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HKSA 315 (Revised 2019) Identifying and Assessing the Risks of Material Misstatement




Technical Resource

This webpage contains pronouncements, guides and articles that are relevant to HKSA 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement.


Effective Date

The standard is effective for audits of financial statements for periods beginning on or after 15 December 2021. It places the extant HKSA 315 (Revised).


Affected standards

HKSA 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement


Why change

HKSA 315 (Revised 2019) has been revised to include a more robust and consistent risk identification and assessment. The revised standard sets out clarified and enhanced requirements, and enhanced application material, to support the auditor’s risk assessment process, intended to support more focused responses to the auditor’s risk assessment in accordance with HKSA 330, The Auditor’s Responses to Assessed Risks.


Click below for more information:


The Institute






CPA Canada







Last updated: March 2023




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