Online Seminar

Audit Engagements - Overview of CAS 315 Revised Standard

Oct 17, 2022



OCT 17



8:30 AM - 12:30 PM




3.75 Hours


0 Hours


Registration open until

Oct 12, 2022


NOTE: This course description has been revised to include updates to the course material for 2022. If you have any questions, please contact

CAS 315, Identifying and Assessing the Risks of Material Misstatement has been significantly revised, reorganized, and enhanced to require a more robust risk identification and assessment to promote improved responses to identified risks. The revised standard introduces new concepts and definitions, enhancements and clarifications to help the auditor apply the audit risk model, and strengthened documentation requirements relating to the exercise of professional skepticism, among other things. It is important to understand the changes to the standard and how these changes will impact audit engagements. This course is for everyone! Auditors, Board Members and those interested in keeping informed in revisions to the auditing process.

This course introduces the revisions to CAS 315, Identifying and Assessing the Risks of Material Misstatement. This course will review the key changes and introduce you to the extensive application material in the revised standard. This course builds on your understanding of planning an audit based on a strong understanding of the business and its environment. In addition, the importance of understanding technology will be discussed..

Topics Include:

  • Some of the requirements of CAS 315
  • What has remained the same in CAS 315
  • What are the changes and why were these changes made
  • What these changes mean for your next audit
  • How the changes fit within the entire audit plan and response
  • Components of internal control
  • Assessing risks of material misstatement and designing responses
  • What is included in the application material of CAS 315
  • ​Scalability considerations

  • Identify and develop an approach to the implementation of CAS 315 in your practice or how the implementation by your auditor may change what is asked of you
  • Apply the assessment of inherent risks of misstatement, and how the “spectrum of inherent risk” is to be applied to relevant assertions
  • Apply the control risk assessment, recognizing the role of technology
  • Understand the concept of “scalability” and how the requirements do vary based on the nature and size of an organization

This course is for auditors and others who want to, or need to be aware of the revisions CAS 315.

Participants should have a working knowledge of the CPA Canada Handbook – Assurance.


$163.00 Personal Passport

$190.00 Organization Passport

$261.00 Member

$261.00 Student

$317.00 Public

Status: Registration open until Oct 12, 2022




Jane M. Bowen, FCPA, FCA has been involved in professional development and education for Members and students for many years. She currently lectures in financial accounting and audit at UOIT in Oshawa. She authors or mentors courses in this professional development program, and has contributed to CPA Canada publications: Guide to Accounting Standards for Private Enterprises (GASPE); and Guide to International Financial Reporting Standards in Canada. Jane is currently the Chair of the CPA Canada Competency Map and often authors publications issued by CPA Canada’s Research Guidance and Support Group, addressing the implementation of new accounting and assurance standards. Jane has recently authored the following documents on Review Engagements: Guide to Review Engagements (September 2016); Alert: CSRE 2400, Engagements to Review Historical Financial Statements (June 2016); Briefing: CSRE 2400, Engagements to Review Historical Financial Statements (March 2017), and the following ASPE briefings: Amalgamations of Wholly-owned Enterprises (January 2017); A New Light on Accounting for Investments (2016); and Section 3462, Employee Future Benefits: A Focus on Defined Benefit Plans (2014).


This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.

Electronic material can be accessed one week prior to the course at and should be downloaded in advance.

Registration, cancellation, withdrawal and all other CPA Ontario PD Seminar policies can be found here.