Process understanding and walkthrough working paper
SA 315 is not a form-filling exercise: the understanding you obtain is what identifies the risks, and a risk you have not identified is one you cannot respond to, which is how audits fail.
- 3 pages
- 101
- Word and PDF
- 13 September 2026
What it covers
- 1Process understanding and walkthrough working paperSA 315 · file ref B-6
Read the opening
The first part of the format, as it downloads. Blanks are highlighted.
[Name of the firm], Chartered Accountants
Process understanding and walkthrough
Client: [Client company's name] Period: [year ended 31 March 2026] WP ref: [B-6/3]
Process: [Procure to pay — raw material purchases] Significant classes of transactions covered: [purchases, trade payables, GST input credit]
Assertions affected: [occurrence, completeness, accuracy, cut-off, classification]
Prepared by: [Prepared by (name and date)] Reviewed by: [Reviewed by (name and date)]