Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This course reviews the revisions to CAS 315, Identifying and Assessing the Risks of Material Misstatement. In particular, it will review the key changes to obtaining an understanding of an organization’s use of IT and the risks arising from that use. The course builds on the participants 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 focus on obtaining an understanding of the IT Environment and GITCs. To accomplish this, it will first start with an introduction to the components of IT that are relevant to an audit of financial statements and the linkage between the business and IT processes and controls within the entity’s system of internal control.
In short, this course is intended to provide participants with guidance on the practical application of key revisions in the standard relating to IT.
Topics Include:
- Components of internal control, including IT
- Gaining an understanding of an organization’s use of IT
- Components of IT that are relevant to the audit of financial statements
- Risks arising from the Use of IT
- An introduction to General IT Controls
- Primer on end user computing
NOTE: No updates or changes were made to the 2025 version of this course. If you completed the course in 2024, please be advised the 2025 course material has not changed. If you have any questions, please contact pdevents@cpaontario.ca.
Other Available Sessions
- Session for December 12 available here.
Key Takeaways
By the end of this course, participants should be able to:
- Develop an approach to the implementation of CAS 315 in their 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.
- Describe the concept of “scalability” and how the requirements of CAS 315 vary based on the nature and size of an organization.
Who Will Benefit
This course is intended for auditors who need to understand and apply CAS 315.
Prerequisite(s)
Participants should have a working knowledge of the CPA Canada Handbook – Assurance and Revised CAS 315 either through self-review or completion of the following course: Audits: Application of CAS 315.
How to Access the Course
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
If available, course materials can be accessed 2 business days prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Jane M. Bowen, FCPA, FCA, has been involved in professional development and education for Members and students for many years. She currently lectures in financial accounting and audit at UOIT in Oshawa. She authors or mentors courses in this professional development program, and has contributed to CPA Canada publications: Guide to Accounting Standards for Private Enterprises (GASPE); and Guide to International Financial Reporting Standards in Canada. Jane is currently the Chair of the CPA Canada Competency Map and often authors publications issued by CPA Canada’s Research Guidance and Support Group, addressing the implementation of new accounting and assurance standards. Jane has recently authored the following documents on Review Engagements: Guide to Review Engagements (September 2016); Alert: CSRE 2400, Engagements to Review Historical Financial Statements (June 2016); Briefing: CSRE 2400, Engagements to Review Historical Financial Statements (March 2017), and the following ASPE briefings: Amalgamations of Wholly-owned Enterprises (January 2017); A New Light on Accounting for Investments (2016); and Section 3462, Employee Future Benefits: A Focus on Defined Benefit Plans (2014).