Scope of application
- This Auditing Standard specifies and guides the auditor's responsibility and auditing firms (hereinafter referred to as "auditors") in identifying and assessing the risks of material misstatement in the financial statements through knowledge of the entity and the entity's environment, including internal control.
- The auditor and the firm shall comply with the requirements and instructions in this Standard in the course of performing the audit of the financial statements.
The entity (the customer) and the parties using the results of the audit are required to have the necessary understanding of the requirements and guidelines of this International Standard in order to coordinate work with the auditor and the firm. as well as handling relationships related to information that has been audited.
- Auditor's goal and corporate auditing Identifying and assessing the risks of material misstatement due to fraud or error at the financial statement level and assertion level, through knowledge of the entity and the entity's environment. These include internal controls, which in turn provide the basis for the design and implementation of remedial measures for the assessed risk of material misstatement.
See full text Auditing Standard No. 315