ISA (NZ) 315 (Revised)

Identifying and Assessing the Risks of Material Misstatement Through Understanding the Entity and Its Environment

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 Also applies to subsequent annual reporting periods until that standard is superseded by a new/amended/revised standard. Versions prior to the Previous version below will have been archived.

  • ISA (NZ) 315 (Revised 2019) – Periods beginning on or after 15 Dec 2021 (early adoption permitted)

    Date of issue: Apr 2020

Previous version

  • ISA (NZ) 315 (Revised) – Periods ending on or after 15 Dec 2016

    Date of issue: Feb 2013

    Date compiled: 31 Oct 2015