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What is the purpose of ISA 315?
  • a)
    To evaluate internal control deficiencies.
  • b)
    To assess the risks of material misstatement.
  • c)
    To define audit engagement terms.
  • d)
    To conduct analytical procedures.
Correct answer is option 'B'. Can you explain this answer?
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What is the purpose of ISA 315?a)To evaluate internal control deficien...
ISA 315 provides guidelines for auditors to identify and assess the risks of material misstatement in financial statements, helping auditors plan their audit procedures accordingly.
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What is the purpose of ISA 315?a)To evaluate internal control deficiencies.b)To assess the risks of material misstatement.c)To define audit engagement terms.d)To conduct analytical procedures.Correct answer is option 'B'. Can you explain this answer?
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