Auditing and Assurance Standards and Guidance

Auditing Standards (Ireland)

FRC ISAs (UK and Ireland) applicable for periods beginning on or after 15 December 2010 but before 17 June 2016

ISA (UK and Ireland) 315 Identifying and assessing the risk of material misstatement through understanding the entity and its environment

ISA (UK and Ireland) 315 applicable for periods ending on or after 15 December 2010
Application and Other Explanatory Material
Risk Assessment Procedures and Related Activities (Ref: Para. 5 )
Observation and Inspection (Ref: Para. 6(c) )
A11.Observation and inspection may support inquiries of management and others, and may also provide information about the entity and its environment. Examples of such audit procedures include observation or inspection of the following:
 dotbulletThe entity's operations.
 dotbulletDocuments (such as business plans and strategies), records, and internal control manuals.
 dotbulletReports prepared by management (such as quarterly management reports and interim financial statements) and those charged with governance (such as minutes of board of directors' meetings).
 dotbulletThe entity's premises and plant facilities.
Top Licence and copyright © 2018, LexisNexis Group a division of Reed Elsevier (UK) Ltd. All rights reserved.