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CA Final Audit Standards
·
Module 2
Planning, Materiality, and Risk Assessment
1
Planning an Audit: Key Activities per SA 300
Outline the key activities in planning an audit of financial statements as per SA 300.
2
Understanding Materiality in Audits (SA 320)
Explain the concept of materiality in planning and performing an audit, including performance materiality, as per SA 320.
3
Understanding and Assessing Material Misstatement Risk
Describe the process of identifying and assessing the risks of material misstatement by understanding the entity and its environment, including internal controls (SA 315).
4
Understanding Business Risks and Risks of Material Misstatement
Distinguish between business risks and risks of material misstatement at the financial statement and assertion levels.
5
Internal Control Components: Audit Significance
Explain the significance of understanding the entity's internal control components relevant to the audit.
Previous module
Foundations: Objectives and Ethical Conduct
Next module
Responding to Assessed Risks