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.
- 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