Surgent's Auditing Estimates (Audit Skills Training - Level 4) (Self-Study)
Valid for one year from purchase date
Auditing - Technical (3.0)
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Accounting estimates are an approximation of a monetary amount in the absence of a precise means of measurement. The risks of material misstatement for areas of estimation tend to be higher due to the dependence on future events and the intended actions of management. This module will discuss tips and techniques for gathering sufficient appropriate audit evidence to support conclusions related to accounting estimates.
Who should take this program?
Accountants who audit accounts, classes of transaction and disclosures with estimation uncertainty
Identifying areas of estimation uncertainty
Assessing risk of material misstatement related to estimates, and testing the estimation process
Auditing point estimate and range estimates
Applying audit procedures to common areas of estimation
Evaluating the results of audit procedures for possible audit adjustment
Smaller entity audit considerations
Describe typical areas of estimation and related audit risks
Explain linkage of assessed risk of material misstatement to the detailed audit plan
Discuss the importance of challenging management's assumptions when auditing estimates
Describe how to properly evaluate the sufficiency and appropriateness of audit evidence and resulting conclusions
NASBA ID#: 103212
Experience on basic audit engagements