Page 22 - Day 2 - Planning an Audit

ISA 315

Par 10 forms the bases of the risk assessment and it

states that:

• The engagement partner and other key

engagement team members shall discuss the

susceptibility of the entity’s financial statements to

material misstatement, and the application of the

applicable financial reporting framework to the

entity’s facts and circumstances. The engagement

partner shall determine which matters are to be

communicated to engagement team members not

involved in the discussion.