This course focuses on the auditor's role in reviewing accounting estimates. It covers key audit procedures, including testing management's methods and assumptions, evaluating data, and identifying risks. Challenges like incomplete information and complex modelsare addressed, with examples of effective audit strategies and communication practices.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Identify the auditor's responsibilities in evaluating accounting estimates
Select appropriate audit procedures for testing the accuracy of accounting estimates
Recognize common challenges auditors face when testing complex estimates
Differentiate between effective and ineffective audit strategies for assessing accounting estimates
Major Topics
Auditor Overall Responsibilities
Evaluating Methods of Estimation
Identification & Evaluation of Significant Assumptions
Auditor Derived Expectations
Evaluating Post-Measurement Date Evidence
Evaluating Audit Results
Audit Challenges
Best Practices When Auditing Accounting Estimates
