IAASA has published a Consultation Paper on its proposals to issue a revised version of ISA (Ireland) 315, Identifying and Assessing the Risks of Material Misstatement.
The purpose of this consultation paper is to obtain the views of stakeholders with regard to IAASA’s proposals to issue revised standard and conforming amendments.
The Consultation paper and the proposed revised standard are available here.
The proposed effective date of the revised standards in Ireland is for the audits of financial statements with accounting periods beginning on or after 15 December 2021.
CPA Ireland’s Auditing Practices Sub-Committee will consider and respond to this consultation.