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Wed, Nov 16


Webinar (3 CPD Hours)

Understanding and Implementing CAS 315 Revised in Your Risk Assessment

In affiliation with GTA Accountants & Finance Network. CAS 315 revised (CAS 315R) has been extensively revised to include a more robust and consistent risk identification and assessment framework.

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Time & Location

Nov 16, 2022, 9:00 a.m.

Webinar (3 CPD Hours)

About the Event

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. The revised standard requires a deeper understanding of the entity’s information systems, IT applications and controls. 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 using the spectrum of inherent risks;
  • Documenting and understanding the entity’s system of information systems; and
  • Information technology applications and IT general controls.

The course will review the changes to the PEG audit methodology and forms (6 new forms and revisions to another 18 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.

Speaker: Marcus Guenther, CPA, CA, partner at Focus HGK LLP


  • 3 CPD Hours

    Tax: HST included
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