key revisions in the standard.

Participants should have a working knowledge of the CPA Canada Handbook – Assurance and Revised CAS 315 either through self-review completion of the following course: Audit Engagements-Overview of CAS 315 (Revised Standard)

Content

Topics Include:

· Overview of the requirements of Revised CAS 315

· Components of internal control

· 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.

· Designing responses to risks identified

· Activities and application examples will be included to demonstrate the revisions to CAS 315

· Scalability considerations will be addressed in specific application activities.

Applicable for

This course is intended for auditors who need to understand and apply Revised CAS 315.

Learning Objectives

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

· Understand the concept of “scalability” and how the requirements of CAS 315 vary based on the nature and size of an organization.

· Identify key changes develop an approach to the implementation of CAS 315 in your practice related to obtaining an understanding the 5 components of internal control, with a focus on the IT Environment and General IT controls.

· Apply the control risk assessment, recognizing the role of technology.

· Apply the assessment of inherent risks of misstatement, and how the “spectrum of inherent risk” is to be applied to relevant assertions

Seminar Leader: Bradley Keefe

What to Expect

· Materials will be emailed to participants two business days prior to the course date and can be downloaded or printed in advance. Once sent, the email will also be found in your Account Communication tab of the CPA Manitoba Member Portal.

· WIFI and electrical outlets are available if participants wish to bring a laptop or tablet to view the material.

· Prior to your arrival, please ensure you do not have symptoms of a communicable disease (e.g. fever or chills, coughing, sore throat, diarrhea, etc.). If you are exhibiting symptoms, please do not attend the CPAMB event, and contact [email protected] to determine alternate registration/cancellation.

· Health protocols may change without notice to comply with Winnipeg Health Authority guidelines

CPA Manitoba PD Terms and Conditions