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Identifying and Assessing Risks of Material Misstatement


International Standard on Auditing 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement, promotes a more consistent and robust risk assessment by the auditor that will drive an appropriate and effective response to those risks. Importantly, the standard also helps auditors keep up with the evolving environment in which businesses operate, including in relation to technology.