DESCRIPTION
This module addresses the requirements related to gaining an understanding of the entity and its environment (AU-C 315), as executed in DAS via UEE Central and Risk Indicators. Through a case study focused on updating UEE Central, participants will learn the importance of curiosity and how information gathered in UEE Central flows downstream in a DAS audit to drive risk assessment and risk response.
LEARNING OBJECTIVES
- Describe the purpose, uses, and requirements of the understanding the entity and its environment (UEE) phase of the audit, including how information flows from UEE to other phases of the audit
- Perform procedures in DAS to gather information during the understanding the entity phase, with a focus on risk indicators
