Auditing Estimates and Subjective Accounting Information

Authored by Joanne Flood, CPA-MBA
About this Course
This course will help the experienced auditor to recognize estimates and subjective information, plan early to identify key estimates and risks, and focus on the process to identify significant assumptions. You'll practice assessing assumptions and learn the best techniques for gathering audit evidence and how to assess management's ability and intents. You'll analyze past performance and review documents. You'll be given hands on experience in auditing a cash flow estimate.
Learning Objectives
  • Identify the characteristics of estimates and subjective accounting information and describe how these differ from financial statement amounts based on historical events and facts
  • Describe the audit objectives for estimates and other subjective accounting information
  • Apply techniques for auditing estimates and other subjective accounting information
  • Identify accounting estimates for which a high risk of material misstatement exists
  • Effectively plan your audits to address the risks associated with accounting estimates
  • Gather and evaluate evidential matter to assess the quality of the client's estimation process and related key assumptions
  • Evaluate the reasonableness of management's stated future plans and estimates of future cash flow
Key Topics
  • Guidance surrounding accounting estimates
  • Assessing the risk of significant estimates
  • Historical accuracy
  • Designing and performing testwork for accounting estimates
  • Applying professional skepticism to auditing accounting estimates
Who will it benefit?
Level 3, Audit Senior/In-Charge identifies the more difficult areas for experienced auditors. Audit Staff Essentials Level 3 courses will give your staff the confidence necessary to begin assuming client and engagement management
$ 125.00
AICPA Member Price: $ 99.00
Course is unavailable for purchase.
NASBA Field of Study
Accounting and Auditing
CPE Credits
Delivery Method
QAS Self-Study
Advance Preparation
Last Updated