Date: January 2023
The Auditing and Assurance Standards Council (AASC) has approved on January 30, 2023 the adoption of IAASB’s International Standard on Auditing 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement First-Time Implementation Guide in its entirety as Philippine Standard on Auditing 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement First-Time Implementation Guide.