When auditing management's accounting estimates, increased professional skepticism is necessary as there is always the potential for bias in areas of increased subjectivity & complexity. This course will demonstrate procedures to test the process used by management to develop estimates, as well as walk through common examples of accounting estimates that are included in the financial statements.
DESIGNED FOR
Accountants and Auditors
BENEFITS
After attending this presentation, you will be able to...
- Perform audit procedures to obtain comfort over the reasonableness of management's estimates
- Recall circumstances that require accounting estimates
HIGHLIGHTS
The major topics that will be covered in this course include:
- Procedures to test the process used by management to develop estimates.
- Common examples of accounting estimates that are included in the financial statements.
- Updated requirements in SAS 143.
PREREQUISITES
None
ADVANCE PREPARATION
None