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Revised ISA 315 to strengthen audit of material misstatement

The International Auditing and Assurance Standards Board (IAASB) has released the revised ISA 315 to tighten up the audit requirements for material misstatements in the event or fraud or error.

Revised ISA 315 to strengthen audit of material misstatement
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One of the key changes to the International Standard on Auditing (ISA) 315 (Revised 2019) Identifying and Assessing the Risks of Material Misstatement has been to tighten up the audit requirements to clarify the methodology for identifying and assessing risk to improve audit quality.

Read more at the Accountancy Daily.

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