Mandatory Continuing Professional Education (MCPE) ,

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

This course delves into the intricate process of auditing accounting estimates and fair value measurements, focusing on the critical challenges faced by auditors in ensuring the accuracy, reliability, and transparency of financial statements. Participants will explore the complexities associated with assessing the reasonableness of management's estimates and valuations, including fair value measurements of assets, liabilities, and contingent liabilities. Through case studies, practical examples, and interactive discussions, auditors will gain valuable insights into the auditing standards, techniques, and best practices essential for effectively addressing these challenges.

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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.