Auditing Accounting Estimates and Fair Value Measurement: Key Challenges for Auditors

Learning Outcomes:

• Understand the regulatory framework and auditing standards related to accounting estimates and fair value measurement.
• Identify the key challenges and inherent risks associated with auditing accounting estimates and fair value measurements.
• Develop proficiency in evaluating the reasonableness and appropriateness of management’s assumptions and methodologies used in estimating fair values.
• Apply analytical procedures and audit techniques to assess the reliability and accuracy of financial statement disclosures related to accounting estimates and fair value measurements.
• Enhance communication skills to effectively communicate audit findings and recommendations to stakeholders, including management and audit committees.
• Implement strategies for mitigating audit risks and enhancing audit quality in the context of auditing accounting estimates and fair value measurements.