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New Implementation Guide Available for Identifying and Assessing the Risks of Material Misstatement in An Audit of Financial Statements

The International Auditing and Assurance Standards Board (IAASB) released its First-Time Implementation Guide for ISA 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement. The guide focuses on the more substantial changes that were made to International Standard on Auditing (ISA) 315 (Revised 2019) and will help stakeholders understand and apply the revised standard as intended.


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