ISA (NZ) 315 Identifying and Assessing the Risks of Material Misstatement Through Understanding the Entity and Its Environment

  • Auditing
  • Archived Standards

This Standard deals with the auditor’s responsibility to identify and assess the risks of material misstatement in the financial statements, through understanding the entity and its environment, including the entity’s internal control.


Effective for audits of financial statements for periods as indicated. Also applies to subsequent annual reporting periods until that standard is superseded by a new/amended/revised standard. 

  • ISA (NZ) 315 – Periods beginning on or after
    1 Sep 2011

    Date of issue: Jul 2011 Date compiled to: 1 Jul 2011