Auditing Accounting Estimates

Unleash your potential with our online training course on Auditing Accounting Estimates!

Gain a practical understanding of key requirements from ISA 540 (Revised) and learn how to implement them during the audit to ensure accuracy and minimise risk.

With our attention-grabbing visuals, real-world examples, and expert guidance, you’ll develop the skills needed to excel in your career.

Don’t miss out on this opportunity to advance your career – enrol today!

Overview:

Auditors frequently encounter accounting estimates made by management during their audits. However, many auditors do not adequately document their consideration of the requirements of ISA 540 (Revised) when auditing accounting estimates. Considering that accounting estimates may indicate an increased risk of fraud when estimation uncertainty or possible management bias is involved, it is critical that auditors document their consideration of the relevant requirements and demonstrate how they applied their professional scepticism when exercising professional judgment in this regard.

This training will give participants a practical understanding of key requirements relating to auditing accounting estimates, how to implement them during the audit, and appropriate documentation in audit working papers.

Content and outline:

To explain the following concepts and demonstrate their practical application:

• Key requirements from ISA 540 (Revised)
• The three testing approaches
• Common errors and solutions.

Certification:

Upon completion of the training, participants will receive a verifiable attendance certificate.