WHY do auditors need to UNDERSTAND their clients? ISA/ASA 315 explained (part 1)

[@tejsingh5950]

For those studying the American CPA exam, ASA 315 is equivalent to GAAS AU-C 315: " "auditor to identify and assess the risk of material misstatmeent (RMM) whether due to fraud or error, at the financial statement and relevant assertion levels".
Amazing video

[@maryphiri1449]

These videos are so helpful, thanks Amanda ❤❤❤❤ much love from Zambia

[@adnanashraf875]

Found very helpful for my final exam of CA... Thanks

[@bonfacenyalaya2177]

Amanda your really a professional auditor and you doing a great and wonderful work for me

[@vudinhthiem2078]

Thank a lot Amanda. it is useful for me. May i know when the part 2 is available?

[@amandalovestoaudit]

Hi Vu! Just released it today -
ISA/ASA 315 Part 2!
ua-cam.com/video/bvWB3wgRKMQ/v-deo.html
Part 3 on the new exposure draft will be out tomorrow :)

[@ericktanui5983]

Thanks Amanda for the good work.

[@amandalovestoaudit]

Thanks Erick!

[@valentinengwena8474]

Thank you very much Amanda .very useful

[@danielgordon4760]

Hi Amanda, what does the term mean “rebuttal of the assumed risk of assessment” in context? Thanks Daniel

[@amandalovestoaudit]

Hi Daniel - is this from ISA/ASA315? It is not a phrase I'm familiar with in this specific standard

[@danielgordon4760]

Hi Amanda, ISA 240 contains a rebuttable presumption mention which relates to revenue, and has come up in a CA worked example in a test of control question

[@mojojojo5230]

Thanks a lot Amanda. I'm a Chartered Accountant student in India. Mostly the standards are same, even the name and number. Your videos provide best explanation on these standards. I'm hoping to pass this time with your help. Thanks a lot!! ☺

[@ppss9447]

Thank you so much. This helps me a lot😊😊

[@kaliescrimaarnispuntaingan328]

thanks a lot.

[@jhonica]

The standard says that "not all business risk give rise to risks of material misstatement." Can you provide an example of such business risk?

[@amandalovestoaudit]

Hi Jhonica - sorry for the delay in replying to this. I talk about this and give some examples in this video here
ua-cam.com/video/ENdilHkF2wY/v-deo.html

[@jhonica]

The standard says that "not all business risk give rise to risks of material misstatement." Can you provide an example of such business risk?

[@amandalovestoaudit]

I go through this in depth here in this video :)
Can you identify Significant Risks for an audit client? ua-cam.com/video/ENdilHkF2wY/v-deo.html