Fair Value Measurements and Disclosures: Accounting and Auditing

Authored by Joanne Flood, CPA-MBA
About this Course
Fair value measurements poses significant challenges for auditors, who will need to understand and be able to make judgments about complex matters such as: Was the client's process for making the fair value estimate reliable? Are the client's assumptions underlying the fair value estimate reasonable and supportable? Did the client properly apply the requirements of accounting standards? The course provides practical guidance and hands on practice in making sound judgments. You'll benefit from a decision guiding flowchart, example deficiencies, and a sample letter.
Learning Objectives
  • Identify potential auditor independence issues related to assisting attest clients with fair value measurements.
  • Perform risk assessment procedures and assess risks of material misstatements related to fair value measurements.
  • Design and perform further audit procedures that address fair value measurements and disclosures.
Key Topics
  • Understanding fair value guidance
  • Fraud considerations
  • Internal and external valuation concerns
  • Understanding estimates and judgments made by management
  • Recording, presentation and disclosure of fair value adjustment
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
$ 85.00
AICPA Member Price: $ 69.00
Course is unavailable for purchase.
NASBA Field of Study
Accounting and Auditing
CPE Credits
Delivery Method
QAS Self-Study
Advance Preparation
Last Updated